In the Central Highlands, Dak Lak pepper price is 155,500 VND/kg, an increase of 2,500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is 153,000 VND/kg, an increase of 1,000 VND/kg. Dak Nong pepper price is 155,000 VND/kg, an increase of 2,000 VND/kg.
In the Southeast, the pepper price in Binh Phuoc has remained at 152,000 VND/kg. In Ba Ria-Vung Tau, the price increased to 155,000 VND/kg, up 2,000 VND/kg.
Today’s pepper price increased by 1,000-2,500 VND/kg, fluctuating between 152,000 and 155,500 VND/kg.
Due to the risk of pepper supply shortage, a new peak has been hit.
According to the International Pepper Association (IPC), at the end of the latest trading session, the IPC listed the price of Lampung black pepper from Indonesia at 7,542 USD/ton and the price of Muntok white pepper at 9,096 USD/ton, down 0.01%.
The price of Brazil’s black pepper ASTA 570 is 7,400 USD/ton, down 1.35%. Malaysia’s black pepper ASTA price is 8,800 USD/ton. The price of white pepper ASTA in this country reached 10,900 USD/ton.
Vietnamese black pepper’s price is stable at 6,600 USD/ton for 500 g/l and 7,000 USD/ton for 550 g/l. White pepper’s price is 9,300 USD/ton.
Demand in markets such as the EU, Middle East, and Asian countries is very good, while demand from China is silent compared to last week after a strong price increase.
Shipping rates to the US have dropped significantly, by about 2,000 USD per 40-foot container, in the past week. Other routes, such as the EU, Asia, and Africa, remained stable, not changing much.
The value of VND continues to increase by about 1%, leading to an increase in pepper prices converted to USD. It is forecast that VND will continue to increase in value when USD may weaken due to FED reducing interest rates.
Meanwhile, the global pepper market is still facing the risk of a supply shortage. Vietnam, the world’s largest pepper producer and exporter, exported 183,756 tons in the first 8 months of the year, while this year’s harvest is only 170,000 tons.
According to the VPSA, the inventory in 2023, along with the import volume in 2024, is about 40,000–45,000 tons. It shows that the supply for export will be lower than every year, and this situation will last until March 2025, when the new crop comes.
In Brazil, under ideal conditions, the crop in southern Brazil (Esperito Santo and Bahia) can exceed 100,000 tons. However, due to unusual weather, some forecasts say that this year’s crop will only reach about 65,000 tons.