Will it exceed 134,000 VND/kg?

Pepper price forecast on June 3, 2024, due to concerns about supply shortages and continuously increasing shipping costs, is the reason for pepper prices to continue to increase, possibly exceeding 134,000 VND/kg.

After two consecutive days of increase, pepper prices in key growing areas on June 2 leveled off in the Central Highlands and Southeast regions, decreasing in some localities by 2,000 - 3,000 VND/kg.

Pepper price forecast on June 3, 2024: Will exceed 134,000 VND/kg

Accordingly, Dak Lak pepper price is purchased at 130,000 VND/kg, down from yesterday's price. Chu Se pepper price (Gia Lai) is currently at 130,000 VND/kg, down 2,000 VND/kg from yesterday. Dak Nong pepper price today is still recorded at 131,000 VND/kg, down 3,000 VND/kg.

In the Southeast region, pepper prices decreased slightly today. Accordingly, in Ba Ria - Vung Tau region, it decreased to 130,000 VND/kg, down 3,000 VND/kg and in Binh Phuoc region, it decreased to 131,000 VND/kg, down 1,000 VND/kg.

Local	Unit	Trader purchase price	Increase/decrease compared to yesterday
Chu Se (Gia Lai)	VND/kg	130,000	-
Dak Lak	VND/kg	130,000	-3,000
Dak Nong	VND/kg	131,000	- 1,000
Binh Phuoc	VND/kg	130,000	- 1,000
Ba Ria - Vung Tau	VND/kg	130,000	- 3,000

Domestic pepper price list today June 2, 2024

* Information for reference only. Prices may vary by location.

Update on world pepper prices from the International Pepper Community (IPC), early this morning (Vietnam time), Indonesian pepper prices continued to decrease compared to yesterday; Brazilian pepper prices increased sharply after many days of price stability, while Malaysian prices continued to stagnate. Vietnamese pepper prices increased sharply.

Specifically, the price of black pepper Lampung (Indonesia) today traded at 5,062 USD/ton, up 0.02%; the price of white pepper (Indonesia) traded at 7,382 USD/ton, down 0.41%.

Brazilian black pepper price ASTA 570 today is at 5,900 USD/ton, up 900 USD/ton (15.25%).

Malaysian ASTA black pepper price remains at USD 4,900/ton; Malaysian ASTA white pepper price remains at USD 7,300/ton.

Vietnam black pepper price is traded at 5,400 USD/ton for 500 g/l; 550 g/l at 5,900 USD/ton; white pepper price at 8,000 USD/ton.

The International Pepper Community commented that this week's pepper market showed mixed reactions, with only Chinese white pepper decreasing.

In recent years, pepper prices have remained low, causing pepper growers to lose interest in this crop, leading to a decrease in acreage. Many old pepper gardens have been replaced by other crops, especially durian.

Meanwhile, global demand for pepper continues to recover after the Covid-19 pandemic. The Chinese market has begun to import again after a long absence, helping demand skyrocket.

Datuk Seri Johari Abdul Ghani - Minister of Agriculture and Commodities of Malaysia expects that global pepper demand will continue its upward trajectory in 2024 and 2025. The reason is that the potential application of pepper in various fields, including pharmaceuticals and cosmetics... promotes a positive increase in consumption trends.

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-362024-se-vuot-moc-134000-dongkg-323833.html