Pepper prices today, August 15, 2024: Continuing their strong upward trend.
Today, August 15, 2024, pepper prices range from 139,000 to 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, the price of pepper in Dak Lak is being purchased at 140,000 VND/kg, a sharp increase of 1,500 VND compared to yesterday. The price of pepper in Chu Se (Gia Lai) is being purchased at 140,000 VND/kg, a sharp increase of 2,000 VND compared to yesterday. The price of pepper in Dak Nong today is recorded at 140,000 VND/kg, a sharp increase of 1,500 VND/kg compared to yesterday.
In the Southeast region, pepper prices today saw a slight increase of 1,500 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, the price is currently 139,500 VND/kg, up 1,500 VND/kg from yesterday; in Binh Phuoc, the price is 139,000 VND/kg, also up 1,500 VND/kg from 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 |
| Boeing Nong | 140,000 | +1,500 |
Thus, today's pepper prices (August 15th) have increased sharply by 1,500 - 2,000 VND/kg in some localities in key growing areas, recording a highest price of 140,000 VND, fluctuating in the range of 139,000 – 140,000 VND/kg.
According to the International Pepper Association (IPC), at the close of the most recent trading session, the IPC listed Indonesian Lampung black pepper at US$7,424/ton (up 1.72%) and Muntok white pepper at US$8,741/ton (up 1.73%).
Brazilian ASTA 570 black pepper prices rose to US$6,175/ton (up 1.22%). Malaysian ASTA black pepper prices remained stable at US$8,500/ton; Malaysian ASTA white pepper prices reached US$10,400/ton.
Vietnamese black pepper prices remained high, trading at US$5,800/ton for the 500 g/l variety; US$6,200/ton for the 550 g/l variety; and white pepper at US$8,500/ton.
The sharp decline in pepper supply from Vietnam has had a significant impact on world pepper prices. In the second quarter of 2024, the price of black pepper in Vietnam saw a surge of up to 93% compared to the beginning of the year, and increased 2.3 times compared to the same period of the previous year.
The price of pepper has not stopped, continuing to rise in July due to increased demand while supply remains limited.
Experts believe that the shortage of supply compared to global demand, coupled with rapidly rising shipping costs and congestion at ports in Asia, has driven up pepper prices in importing markets, leading to price increases in the medium and long term.
