Pepper prices on August 26, 2024, in key areas in Vietnam do not change compared to yesterday, fluctuating between 143,000 and 144,000 VND/kg.
At the end of the last trading session, the IPC listed Indonesia’s Lampung black pepper price at 7,490 USD/ton, which was stable compared to yesterday, and the Muntok white pepper price at 8,818 USD/ton.
The price increase cycle of pepper will continue.
Brazil’s ASTA 570 black pepper price remains stable at 6,300 USD/ton. Malaysia’s ASTA black pepper price continues to stand at 8,500 USD/ton. This country’s ASTA white pepper price reaches 10,400 USD/ton.
Vietnam’s black pepper price is 5,800 USD/ton for 500 g/l and 6,200 USD/ton for 550 g/l. The price of white pepper is 8,500 USD per ton.
Thus, the pepper prices of Indonesia and Brazil have increased. Meanwhile, Vietnam’s pepper export prices are at the lowest level in the market.
The Department of Import and Export (Ministry of Industry and Trade) said that global pepper supply has increased since Indonesia started the harvest in July. However, Brazil, the world’s leading pepper exporter, is facing continuous crop failure due to drought. Supply shortages over demand will continue in the coming time.
Mr. Hoang Phuoc Binh, Permanent Vice President of the Chu Se Pepper Association, said: Currently, the production cost of pepper is about 70,000–80,000 VND/kg. In particular, in the Central Highlands, the production cost of pepper is 70,000 VND/kg, and in the Southeast, it is 80,000 VND/kg.
Such high pepper prices have made it attractive for farmers to return to this “black gold” crop. However, the number of pepper growers who are returning to grow pepper is not considerable. The new planting area is very low.
A few years ago, many farmers intercropped durian into pepper gardens. Now that durian is ‘hot’, many people have decided to cut down on pepper and keep durian. On average, to keep a durian tree, a farmer has to cut down about eight pepper pillars.