The pepper price today in the Central Highlands and the Southeast region increased by 1,000–2,000 VND/kg. The highest purchase price in Dak Nong province is 145,000 VND/kg.
Accordingly, pepper in Dak Lak is purchased at 144,000 VND/kg, an increase of 2,000 compared to yesterday’s price.
The price of pepper in Chu Se (Gia Lai) is now at 144,000 VND/kg, which is up by 2,000 VND/kg compared to yesterday.
In Dak Nong, the price of pepper reached a record of 145,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday.
In the Southeast region, the price of pepper today increased by 1,000–2,000 VND/kg. Specifically, in Ba Ria-Vung Tau, the price reached 144,000 VND/kg, an increase of 2,000 VND/kg.
In Binh Phuoc, the pepper price reached 144,000 VND/kg, an increase of 1,000 VND/kg.
The domestic pepper price today set a new record by increasing 1,000–2,000 VND/kg in key areas compared to yesterday. The highest price was recorded at 145,000 VND/kg in Dak Nong province.
The domestic pepper price achieved a new record of 145,000 VND/kg.
In the world, Vietnam’s black pepper price remains at a high level, trading at 5,400 USD/ton for 500 g/l and 5,900 USD/ton for 550 g/l. The price of white pepper is 8,000 USD per ton. Since the end of April, pepper prices have increased sharply and adjusted daily.
According to the Import-Export Department (Ministry of Industry and Trade), in May 2024, Vietnam exported 30,000 tons of pepper, worth 135 million USD. This result increased by 3.7% in quantity and 49.9% in value compared to May 2023. Overall, in the first 5 months of 2024, Vietnam exported 113,000 tons, worth 487 million USD. This figure is down 14.1% in volume but up 19.7% in value over the same period last year.
Pepper prices increased mainly due to tight global supply while demand recovered positively. Since the beginning of the year, Vietnam has boosted pepper exports to many traditional markets, such as the US, India, Germany, the Netherlands, Korea, and Egypt. Notably, pepper exports to German and Korean markets grew to three digits.
The Import-Export Department said that exports of most types of pepper increased in quantity, except for black pepper; in terms of value, all types increased. In particular, the export rate of ground black pepper, white pepper, and ground white pepper recorded double-digit growth in both quantity and value.
Many experts believe that the export price of pepper will continue to increase, however, export volume may decrease due to low inventory.
Based on the preliminary statistics of the Vietnam Pepper and Spice Association (VPSA), in May 2024, Vietnam exported 31,357 tons of pepper, earning 141 million USD. The average price for black pepper was 4,542 USD per ton, and white pepper was 6,106 USD per ton, both up from the previous month. Overall, in the first 5 months of the year, total exports reached 114,424 tons, with a value of 493.1 million USD, up 20.6% over the last year.
The VPSA forecasts this year’s production to decrease by 10% compared to 2023, to about 170,000 tons, the lowest level in the last 5 years.
On June 4, the International Pepper Association (IPC) sharply adjusted the trading price of Vietnamese pepper in the international market. Accordingly, the price of black pepper increased by 12.5% to 5,400 USD/ton for 500 g/l and 18% to 5,900 USD/ton for 550 g/l; the price of white pepper also increased by 11% to 8,000 USD/ton.