Pepper price today August 26, 2024: Last week increased sharply by 4,000 VND/kg
Pepper price today August 26, 2024 is around 143,000-144,000 VND/kg. Last week, pepper price increased sharply again from 3,000 to 4,000 VND/kg.
Domestic pepper price on August 26, 2024
Specifically, Dak Lak pepper price was purchased at 144,000 VND/kg, a sharp increase of 4,000 VND compared to last week. Chu Se pepper price (Gia Lai) was purchased at 143,000 VND/kg, a sharp increase of 3,000 VND compared to last week. Dak Nong pepper price today was recorded at 144,000 VND/kg.
In the Southeast region, pepper prices today increased sharply compared to last week. Specifically, in Ba Ria - Vung Tau, it is currently at 143,000 VND/kg, an increase of 3,500 VND compared to last week; in Binh Phuoc, pepper prices today are at 143,000 VND/kg, an increase of 4,000 VND/kg compared to last week.
Domestic pepper price list August 26, 2024
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from last week (Unit: VND/kg) |
| Dak Lak | 144,000 | 4,000 |
| Gia Lai | 143,000 | 3,000 |
| Dak Nong | 144,000 | 4,000 |
| Ba Ria - Vung Tau | 143,000 | 3,500 |
| Binh Phuoc | 143,000 | 4,000 |
| Dong Nai | 143,000 | 3,500 |
The Vietnam Pepper and Spice Association (VPSA) forecasts that Vietnam's pepper output will reach 170,000 tons in 2024. The expected coffee output for the 2023-2024 crop year is 1.5 million tons, according to the Vietnam Coffee-Cocoa Association, much higher than pepper.
Globally, pepper production is estimated at 465,000 tonnes, while coffee is around 10.2 million tonnes.
Mr. Ho Tri Nhuan, Director of Gohan Company, at the VPSA conference, expressed the view that not having a commodity exchange could be better because it allows farmers, traders and businesses to decide prices themselves.
Mr. Nhuan also worries that if there is an exchange, large hedge funds could make it difficult for businesses by pushing up prices.
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 7,490 USD/ton (up 0.88% last week), and the price of Muntok white pepper at 8,818 USD/ton (up 0.88% last week).
Brazilian ASTA 570 black pepper prices increased to USD 6,300/ton (up 2.02% last week). Malaysian ASTA black pepper prices remained stable at USD 8,500/ton; the price of ASTA white pepper of this country 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.
Ms. Hoang Thi Lien, Chairwoman of the Vietnam Pepper Association (VPSA), announced that the Ministry of Industry and Trade is considering opinions from businesses regarding the establishment of a Commodity Exchange, where pepper will be among the commodities traded.
The idea of establishing a trading floor for pepper is not new, it was proposed by VPSA, then the Vietnam Pepper Association, 8 years ago, in May 2016.
The association believes that, with Vietnamese pepper accounting for more than 50% of global trade output for many years, the establishment of the trading floor will enhance the ability to develop the market and influence the global pepper trade.
According to VPA, pepper can be stored in warehouses for two to three years, allowing farmers to hold onto their stock and wait for the best price to sell, something that rarely happens with other agricultural products.
However, this mentality of waiting for good prices makes the pepper market unstable, and this is one of the main reasons why VPA wants to establish a pepper trading floor.
