Pepper prices today, August 19, 2024: Forecast for a sharp increase.
Today, August 19, 2024, pepper prices range from 138,000 to 140,000 VND/kg, a sharp increase of 1,500 to 3,000 VND compared to the end of last week. Pepper prices are forecast to continue rising sharply this week due to crop failure in Brazil.
Domestic pepper prices on August 19, 2024
Specifically, the price of pepper in Dak Lak is being purchased at 140,000 VND/kg, a sharp increase of 3,000 VND compared to the end of last week. The price of pepper in Chu Se (Gia Lai) is being purchased at 138,000 VND/kg, a sharp increase of 1,500 VND compared to August 17th. The price of pepper in Dak Nong today is recorded at 139,000 VND/kg, a sharp increase of 2,500 VND/kg compared to the end of last week.
In the Southeast region, pepper prices today have uniformly increased sharply by 2,000 VND/kg compared to the end of last week. Specifically, in Ba Ria - Vung Tau, the price is currently at 138,000 VND/kg, up 2,000 VND/kg from yesterday; in Binh Phuoc, the price of pepper today is also at 138,000 VND/kg, up 2,000 VND/kg from yesterday.
Thus, today's pepper prices (August 19th) have increased sharply by 1,500 to 3,000 VND/kg in some localities in key growing regions, reaching a high of 140,000 VND, fluctuating in the range of 138,000 – 140,000 VND/kg.
Domestic pepper price list as of August 19, 2024
| Province/District (Survey Area) | Purchase price (Unit: VND/kg) | Change compared to last week (Unit: VND/kg) |
| Dak Lak | 140,000 | +3,000 |
| Gia Lai | 138,000 | +1,500 |
| Boeing Nong | 139,000 | +2,500 |
| Ba Ria - Vung Tau | 138,000 | +2,000 |
| Binh Phuoc | 138,000 | +2,000 |
| Dong Nai | 138,000 | +2,000 |
In August, domestic pepper prices fluctuated slightly and mostly trended downwards, causing disappointment for farmers, traders, and investors. This was also the main topic on pepper forums, where people were paying close attention to the market situation.
Currently, Vietnam's pepper prices are the lowest in the world, with black pepper priced at 146,334 VND/kg, compared to Indonesia at 187,005 VND/kg, Malaysia at 214,455 VND/kg, and Brazil at 155,796 VND/kg.
The global pepper market is worth approximately $5.4 billion and is expected to grow strongly in the coming years. Vietnam plays a significant role in this market, accounting for 40% of global production and 60% of global exports.
Brazil, the world's second-largest producer of black pepper, is facing difficulties due to successive crop failures. This is expected to drive global pepper prices higher in the final months of 2024, as supplies from other major producing countries also decrease.
Today's world pepper prices
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$7,412/ton (down 0.18%) and Muntok white pepper at US$8,728/ton (down 0.18%).
Brazilian ASTA 570 black pepper prices remained stable at US$6,195/ton. Malaysian ASTA black pepper prices also 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.
