Pepper prices on 04/25/2024: Plummeted sharply

Pepper prices on April 25 globally

In the global market, the pepper market on April 25 continued to decline in Indonesia but remained steady in other countries.

In Indonesia, the price of Lampung black pepper fell by an additional 0.07% to $ 4,569/ton. Meanwhile, the price of Muntok white pepper in this country also turned downward by 0.51% to $ 6,069/ton.

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

In the Brazilian market, the price of ASTA 570 neo black pepper stood at $ 4,450/ton.

In Vietnam, the export prices for black pepper types 500 and 550 g/l remained at $ 4,200 and $ 4,300/ton, respectively. The export price for white pepper stood at $ 6,000/ton.

Thus, on 04/25/2024, the world pepper prices continued to decline in Indonesia compared to the previous day.

Pepper prices on April 25 domestically

In the domestic market, pepper prices on April 25 experienced a significant decrease compared to the previous day.

Specifically, in Dak Lak, prices dropped by up to VND 1,500, purchasing at VND 96,500/kg;

In Dak Nong, today's pepper price decreased by VND 1,000, reaching VND 96,500/kg;

Similarly, in Gia Lai, the price of pepper today fell to VND 96,500/kg;

Traders in Dong Nai province are still buying at the price of VND 96,500/kg;

The latest pepper price in Ba Ria - Vung Tau province sharply decreased to VND 97,000/kg;

Meanwhile, traders in Binh Phuoc province are trading pepper at VND 97,000/kg, a decrease of VND 1,000.

Domestic pepper prices today experienced a sharp decline ranging from VND 1,000 to VND 1,500/kg. As a result, this agricultural product fell to the price range of VND 97,000/kg.

According to the Nedspice Group, the pepper harvest in Vietnam is nearing completion with an expected total output decrease of 15% compared to last year. Meanwhile, the spice company Mane Kancor forecasts that pepper production in Vietnam this year will be around 157,000 tons. About 80% of the harvest has concluded, with the remainder expected to be completed by mid-April. New pepper planting areas are scarce while existing plantations are ageing and require additional care.

The pepper output in Vietnam may not increase rapidly as farmers opt for alternative crops. The supply-demand gap is expected to widen in the coming years. Farmers are showing less interest in pepper plantations due to prolonged low prices in recent years, which has impacted crop productivity.

Thus, the domestic pepper prices on 04/25/2024, are trading around the range of VND 96,500 - 97,000/kg.

$ 1 = VND 25.137 - Source: Vietcombank.