Pepper prices on 04/13/2024: slight downward trend

Pepper prices on April 13 globally

In the global market, the pepper market on April 13 continues to move sideways.

Specifically, the price of Lampung black pepper in Indonesia is anchored at $ 4,463 per ton. Meanwhile, the price of Muntok white pepper from this country is $ 6,179 per ton.

The price of Kuching ASTA black pepper from Malaysia remains stable at $ 4,900 per ton, while the price of ASTA white pepper from this country is still at $ 7,300 per ton.

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

As for Vietnam, the export price of black pepper of grade 500 and 550 g/l remains at $ 4,200 and $ 4,300 per ton, respectively. The export price of white pepper is anchored at $ 6,000 per ton.

Thus, the world pepper prices on April 13, 2024, remained stable compared to the previous day.

Pepper prices on April 13 domestically

In the domestic market, the black pepper market on April 13 continues to see a slight decrease compared to yesterday.

Specifically, in Dak Lak, black pepper is trading at around VND 90,000/kg;

The price of black pepper in Dak Nong has dropped to VND 89,500/kg;

Today's pepper price in Gia Lai is at VND 89,500/kg;

Traders in Dong Nai have purchased pepper at the price of VND 89,000/kg;

The latest black pepper price in Ba Ria - Vung Tau remains unchanged at VND 90,000/kg;

Meanwhile, traders in Binh Phuoc are trading black pepper at VND 90,000/kg, after a decrease of VND 500.

The domestic pepper price today remained flat in Ba Ria - Vung Tau but decreased slightly by VND 500 in other key regions. This has pushed the price of this agricultural product below the threshold of VND 90,000/kg.

Assessing the domestic pepper market, experts believe that the downward trend is still ongoing but not as strong as earlier in the week. In the short term, it's unlikely for pepper to drop to VND 85,000/kg, while in the medium and long term, the price of this agricultural product still has the potential to increase due to low production this year.

The supply is supplemented by the harvest of the 2023/24 pepper crop, while reduced demand from China, hitting its lowest level in years, is exerting pressure on pepper prices.

Vietnam's pepper exports to China have plummeted by 95.8%, reaching only 1,083 tons compared to 25,919 tons in the same period. This figure is even lower than the 2,138 tons of pepper achieved in the first quarter of 2022 when China closed its market due to the COVID-19 pandemic.

Nedspice Group believes that the scale and timing of new pepper export demand in Vietnam will determine price trends in the coming months, especially as China plays a crucial role.

According to Nedspice, Vietnam's pepper harvest this year is around 157,000 tons, a 15% decrease from the previous year. In recent years, there has been minimal new pepper planting in Vietnam, and many old trees are ageing. Additionally, the pepper cultivation area has been narrowed and replaced by other crops that provide better income, such as durian.

Thus, the domestic pepper price on 04/13/2024 is trading around VND 89,000 - 90,000/kg.