Pepper prices on 07/24/2024: Domestic prices remain stable

Pepper prices on July 24 globally

Globally, the pepper market on July 24 continues to remain stable.

Accordingly, the price of black pepper Lampung in Indonesia remains at $ 7,191/ton. Meanwhile, the price of white pepper Muntok from this country is $ 9,157/ton.

The price of black pepper Kuching ASTA in Malaysia is steady at $ 7,500/ton, while white pepper ASTA from this country is priced at $ 8,800/ton.

For the Brazilian market, the price of black pepper ASTA 570 remains at $ 7,125/ton.

In Vietnam, the export price of black pepper 500 g/l is trading at $ 6,000/ton, while the 550 g/l type is priced at $ 6,600/ton. The export price of white pepper remains at $ 8,800/ton.

Globally, pepper prices today remain stable. Recently, the IPC noted an increase in Chinese white pepper prices due to anticipated low production and domestic speculation.

According to surveys, in recent years, the pepper cultivation area on Hainan Island (China) is about 330,000 mu (1 mu = 666.7 m²), accounting for over 90% of the country’s total pepper growing area.

Although Hainan Island is China’s main pepper production area, it is not the primary trade hub for import and export activities. Most pepper trading occurs in Yulin (Guangxi) and Bozhou (Anhui).

Thus, world pepper prices on 07/24/2024, show no new changes compared to yesterday.

Pepper prices on July 24 domestically

In the domestic market, pepper prices on July 24 remain stable compared to yesterday.

Specifically, Dak Lak continues to purchase pepper at VND 150,000/kg;

Dak Nong also maintains its pepper price at VND 150,000 VND/kg;

In Gia Lai, pepper is still trading at 149,000 VND/kg;

Traders in Dong Nai are still buying pepper at VND 149,000/kg;

In Ba Ria – Vung Tau, pepper prices remain at VND 149,000/kg;

Binh Phuoc is trading pepper at VND 148,000/kg.

Domestic pepper prices today remain unchanged at a high of VND 150,000/kg, While domestic coffee prices drop sharply by VND 1,300 to VND 126,000/kg.

This year, the main pepper-producing region in China is also facing concerns of crop failure, and speculation is hoarding supplies. Since the beginning of the year, the volume of pepper exported from Vietnam to this market has dropped significantly. According to data, China imports about 50,000 tons of pepper from Vietnam annually.

Experts suggest that China and European traders are likely waiting for information and new shipments from the harvest in Indonesia. If the crop in this Southeast Asian country is less favourable, the situation of low production and domestic speculation in China may persist, leading to a strong increase in imports of Vietnamese pepper. This could be the driving force for the growth of Vietnamese pepper at the end of the year.

Thus, domestic pepper prices on 07/24/2024, are trading around VND 148,000 – 150,000/kg.

$ 1 = VND 25.147 – Source: Vietcombank