Pepper prices on 05/04/2024: Opposite to coffee decrease

Pepper prices on May 4 globally 

In the global market, pepper prices on May 4 experienced significant increases in Indonesia but remained steady in other countries.

Accordingly, the price of black pepper from Lampung in Indonesia increased slightly by 0.67% to $ 4,757/ton. Similarly, the price of white pepper from Muntok of this country also rose by 0.67% to $ 6,303/ton.

The price of black pepper ASTA from Kuching, Malaysia, remained stable at $ 4,900/ton, while the price of white pepper ASTA from this country continued to be $ 7,300/ton.

In the Brazilian market, the price of black pepper ASTA 570 was at $ 4,700/ton.

Meanwhile, in Vietnam, the export prices of black pepper, grades 500 and 550 g/l, remained unchanged at $ 4,400 and $ 4,500/ton, respectively. The export price of white pepper stayed at $ 6,000/ton.

World pepper prices continue to rise in Indonesia and remain stable in other markets.

This week, IPC assesses the market as having a negative trend with no countries reporting decreases. Specifically, pepper prices in India and Indonesia, both domestically and internationally, are on the rise.

Currently, the pepper supply from Vietnam and Brazil is decreasing due to the impact of El Nino, resulting in a sharp increase in prices. Vietnam's pepper export market is also undergoing significant adjustments, with new markets emerging, notably Pakistan, Germany, South Korea, and India, all showing triple-digit growth.

Thus, world pepper prices on 05/04/2024, continue to rise in Indonesia compared to yesterday.

Pepper prices on May 4 domestically

In the domestic market, pepper prices on May 4 continued to increase compared to yesterday.

Specifically, in Dak Lak, prices increased by an additional VND 1,000, reaching VND 101,000/kg; in Dak Nong, pepper prices also saw a strong increase to VND 100,000/kg.

In Gia Lai, pepper prices climbed to 100,000 VND/kg, up by 1,000 VND;

Traders in Dong Nai are purchasing pepper at VND 100,000/kg, up by VND 500;

The latest pepper prices in Ba Ria - Vung Tau have slightly increased to VND 100,000/kg;

Meanwhile, traders in Binh Phuoc have increased prices by VND 1,000, trading pepper at VND 101,000/kg.

The domestic pepper price continues to increase by an additional VND 500 - 1,000, bringing this agricultural product to the threshold of VND 101,000/kg.

According to a report from the Ministry of Agriculture and Rural Development, Vietnam exported 27,000 tons of pepper in April 2024, earning $ 117 million. Compared to the same period last year, pepper exports increased slightly by 2.2% in volume and surged significantly by 40.4% in value.

The average export price of pepper in April 2024 increased for the fourth consecutive month, reaching $ 4,342/ton, up 37.4% compared to April 2023.

Vietnam has continued to lead the world in pepper production and exports for over 20 years. This agricultural product currently accounts for 40% of the world's production and holds a 60% market share in global pepper exports.

Thus, the domestic pepper price on 05/04/2024, is trading around VND 100,000 - 101,000/kg.

$ 1 = VND 25.117 - Source: Vietcombank