Pepper prices on 04/23/2024: Remain high domestically

Pepper prices on April 23 domestically

In the global market, the pepper market on April 23 saw slight increases in Indonesia but remained stable in other countries.

Specifically, the price of black pepper from Lampung, Indonesia, increased by 0.35% to $ 4,578/ton. Meanwhile, the price of white pepper from Muntok, Indonesia, also saw a slight increase of 0.35% to $ 6,046/ton.

The price of black pepper Kuching ASTA from Malaysia remained stable at $ 4,900/ton, while the white pepper ASTA from the same country maintained its price at $ 7,300/ton.

In the Brazilian market, the price of black pepper ASTA 570 saw a significant increase to $ 4,450/ton, up by $ 150.

Meanwhile, in Vietnam, the export prices of black pepper types 500 and 550 g/l remained unchanged at $ 4,200 and $ 4,300/ton, respectively. The export price of white pepper remained stable at $ 6,000/ton.

The world pepper price today slightly increased in Indonesia and surged sharply in Brazil. Meanwhile, other markets remained stable.

Thus, the world pepper price on 04/23/ 2024, showed no new changes compared to yesterday.

Pepper prices on April 23 domestically

In the domestic market, the pepper market on April 23 continued to stabilize compared to yesterday.

Specifically, in Dak Lak, pepper is still being purchased at a price of VND 98,000/kg;

In Dak Nong, the price of pepper today remains at VND 97,000/kg.

The price of pepper in Gia Lai today is still at VND 97,000/kg;

Traders in Dong Nai province continue to purchase pepper at VND 96,500/kg;

The latest price of pepper in Ba Ria - Vung Tau province is VND 98,000/kg;

Meanwhile, traders in Binh Phuoc province continue to trade pepper at VND 98,000/kg.

The domestic black pepper price today continues to maintain stability, reaching the highest level at VND 98,000/kg.

In the country, the basic harvesting season has ended in many localities, but there is not much selling pressure. This year, farmers are more inclined to hold onto their produce, given the favourable prices of coffee and other agricultural commodities.

The comfortable living conditions enable farmers to refrain from selling pepper immediately after harvesting and instead wait for better prices.

Overall, in the first quarter of 2024, Vietnam's pepper exports reached 57,000 tons, valued at $ 236 million; a 25% decrease in volume but a 1% increase in value compared to the same period in 2023. In the first quarter of 2023, increased buying power from the Chinese market after COVID-19 helped boost our country's pepper exports.

In contrast to previous years, China's reduced purchases this year have not significantly impacted Vietnam's pepper exports, as they have increased to other markets, thereby maintaining a relatively stable export volume amidst continuous threats to the supply chain.

Recently, domestic pepper prices have continuously risen sharply due to limited supply. Prolonged hot weather will affect the harvest yield. Typically, after the harvest, pepper plants are exhausted, entering a dry season, making them susceptible to fungi and diseases, thereby affecting productivity and subsequent yields.

Thus, the domestic pepper price on 04/23/2024 is trading around the range of VND 96,500 - 98,000/kg.