Pepper prices today (April 2) moved sideways on a large scale.
Domestic pepper prices
According to the survey, pepper prices today remain stable.
Accordingly, traders in Gia Lai and Dong Nai continue to buy pepper at a price of 92,000 VND/kg.
Higher at 94,000 VND/kg and 94,500 VND/kg include Binh Phuoc and Ba Ria – Vung Tau.
The current highest pepper transaction price is 95,000 VND/kg, recorded in Dak Lak and Dak Nong.
The current pepper price is fluctuating between 92,000 – 95,000 VND/kg.
|
Province/district (survey area) |
Purchasing price (Unit: VND/kg) |
Change compared to yesterday (Unit: VND/kg) |
|
Dak Lak |
95,000 |
– |
|
Gia Lai |
92,000 |
– |
|
Dak Nong |
95,000 |
– |
|
BA Ria Vung Tau |
94,500 |
– |
|
Binh Phuoc |
94,000 |
– |
|
Dong Nai |
92,000 |
– |
World pepper prices
According to an update from the International Pepper Association (IPC) on April 1 (local time), the price of Lampung black pepper (Indonesia) increased by 1.39%, the price of Brazilian black pepper ASTA 570 and Kuching black pepper (Malaysia). ) ASTA remains stable compared to March 31
|
Type name |
World black pepper price list (Unit: USD/ton) |
||
|
March 31 |
April 1 |
% change |
|
|
Lampung black pepper (Indonesia) |
4,391 |
4,453 |
+1.39 |
|
Brazilian black pepper ASTA 570 |
4,450 |
4,450 |
0 |
|
Kuching black pepper (Malaysia) ASTA |
4,900 |
4,900 |
0 |
At the same time of the survey, Muntok white pepper prices decreased by 0.23%, while Malaysian ASTA white pepper prices had no new adjustments.
|
Type name |
World white pepper price list (Unit: USD/ton) |
||
|
March 31 |
April 1 |
% change |
|
|
Muntok white pepper |
6,179 |
6.165 |
-0.23 |
|
ASTA Malaysian white pepper |
7,300 |
7,300 |
0 |
To summarize this week, domestic pepper prices decreased by 500 – 1,000 VND/kg. In general, in March 2024, pepper prices increased and decreased unevenly. Specifically, pepper prices remained stable in localities with low price areas such as Dong Nai and Gia Lai; increased in provinces such as Dak Lak, Dak Nong (2,000 VND/kg), Ba Ria – Vung Tau (1,500 VND/kg), Binh Phuoc (500 VND/kg). Previously, domestic pepper prices increased to 10,000 VND/kg in February 2024.
On the world level, in March 2024, the International Pepper Community sharply increased Indonesia’s black pepper price from 3,891 USD/ton to 4,391 USD/ton, while the country’s white pepper price inched up from 6,135 USD/ton to 6,179 USD/ton. This organization also increased Brazilian pepper by 100 USD/ton and kept Malaysia’s pepper export price unchanged. Radio & Television Dak Nong reported.
Thus, domestic pepper prices will almost go sideways in March 2024. The market has at least 3 times conquered the mark of 95,000 VND/kg but were all pulled back by strong selling force at the peak. At this point, many experts and businesses believe that pepper prices have reached their peak and are unlikely to increase further.
Commenting on the market in April 2024, analysts say this is the end of the harvest season. At this time, the market and businesses will have relatively close numbers about this year’s output. Overall, the upward momentum is stronger due to lack of supply due to factors such as: output is still forecast to decrease, low inventories, farmers storing goods and not selling; worried about the yield of the next crop due to weather conditions and lack of care for pepper gardens in previous years; Purchasing power from China has not appeared strongly since the beginning of the year.
