Pepper price today August 27, 2024: Gia Lai pepper price increased by 500 VND
Pepper price today August 27, 2024 is around 143,000-144,000 VND/kg, Gia Lai pepper price increased by 500 VND compared to yesterday.
Domestic pepper price on August 27, 2024
Specifically, Dak Lak pepper price was purchased at 144,000 VND/kg. Chu Se pepper price (Gia Lai) was purchased at 143,000 VND/kg, a slight increase of 500 VND compared to yesterday. Dak Nong pepper price today was recorded at 144,000 VND/kg.
In the Southeast region, pepper prices today are stable compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 143,000 VND/kg; in Binh Phuoc, pepper prices today are at 143,000 VND/kg, unchanged from yesterday.
Domestic pepper price list August 27, 2024
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from last week (Unit: VND/kg) |
| Dak Lak | 144,000 | - |
| Gia Lai | 143,500 | +500 |
| Dak Nong | 144,000 | - |
| Ba Ria - Vung Tau | 143,000 | - |
| Binh Phuoc | 143,000 | - |
| Dong Nai | 143,000 | - |
Businesses warned that listing pepper on the exchange could be highly risky due to speculation and negatively affect the market.
Mr. Le Duc Huy, Director of Simexco Dak Lak, recommends caution when trading pepper on the floor due to the high risk of speculation. He compared it to coffee, a product that has been dominated by hedge funds and financial institutions, despite its large output.
Pepper production is much lower than coffee, increasing the possibility of being manipulated by large funds and causing price fluctuations that do not follow actual supply and demand.
Mr. Ho Tri Nhuan, Director of Gohan Company, is also concerned that having a trading floor may not be good for the current pepper market.
The absence of an exchange would allow farmers, traders and businesses to determine prices themselves, while the presence of an exchange could create great pressure from hedge funds.
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, and the price of Muntok white pepper at 8,818 USD/ton.
Brazilian ASTA 570 black pepper prices increased to USD 6,300/ton. Malaysian ASTA black pepper prices remained stable at USD 8,500/ton; the country's ASTA white pepper prices 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.
The Vietnam Pepper and Spice Association forecasts that the Chinese market will not increase its purchasing power until the end of the year. Global pepper demand is increasing, with the EU being the main market for Vietnamese pepper.
Vietnamese enterprises have the capacity to process large amounts of pepper, up to 140,000 tons per year, creating opportunities for the industry to develop.
Pepper prices are expected to continue to increase this week, especially before the National Day holiday, which is expected to push prices up to early August 2024.
