Pepper price today August 15, 2024: Continue to increase strongly
Pepper price today, August 15, 2024, is in the range of 139,000-140,000 VND/kg, a sharp increase of 1,500 to 2,000 VND compared to yesterday, the highest purchase price in Dak Nong, Gia Lai and Dak Lak is 140,000 VND/kg.
Specifically, Dak Lak pepper price was purchased at 140,000 VND/kg, a sharp increase of 1,500 VND compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 140,000 VND/kg, a sharp increase of 2,000 VND compared to yesterday. Dak Nong pepper price today was recorded at 140,000 VND/kg, a sharp increase of 1,500 VND/kg compared to yesterday.
In the Southeast region, pepper prices today increased slightly by 1,500 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 139,500 VND/kg, an increase of 1,500 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 139,000 VND/kg, an increase of 1,500 VND/kg compared to yesterday.
| Area | Average price | Change |
|---|---|---|
| Gia Lai | 140,000 | +2,000 |
| Ba Ria - Vung Tau | 139,500 | +1,500 |
| Dak Lak | 140,000 | +1,500 |
| Binh Phuoc | 139,000 | +1,500 |
| Dak Nong | 140,000 | +1,500 |
Thus, pepper price today, August 15, increased sharply from 1,500 - 2,000 VND/kg in some localities in key growing areas, recording the highest price of 140,000 VND, fluctuating in the price range of 139,000 - 140,000 VND/kg.
Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 7,424 USD/ton (up 1.72%), and the price of Muntok white pepper at 8,741 USD/ton (up 1.73%).
The price of Brazilian ASTA 570 black pepper increased to USD 6,175/ton (up 1.22%). The price of Malaysian ASTA black pepper remained stable at USD 8,500/ton; the price of this country's ASTA white pepper reached USD 10,400/ton.
Vietnam's black pepper price remains at a high level of 5,800 USD/ton for 500 g/l; 550 g/l at 6,200 USD/ton; white pepper price at 8,500 USD/ton.
The sharp decline in pepper supply from Vietnam has had a significant impact on world pepper prices. In the second quarter of 2024, black pepper prices in Vietnam witnessed a surge of up to 93% compared to the beginning of the year, and 2.3 times higher than the same period last year.
The increase in pepper prices did not stop, continuing to increase in July due to high demand while supply remained limited.
Experts say that the shortage of supply compared to global demand, along with rapidly increasing transportation costs and congestion at ports in Asia, have increased pepper prices in import markets, leading to price increases in the medium and long term.
