The pepper price on June 12, 2024, in the Central Highlands and Southeast region has increased from 7,000 to 9,000 VND/kg, trading at around 177,400 VND/kg. The highest purchase price is 180,000 VND/kg in Dak Nong province.
Accordingly, Dak Lak pepper was purchased at 179,000 VND/kg, an increase of 9,000 compared to yesterday’s price. The price of pepper in Chu Se (Gia Lai) is currently at 176,000 VND/kg, up 8,000 VND/kg compared to yesterday. The price of Dak Nong pepper today has increased to a record price of 180,000 VND/kg, an increase of 9,000 VND/kg.
In the Southeast region, the price of pepper increased by 7,000 VND. Specifically, in Ba Ria-Vung Tau, the price reached 176,000 VND/kg, an increase of 7,000 VND/kg. In Binh Phuoc, the pepper price is 176,000 VND/kg, which is up by 6,000 VND/kg.
Domestic pepper price increased to a record high of 180,000 VND/kg.
After a series of consecutive days of increase, the domestic pepper price officially surpassed the mark of 180,000 VND/kg, a price that no one can think of when entering this year’s harvest. Thus, domestic pepper prices today continue to increase sharply in most key areas compared to yesterday, with an increase of 7,000–9,000 VND/kg. In all localities, the price of pepper exceeded 177,000 VND/kg. The highest price was recorded at 180,000 VND/kg.
At the end of the last trading session, the International Pepper Community (IPC) listed the price of black pepper Lampung (Indonesia) at 6,451 USD/ton (up 12.65%); Brazilian black pepper ASTA 570 at 8,500 USD/ton (up 3.53%); and Kuching black pepper price (Malaysia) ASTA held at 4,900 USD/ton.
Muntok white pepper price was 8,420 USD/ton (up 11.82%). Malaysia ASTA white pepper price remained at 7,300 USD/ton.
The prices of Vietnam’s black pepper were simultaneously at a high level, trading at 6,500 USD/ton for 500 g/l and 6,700 USD/ton for 550 g/l (up 11.94%). The white pepper price was 9,500 USD/ton (up 15.79%).
Ms. Hoang Thi Lien, Chairman of the Vietnam Pepper and Spice Association (VPSA), said that prices are forecast to increase, so people keep waiting for higher prices. The price of pepper fluctuates hourly; for example, in the afternoon, the price is 148,000 VND/kg, but by the evening, it has increased to 152,000 VND/kg.
When the price of pepper is high, growers are the happiest. This compensates for the low price of pepper in the past—only about 35,000 VND/kg. However, such high prices make it very difficult for businesses to buy. The amount of goods sold to the market is low. Meanwhile, businesses have to bear the costs and interest rates of the bank.
With the current export price of pepper, the pepper industry is firmly in the hands of billions of USD. In the context of hot prices, it is difficult for businesses to actively source goods. It is common sense that growers are happy with the high prices, but they still want more price increases. In this context, the businesses are struggling. Therefore, it is very important to harmonize the sharing of benefits at this time for all parties to win. /.