Currently, Dak Lak and Dak Nong provinces continue to record the highest price of 82,500 VND/kg.
Domestic pepper prices
Currently, key provinces in the country are purchasing pepper at a price range of 79,500 – 82,500 VND/kg.
Pepper in the province Ba Ria – Vung Tau and Binh Phuoc are being purchased at prices of 81,500 VND/kg and 82,000 VND/kg, respectively, down 500 VND/kg.
That paralle, Pepper price today in Dak Lak and Dak Nong provinces still remains at the highest level of 82,500 VND/kg.
|
Province/district (survey area) |
Purchasing price (Unit: VND/kg) |
Change compared to yesterday (Unit: VND/kg) |
|
Dak Lak |
82,500 |
– |
|
Gia Lai |
80,000 |
– |
|
Dak Nong |
82,500 |
– |
|
BA Ria Vung Tau |
81,500 |
– |
|
Binh Phuoc |
82,000 |
– |
|
Dong Nai |
79,500 |
– |
World pepper prices
According to an update from the International Pepper Association (IPC) on January 25 (local time), Lampung black pepper price (Indonesia) decreased by 0.31% compared to January 24.
At the same time, the price of Brazilian black pepper ASTA 570 and Kuching (Malaysia) ASTA black pepper remained stable.
|
Type name |
World black pepper price list (Unit: USD/ton) |
||
|
January 24 |
January 25 |
% change |
|
|
Lampung black pepper (Indonesia) |
3,913 |
3,878 |
-0.31 |
|
Brazilian black pepper ASTA 570 |
3,850 |
3,850 |
0 |
|
Kuching black pepper (Malaysia) ASTA |
4,900 |
4,900 |
0 |
At the same time of the survey, the price of Muntok white pepper decreased by 0.29% compared to the previous session, while Malaysian ASTA white pepper prices had no new adjustments.
|
Type name |
World white pepper price list (Unit: USD/ton) |
||
|
January 24 |
January 25 |
% change |
|
|
Muntok white pepper |
6.169 |
6.115 |
-0.29 |
|
ASTA Malaysian white pepper |
7,300 |
7,300 |
0 |
According to records, the amount of pepper exported to world markets increased compared to 2022 such as India reaching 12,849 tons, an increase of 5.5%; UAE reached 12,041 tons, down 20.8%; The Philippines reached 8,040 tons, an increase of 24.4%, Türkiye and Egypt increased 79.1% and 30%…
Meanwhile, the amount of pepper exported to the second largest market, the US, reached 55,031 tons, down 4.8% and accounting for 20.7% of the market share. In addition, the amount of pepper exported to Germany also decreased by 5.7%; The Netherlands decreased by 11.3%…
Inflation and interest rates remaining at high levels have caused export orders to the US and some European markets to decline compared to the previous year.
However, imports from the US and Europe tend to increase in the last months of 2023, which shows that demand from these two key markets is on the road to recovery.
2023 is a year with many fluctuations in the domestic pepper market. The price of this item increased by 27% in the first 5 months of the year to 73,000 – 76,000 VND/kg, due to increased demand from the Chinese market.
After that, China’s imports slowed down, pulling pepper prices down to 61,000 – 71,000 VND/kg in August. Entering the fourth quarter of 2023, domestic pepper prices increased sharply and at one point reached a peak of 86,000 VND/kg. in mid-December 2023.
From the fourth quarter of 2023, the price of black pepper in the domestic market increased sharply as speculators stepped up buying in the context of limited supply.
The Vietnam Pepper and Spice Association (VPSA) added that one of the reasons for the recent price increase is that the supply of the old crop is not much while this year’s new crop is harvested later.
Normally, every year some places start harvesting as early as December, but this year it will take until January 2024 to harvest and is expected to end in April.
Updated as of January 15, 2024, pepper prices in the Central Highlands provinces, although they have cooled down compared to the peak reached at the end of last year, still increased by 35 – 40% compared to the beginning of 2023, fluctuating at 78,000 – 81,000 VND/kg.
According to VietnamBiz.vn
