Pepper price today August 31, 2024: Strong increase reaching 145,000 VND/kg
Pepper price today August 31, 2024 is around 143,000-145,000 VND/kg, pepper price increased sharply by 3,000 VND/kg compared to yesterday.
Domestic pepper price on August 31, 2024
Specifically, Dak Lak pepper price was purchased at 145,000 VND/kg, a sharp increase of 2,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 143,000 VND/kg, stable compared to yesterday. Dak Nong pepper price today was recorded at 144,500 VND/kg.
In the Southeast region, pepper prices today increased sharply from 2,500 to 3,000 VND compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 144,500 VND/kg, a sharp increase of 2,500 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 145,000 VND/kg.
Domestic pepper price list on August 31, 2024
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from last week (Unit: VND/kg) |
| Dak Lak | 145,000 | +2,000 |
| Gia Lai | 143,000 | - |
| Dak Nong | 144,500 | +1,500 |
| Ba Ria - Vung Tau | 144,500 | +2,500 |
| Binh Phuoc | 145,000 | +3,000 |
| Dong Nai | 144,500 | +2,500 |
Today, the average pepper price is at 144,400 VND/kg, a sharp increase of 3,000 VND/kg compared to yesterday, with the highest price at 145,000 VND/kg.
Pepper prices fell from a peak of VND180,000/kg in June to VND150,000/kg in July, then fell another 6-7% in August. Pepper prices recovered slightly at the end of August but did not reach VND145,000/kg. However, the current price is still 80% higher than at the beginning of the year and double that of the same period last year.
Vietnam has about 30% of its inventory, equivalent to 50,000 - 55,000 tons. Traditional markets have imported large quantities of pepper from Vietnam in the first half of the year, so they are not in a hurry to buy more. Although the supply is still low, pepper prices are unlikely to increase as sharply as at the beginning of the year. Prices are expected to stabilize at current levels in the coming time. Farmers hope that prices will increase again, but this possibility is low.
Loc Ninh (Binh Phuoc), after Chu Se - Gia Lai, is the second locality to be granted a collective trademark certificate for pepper, and is the first product of Binh Phuoc to register for intellectual property. This helps develop sustainable agriculture according to the Government's program, and contributes to making Vietnam become the world's leading pepper producer.
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 7,560 USD/ton (up 0.65%), and the price of Muntok white pepper at 8,901 USD/ton (up 0.64%).
The price of Brazilian ASTA 570 black pepper was at 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 for 500 g/l; 550 g/l at 6,200 USD/ton; the price of white pepper at 8,800 USD/ton.
In July, Vietnam imported 1,855 tons of pepper, including 1,086 tons of black pepper and 769 tons of white pepper, down slightly by 4.9% compared to June. The total amount of pepper imported from the beginning of the year to the end of July was 19,857 tons, with a total value of 80.3 million USD, up 14.9% over the same period last year.
The top three pepper importers were Olam Vietnam, Tran Chau and KSS Vietnam, with import volumes of 7,317 tonnes, 2,087 tonnes and 1,025 tonnes, respectively.
Brazil, Cambodia and Indonesia are the three main countries exporting pepper to Vietnam, with import volumes of 7,322 tons, 6,485 tons and 4,211 tons respectively. Compared to last year, imports from Brazil decreased significantly by 32.3%, while imports from Cambodia and Indonesia skyrocketed, by 121.5% and 103% respectively.
