Pepper export prices rebound, still maintained at high levels

Pepper price today, October 10, 2024, in key areas increased by 1,500 - 2,000 VND/kg compared to yesterday and traded around 146,000 - 148,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces was 148,000 VND/kg.

Accordingly, Dak Lak pepper price was purchased at 148,000 VND/kg, an increase of 1,500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 146,000 VND/kg, unchanged from yesterday. Dak Nong pepper price today was recorded at 148,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday.

In the Southeast region, pepper prices today (October 10, 2024) mainly fluctuated compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 147,500 VND/kg, an increase of 1,500 VND/kg compared to yesterday. In Binh Phuoc, pepper prices today are at 146,000 VND/kg, stable compared to yesterday.

Thus, pepper price today October 10, 2024 increased from 1,500 - 2,000 VND/kg to around 146,000 - 148,000 VND/kg. The highest price recorded was 148,000 VND/kg.

Giá tiêu hôm nay 10/10/2024: Thị trường đi lên

Pepper price today October 10, 2024: Rebounding, pepper export price remains high

World pepper price today:

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,706 USD/ton, and the price of Muntok white pepper at 8,966 USD/ton.

The price of Brazilian ASTA 570 black pepper is at 6,750 USD/ton. The price of Malaysian ASTA black pepper is at 8,800 USD/ton; the price of this country's ASTA white pepper is at 11,200 USD/ton.

The price of Vietnamese black pepper remains stable at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; the price of white pepper remains at 10,150 USD/ton...

According to the report of the Vietnam Pepper and Spice Association, in September, Vietnam imported 2,430 tons, of which black pepper reached 2,233 tons, white pepper reached 197 tons, the total import turnover reached 13.6 million USD, compared to August, the import volume increased by 63.0%. Olam, Phuc Sinh and Tran Chau are the 3 main importers while Indonesia is the largest pepper supplier to Vietnam with 1,787 tons, up 460.2% compared to the previous month.

Cumulatively, in the first 9 months of 2024, Vietnam imported 23,778 tons of pepper of all kinds, of which black pepper reached 20,890 tons, white pepper reached 2,888 tons, total import turnover reached 102.0 million USD, compared to the same period in 2023, the import volume increased by 15.8%.

The main importing enterprises include: Olam Vietnam, Pearl Group, KSS Vietnam, Phuc Sinh and Lien Thanh, in which Olam holds the largest market share of 35.7% reaching 8,498 tons, up 11.0%. Brazil, Cambodia and Indonesia are the three main pepper suppliers to Vietnam, accounting for 90.3% reaching 8,512 tons, 6,651 tons and 6,317 tons respectively, in which imports from Brazil decreased by 32.0% while imports from Cambodia increased by 95.4% and Indonesia increased by 134.2%.

China's economy in 2024 faces many challenges, including slow growth, falling consumer demand and difficulties in foreign exchange reserves.

These issues have affected China’s overall import levels, as businesses prioritize essential goods over items like pepper. Cautious spending and reduced purchasing power have curbed imports in many areas, including spices.

Commenting on the market in the coming time, according to experts, domestic pepper prices will remain below 150,000 VND/kg in the context of high gold and USD prices and the preparation for the new coffee harvest. In addition, Vietnam's pepper export prices will remain stable at a high level due to limited supply.

Domestic pepper price on October 10, 2024