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Domestic Pepper Prices Experience Uniform Decline on August 15, 2023

August 15, 2023

The domestic pepper market in Vietnam has witnessed a simultaneous reduction in prices by 500 Vietnamese dong per kilogram on August 15, 2023.

Specifically, in the Central Highlands region, pepper prices hover around 70,000 to 71,000 Vietnamese dong per kilogram. Notably, Chư Sê pepper (Gia Lai) is being procured by traders at 70,000 Vietnamese dong per kilogram, down by 500 Vietnamese dong. Similarly, Đắklắk and Đắk Nông peppers are priced at 71,000 Vietnamese dong per kilogram, marking a reduction of 500 Vietnamese dong.

In the Southeastern region, pepper prices have decreased by 500 Vietnamese dong per kilogram. Notably, Bà Rịa - Vũng Tàu pepper now stands at 73,000 Vietnamese dong per kilogram. Đồng Nai pepper is priced at 70,500 Vietnamese dong per kilogram, and Bình Phước pepper has reached 72,500 Vietnamese dong per kilogram, both down by 500 Vietnamese dong. Consequently, domestic pepper prices continue to decline following several stagnant sessions throughout the past week. The trading market remains subdued. Many businesses express skepticism about the current market conditions, despite the potential long-term upward trend due to global production decreases.

On the global stage, the International Pepper Community (IPC) reported that Lampung black pepper (Indonesia) concluded at $4,251.00 per metric ton on August 14, representing a 2.87% increase.

For other nations, prices have remained relatively stable. Specifically, Brazil's ASTA 570 black pepper is priced at $23,350.00 per metric ton; Kuching ASTA black pepper from Malaysia maintains its value at $4,900.00 per metric ton, and Malaysian ASTA white pepper remains at $7,300.00 per metric ton.

Turning to Vietnamese pepper, black pepper is trading at $3,500.00 per metric ton for the 500 g/l variety and at $3,600.00 per metric ton for the 550 g/l variety. White pepper is priced at $5,100.00 per metric ton.

Data from the International Pepper Community indicates that Indonesia's pepper production was 83,000 tons in 2021, dropped to 65,000 tons in 2022, and further decreased to 55,000 tons in 2023. Additionally, the possibility of Indonesia's export volume continuing to decrease in 2023 is supported by statistics from Indonesia's Central Statistics Agency (BPS), which reveals a 31.2% decline in pepper exports during the first five months of the year compared to the same period last year.

According to Congthuong





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