Pepper price today August 23, 2024: Increased for the 5th day, reaching 145,000 VND/kg
Pepper price today August 23, 2024 is around 144,000-145,000 VND/kg, a sharp increase of 1,000 to 2,000 compared to yesterday. Vietnam currently has about 30% pepper inventory.
Domestic pepper price on August 23, 2024
Specifically, Dak Lak pepper price was purchased at 145,000 VND/kg, a slight increase of 1,000 VND compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 144,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 145,000 VND/kg, a slight increase of 1,000 VND/kg compared to yesterday.
In the Southeast region, pepper prices today increased by 1,000 to 2,000 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 144,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 144,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday.
Domestic pepper price list on August 23, 2024
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from last week (Unit: VND/kg) |
| Dak Lak | 145,000 | +1,000 |
| Gia Lai | 144,000 | +2,000 |
| Dak Nong | 145,000 | +1,000 |
| Ba Ria - Vung Tau | 144,000 | +1,000 |
| Binh Phuoc | 144,000 | +2,000 |
| Dong Nai | 144,000 | +1,000 |
Thus, pepper prices increased for the 5th consecutive day today, with a uniform increase of 5,000 - 6,000 VND/kg, bringing the price to a new high of 145,000 VND/kg in Dak Lak and Dak Nong areas.
In the first half of August 2024, Vietnam exported 10,006 tons of pepper, earning 59.59 million USD. As of August 15, 2024, Vietnam's total pepper export volume was 173,372 tons, with a total value of 820.16 million USD.
Due to the scarcity of pepper supply both domestically and internationally, pepper prices are expected to remain stable at high levels, helping to increase export value despite a decrease in export quantity.
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 7,537 USD/ton (up 0.16%), and the price of Muntok white pepper at 8,874 USD/ton (up 0.15%).
The price of Brazilian ASTA 570 black pepper increased to 6,300 USD/ton (up 2.02%). The price of Malaysian ASTA black pepper remained stable at 8,500 USD/ton; the price of this country's ASTA white pepper reached 10,400 USD/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 Vietnam Pepper and Spices Association (VPSA) said pepper prices are likely to increase due to high global demand and limited supply. Vietnam’s pepper exports have increased sharply this year, expected to reach $1 billion in revenue.
In the first 7 months of 2024, Phuc Sinh maintained an 8% global market share, with the United States as the main market. The pepper industry is growing, with total export volume increasing by 40% and average export prices doubling compared to the previous year.
Vietnam currently has about 30% of pepper inventory, about 50,000 - 55,000 tons. VPSA predicts that pepper output next year will be equal to or higher than 2024, although the inventory among farmers is low and the pest situation is still present but not too serious.
