Pepper price today August 28, 2024: Continues to stabilize at 144,000 VND
Pepper price today August 28, 2024 is around 143,000-144,000 VND/kg, Gia Lai pepper price continues to increase by 500 VND compared to yesterday.
Domestic pepper price on August 28, 2024
Specifically, Dak Lak pepper price is purchased at 144,000 VND/kg. Chu Se pepper price (Gia Lai) is purchased at 144,000 VND/kg, a slight increase of 500 VND compared to yesterday. Dak Nong pepper price today is 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 28, 2024
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from last week (Unit: VND/kg) |
| Dak Lak | 144,000 | - |
| Gia Lai | 144,000 | +500 |
| Dak Nong | 144,000 | - |
| Ba Ria - Vung Tau | 143,000 | - |
| Binh Phuoc | 143,000 | - |
| Dong Nai | 143,000 | - |
Mr. Hoang Phuoc Binh, Vice Chairman and General Secretary of the Chu Se Pepper Association in Gia Lai, said that the current cost of pepper production is from 70,000 to 80,000 VND per kilogram. Specifically, the production cost in the Central Highlands is 70,000 VND/kg, while in the Southeast region it is 80,000 VND/kg.
Although pepper prices are quite attractive, the number of farmers returning to pepper cultivation is very small, not enough to be counted in statistics. Every year, about 5-7% of pepper plants die naturally and the current new planting area is even lower than this rate.
Mr. Ho Tri Nhuan, Director of Gohan Company, expressed his opinion at the VPSA conference that not having a commodity exchange could be better because it allows farmers, traders and businesses to decide prices themselves.
Mr. Nhuan also emphasized that the existence of the exchange could cause difficulties for businesses because hedge funds have the ability to greatly influence the market.
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 7,574 USD/ton (up 1.12%), and the price of Muntok white pepper at 8,918 USD/ton (up 1.13%).
The price of Brazilian ASTA 570 black pepper increased to USD 6,450/ton (up 2.38%). 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.
Pepper prices on the world market are rising in Indonesia and Brazil, but unchanged in other countries. The weakening of the US dollar, due to expectations that the Fed will cut interest rates, has helped support the prices of pepper and other agricultural products.
Vietnam's pepper output in 2024 is expected to be around 170,000 tons, according to the Vietnam Pepper and Spice Association (VPSA). Coffee output in the 2023-2024 crop year is estimated at 1.5 million tons, much higher than pepper, according to the Vietnam Coffee and Cocoa Association.
Globally, pepper production is estimated at 465,000 tonnes, while coffee is around 10.2 million tonnes.
