Pepper prices on 03/30/2024: The market is quiet

Pepper prices on March 30 in the world

Around the world, the pepper market on March 30 simultaneously went sideways in other countries.

Accordingly, the price of Lampung black pepper in Indonesia remained at $ 4,391/ton. The price of this country's Muntok white pepper is anchored at $ 6,179/ton. 

Malaysia's Kuching ASTA black pepper price remained stable at $ 4,900/ton; This country's ASTA white pepper is still priced at $ 7,300/ton. 

For the Brazilian market, the price of ASTA 570 black pepper remains at $ 4,500/ton. 

In Vietnam, export prices of black pepper grades 500 and 550 g/l remained at $ 4,200 and $ 4,300/ton, respectively. The export price of white pepper is anchored at $ 6,000/ton.

World pepper prices today remain stable. IPC commented that the pepper market's reaction this week was mixed. In particular, domestic and international prices of Indian pepper and Indonesian black pepper reported increases. 

Thus, world pepper prices on 03/30/2024 have no new fluctuations compared to yesterday.

Pepper prices on March 30 in the country

Domestically, the pepper market on March 30 remained stable compared to yesterday.

Specifically, Dak Lak and Dak Nong are still trading at VND 95,000/kg;

In Gia Lai, pepper price today remained at VND 92,000/kg;

In Dong Nai, traders continue to buy at a price of VND 92,500/kg;

The latest pepper price in Ba Ria - Vung Tau is anchored at VND 94,500/kg;

Traders in Binh Phuoc traded at a price of VND 94,000/kg.

Domestic pepper prices today have no new fluctuations with the highest threshold reaching VND 95,000/kg.

Due to the impact of El Nino causing hot weather to arrive early, pepper harvest in the Central Highlands and Southeast regions this year is earlier than average. Harvest is expected to end at the end of March.

Currently, farmers in pepper-growing areas here are entering the end of the 2024 harvest season. The actual output of this year's pepper crop is lower than VP SA's expectation, estimated at only 140-150 thousand tons. it is forecasted that our country's pepper output this year is estimated to decrease by more than 15% compared to the previous pepper season. 

Commenting on the export market, Ms Hoang Thi Lien - President of VPSA said, thanks to stable supply and guaranteed quality, Vietnamese pepper has advantages when entering markets. In particular, pepper exports to the Chinese market are expected to grow well this year. 

China's annual pepper import demand is expected to be about 65-70 thousand tons. While in the first 2 months of 2024, the amount of pepper our country exported to this country only reached 816 tons. 

Thus, domestic pepper prices on 03/30/2024 are trading around VND 92,000 - 95,000/kg.