Pepper price today, August 13, 2024, in the Southeast region decreased sharply by 4,000 - 5,000 VND/kg in some localities compared to yesterday, trading around 137,000 - 138,000 VND/kg, the highest purchase price in Dak Lak province is 138,000 VND/kg

Pepper price today August 13, 2024: The market has stopped increasing, and is expected to continue to fluctuate abnormally.

Specifically, Dak Lak pepper price was purchased at 138,000 VND/kg, down 4,000 VND compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 137,000 VND/kg, down 5,000 VND compared to yesterday. Dak Nong pepper price today was recorded at 137,500 VND/kg, down 4,500 VND/kg compared to yesterday.

In the Southeast region, pepper prices today decreased by 4,000 - 4,500 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 137,000 VND/kg, down 4,000 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 137,000 VND/kg, down 4,000 VND/kg compared to yesterday.

Thus, pepper price today, August 13, decreased from 4,000 - 5,000 VND/kg in some localities in key growing areas, recording the highest price of 138,000 VND, fluctuating in the price range of 137,000 - 138,000 VND/kg.

Domestic pepper price on August 13, 2024

Mr. Hoang Phuoc Binh - Permanent Vice President of Chu Se Pepper Association, this year pepper prices have increased again, but people are not under pressure to sell early like in previous years because coffee and durian prices have increased, many households have stable income. Pepper prices last week, although having unusual fluctuations, are still on the path of recovery and increase, which is an optimistic signal that brings much hope to growers. It is forecasted that pepper prices will continue to fluctuate unusually in the coming time.

World pepper price today

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 7,298 USD/ton, down 0.30%, and the price of Muntok white pepper at 8,592 USD/ton, down 4.40%.

The price of Brazilian ASTA 570 black pepper remained stable at USD 6,100/ton, down 4.92%. The price of Malaysian ASTA black pepper remained stable at USD 8,500/ton; the price of this country's ASTA white pepper reached USD 10,400/ton.

Vietnam's black pepper price remains at a high level of 5,8000 USD/ton for 500 g/l; 550 g/l at 6,200 USD/ton; white pepper price at 8,500 USD.

In Vietnam, the coffee harvest season begins in early January and after the Lunar New Year, farmers enter the peak harvest season. Thus, there are still 7-8 months left until the new harvest (expected after the Lunar New Year, from February 2025), while the amount of goods left in the hands of people, agents and businesses is not much. In the general "picture" of the world pepper industry, it shows that the market is facing the "problem" of lack of supply. This will push domestic pepper prices to continue to increase.

According to experts, the domestic pepper industry is on the rise, with opportunities to increase export turnover. Enterprises need to focus on improving quality and paying attention to the preliminary processing and processing stages to meet market demand. This is the driving force for people to cooperate with enterprises to produce pepper intensively in an organic direction, meeting export standards to improve quality and economic value.

Regarding this, Ms. Hoang Thi Lien - President of the Vietnam Pepper and Spice Association - shared that Vietnam is currently the world's largest pepper export market, accounting for about 55% of the total pepper export volume worldwide. With the current processing capacity of 140,000 tons/year, Vietnam continues to have the potential to increase the proportion of processed exports (currently the proportion of processed goods is only 30%). Increasing deep processing will help diversify products, increase quality and value, and participate more deeply in the value chain... are solutions to revive the pepper industry.

*Information for reference only. Prices may vary depending on time and location.