Pepper price today August 13, 2024: The market has stopped increasing, there will be unusual fluctuations, Vietnamese pepper is increasingly facing competition. (Source: Incredibleman)

Pepper price today, August 13, 2024, in the domestic market remained stable in key localities, trading from 141,000 - 142,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 142,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (141,000 VND/kg); Dak Lak (142,000 VND/kg); Dak Nong (142,000 VND/kg); Ba Ria - Vung Tau (141,500 VND/kg) and Binh Phuoc (141,000 VND/kg).

Thus, after 3 days of increase, domestic pepper prices today remained stable in key localities. The highest pepper price was at 142,000 VND/kg.

On the morning of July 31, in Ho Chi Minh City, the Vietnam Pepper and Spice Association (VPSA) held a conference to review the first 6 months of the year and deploy tasks for the remaining half of the year.

At the conference, Mr. Le Viet Anh, General Secretary of VPSA, commented that pepper prices will have unusual fluctuations, such as on June 11, when the price increased sharply by 20,000 VND/kg in the morning but dropped sharply again in the afternoon.

He analyzed that pepper is increasingly being competed by durian and coffee. There is new planting area but not much, mainly intercropping pepper with coffee at a ratio of 6-2. The next crop's output may be equivalent or slightly higher than in 2024. The amount of inventory among people is not much, the situation of pests and diseases still exists but is not significant.

According to VPSA, Brazil currently has 3 sterilized pepper factories, is building 2 more factories and will complete them in 2025. In the future, Brazilian pepper will compete better with Vietnam, so the imported supply will be less, so Vietnamese businesses need to be proactive in raw material sources.

VPSA forecasts that Vietnam's domestic pepper output in the coming crop may remain low. There is not much inventory left among farmers, and pests and diseases still exist but are not significant. Meanwhile, global pepper output in 2024 is expected to reach 465,000 tons, while consumption demand is expected to reach 529,000 tons.

VPSA estimates that Vietnam's pepper output in 2024 will only reach about 170,000 tons, down 10% compared to the previous year, which is also the lowest level in the past 5 years.

Meanwhile, data shows that by the end of July 2024, Vietnam had exported 164,357 tons, with a turnover of 764.2 million USD. Compared to the same period in 2023, the export volume decreased by 2.2% but the export turnover increased by 40.8%.

There are still 7-8 months left until the new pepper harvest (expected after Lunar New Year from February 2025), while the amount of goods left in the hands of people, agents and businesses is not much.

Domestic pepper supply is under pressure to decrease, plus pepper output in other countries such as Brazil and Indonesia is forecast to decrease this year. And this will continue to put pressure on pepper prices in the last months of the year.

In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,320 USD/ton, up 0.23%; the price of Brazilian black pepper ASTA 570 at 6,100 USD/ton, down 4.92%; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 8,970 USD/ton, up 0.25%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam black pepper price is trading at 5,800 USD/ton for 500 g/l; 550 g/l at 6,200 USD/ton; white pepper price is at 8,500 USD/ton. IPC continues to increase pepper price in Indonesia, decrease sharply in Brazil.