Pepper price today August 30, 2024: Stable domestic price, strong export increase
Pepper price today August 30, 2024 is around 143,000-144,000 VND/kg, pepper price is stable compared to yesterday. Pepper export price increased sharply to 300 USD/ton
Domestic pepper price on August 30, 2024
Specifically, Dak Lak pepper price was purchased at 143,500 VND/kg, stable compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 143,000 VND/kg. Dak Nong pepper price today was recorded at 143,000 VND/kg.
In the Southeast region, pepper prices today are stable compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 142,000 VND/kg; in Binh Phuoc, pepper prices today are at 143,000 VND/kg.
Domestic pepper price list on August 30, 2024
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from last week (Unit: VND/kg) |
| Dak Lak | 143,000 | - |
| Gia Lai | 143,000 | - |
| Dak Nong | 143,000 | - |
| Ba Ria - Vung Tau | 142,000 | - |
| Binh Phuoc | 142,000 | - |
| Dong Nai | 142,000 | - |
Pepper prices are currently affected by many factors such as supply and demand, weather conditions, and speculation. Importing pepper is more profitable than exporting due to the difference in buying and selling prices.
In May and June, pepper prices increased but export prices remained low, causing businesses to incur losses. The decline in supply and changes in farmers' cultivation, along with speculative activities, were the main causes of this situation.
Speculation causes buying at high prices and selling at low prices, leading to heavy losses. Businesses are under great pressure because export prices are lower than domestic prices.
World pepper prices today
Update on world pepper prices from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 7,511 USD/ton, and the price of Muntok white pepper at 8,844 USD/ton.
The price of Brazilian ASTA 570 black pepper increased to USD 6,450/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.
The price of Vietnamese black pepper suddenly increased, trading at 6,100 USD/ton (up 5.17%) for 500 g/l; 550 g/l at 6,200 USD/ton (up 4.83%); the price of white pepper at 8,800 USD/ton (up 3.53%).
IPC increases Vietnam's pepper export prices after many days of stability.
Experts say that the recent increase in pepper prices has caused many people to suffer losses. A few people make a profit, earning about 5,000 VND/kg, but the majority lose from 30,000 to 40,000 VND/kg.
The average export price of pepper of enterprises is lower than the domestic purchase price. Farmers often believe that enterprises have big profits, but in fact, in the context of unstable market, all enterprises must strive to survive, not just develop.
