Pepper prices today (February 8) in the domestic market remained stable in the range of 81,000 – 84,000 VND/kg.
According to the survey, pepper price In key provinces in the country, it is in the range of 81,000 – 84,000 VND/kg.
Specifically, two provinces Dong Nai and Gia Lai recorded prices of 81,000 VND/kg and 81,500 VND/kg, respectively.
Next are the provinces of Dak Lak, Dak Nong and Ba Ria – Vung Tau which are purchasing pepper at a price of 83,500 VND/kg.
Similar, Pepper price today in Binh Phuoc province, it was flat at the corresponding level of 84,000 VND/kg.
|
Province/district (survey area) |
Purchasing price (Unit: VND/kg) |
Change compared to yesterday (Unit: VND/kg) |
|
Dak Lak |
83,500 |
– |
|
Gia Lai |
81,500 |
– |
|
Dak Nong |
83,500 |
– |
|
BA Ria Vung Tau |
83,500 |
– |
|
Binh Phuoc |
84,000 |
– |
|
Dong Nai |
81,000 |
– |
World pepper prices
According to an update from the International Pepper Association (IPC) on February 7 (local time), prices of Lampung black pepper (Indonesia), Brazilian black pepper ASTA 570 and Kuching black pepper (Malaysia) ASTA remain stable. determined.
|
Type name |
World black pepper price list (Unit: USD/ton) |
||
|
February 6 |
February 7 |
% change |
|
|
Lampung black pepper (Indonesia) |
3,886 |
3,886 |
0 |
|
Brazilian black pepper ASTA 570 |
3,750 |
3,750 |
0 |
|
Kuching black pepper (Malaysia) ASTA |
4,900 |
4,900 |
0 |
At the same time of the survey, the prices of Muntok white pepper and Malaysian ASTA white pepper had no new adjustments.
|
Type name |
World white pepper price list (Unit: USD/ton) |
||
|
February 6 |
February 7 |
% change |
|
|
Muntok white pepper |
6.127 |
6.127 |
0 |
|
ASTA Malaysian white pepper |
7,300 |
7,300 |
0 |
It is forecasted that pepper exports in 2024 will have favorable prices. Vietnam’s 2024 pepper crop output is forecast to decrease, although the world economic situation still poses many potential risks, according to the latest report of Department of Import and Export (Ministry of Industry and Trade).
However, businesses are required to purchase reserve goods to compensate for previous supply shortages. This is said to be the reason why pepper prices increased sharply.
In 2024, Vietnam’s pepper industry will likely still exploit well the US, China, EU and other potential markets. With its position as the world’s number 1 pepper supplier thanks to stable supply and guaranteed quality, Vietnamese pepper will easily penetrate the markets.
In December 2023, Vietnam’s average export price of pepper reached 3,824 USD/ton, down 0.4% compared to November 2023, but up 6.3% compared to December 2022. In 2023, the average export price of Vietnam’s pepper will reach 3,424 USD/ton, down 10.4% compared to 2022.
In 2023, Vietnam will reduce pepper exports to many traditional markets such as the US, United Arab Emirates, Germany, Netherlands, UK, Korea, and Russia.
In contrast, Vietnam increased pepper exports to the Indian, Philippine and Thai markets, but the increase was not too large. However, there have been positive signs when pepper exports to many markets increased sharply in December 2023, such as Korea, India, Philippines, Netherlands, Germany…
According to VietnamBiz.vn
