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DAILY: Vietnamese pepper prices remained unchanged on May 28, 2024 

 Tuesday, May 28,2024

AsemconnectVietnam - On Tuesday, domestic pepper prices in Vietnam's Central Highlands remained unchanged at VND119,000 - VND120,000 per kg compared to Yesterday due to low supply, according to Kinhtedothi.

In the South Asia region, India's domestic and international pepper prices both increased last week. Sri Lanka's domestic pepper prices have continued to increase since last week.
In Southeast Asia, Indonesia's domestic and export pepper prices recorded an increase this week when white pepper inventories were low in Bangka province.
Only Malaysian domestic pepper prices continued to increase in the past 2 weeks. Meanwhile, this country's export prices remained stable.
Vietnam's domestic and export pepper prices continued to increase over the past 3 weeks. Experts believe that the soaring domestic black pepper price is due to a lack of supply and increased demand in major markets such as Europe, the US and China. Meanwhile, Brazilian and Cambodian black pepper prices were stable in the past, while Chinese white pepper prices recorded an increase. The US market reported an increase despite rising ship prices and limited supply.
During the four-month period, Vietnam exported 83,067 tonnes of pepper worth $352 million, down 19.4% in volume but up 10.3% in value year on year, according to the Vietnam Pepper and Spice Association (VPSA).
The Vietnam Pepper and Spice Association has expected pepper prices to continue rising every week. Prices could hit new peaks of 350,000 - 400,000 VND per kilo - and even from this high base, increases will continue for the next decade. Although prices could fluctuate day by day, they are still on upward trend in the long term.
Experts said that this week the domestic and international pepper prices will not increase as fast as they did last week, but the market is not ready to cool down and it is likely to anchor at over 120,000 VND per kilo.
Shortage of empty containers has pushed marine freight costs up by an average of about 30% in recent weeks. This too has pushed up the price of agricultural products, including pepper.
Prices are also being pushed by demand outstripping supply and worryingly, while experts believe that the demand for spices will continue to increase, many Vietnamese pepper growing areas are barren, so there is not much room for expansion.
The volume of raw pepper sold on the market is also still low, because the pepper growers expect prices to continue to increase.
Following are domestic pepper prices on May 28, 2024, in the main pepper growing and consumption regions:

Province/District

Purchase price (VND/kg)

Vs. May 27

DAC LAC

 

 

— Ea H'leo

119,000

      -

GIA LAI

 

 

— Chu Se

119,000

-

DAK NONG

 

 

— Gia Nghia

119,500

       -

BA RIA - VUNG TAU

   

Average price

120,000

-

BINH PHUOC

 

 

Average price

119,000

      -

DoNG NAI

 

 

Average price

119,000

-


T.Huong
Source: Vitic
 

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 © Vietnam Industry and Trade Information Center ( VITIC)- Ministry of Industry and Trade 
License: No 115/GP-TTĐT dated June 05, 2024 by the Ministry of Information and Communications.
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