Pepper price today August 19, 2024: Forecast to increase sharply
Pepper prices today, August 19, 2024, range from 138,000 to 140,000 VND/kg, a sharp increase of 1,500 to 3,000 VND compared to last weekend. Pepper prices are forecast to continue to increase sharply this week due to crop failure in Brazil.
Domestic pepper price on August 19, 2024
Specifically, Dak Lak pepper price was purchased at 140,000 VND/kg, a sharp increase of 3,000 VND compared to the end of last week. Chu Se pepper price (Gia Lai) was purchased at 138,000 VND/kg, a sharp increase of 1,500 VND compared to August 17. Dak Nong pepper price today was 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 increased sharply by 2,000 VND/kg compared to last weekend. Specifically, in Ba Ria - Vung Tau, it is currently at 138,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 138,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday.
Thus, pepper prices today, August 19, increased sharply from 1,500 to 3,000 VND/kg in some localities in key growing areas, recording the highest price of 140,000 VND, fluctuating in the price range of 138,000 - 140,000 VND/kg.
Domestic pepper price list on August 19, 2024
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from last week (Unit: VND/kg) |
| Dak Lak | 140,000 | +3,000 |
| Gia Lai | 138,000 | +1,500 |
| Dak 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 mainly in a downward trend, causing disappointment for farmers, traders and investors. This was also the main topic on pepper forums, where people were paying attention to the market situation.
Currently, Vietnam's pepper price is the lowest in the world, with black pepper price at 146,334 VND/kg, compared to Indonesia's 187,005 VND/kg, Malaysia's 214,455 VND/kg, and Brazil's 155,796 VND/kg.
The global pepper market is worth around $5.4 billion and is expected to grow strongly in the coming years. Vietnam plays a major role in this market, accounting for 40% of global output and 60% of global exports.
Brazil, the world’s second-largest producer of black pepper, is struggling with a series of crop failures, which are expected to push global pepper prices higher in the final months of 2024 as supplies from other major producers also decline.
World pepper price today
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 7,412 USD/ton (down 0.18%), and the price of Muntok white pepper at 8,728 USD/ton (down 0.18%).
The price of Brazilian ASTA 570 black pepper was stable at USD 6,195/ton. 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.
