There is a week with a strong price reduction of more than 2,500 VND/kg.

Pepper price today, November 4, 2024 fluctuates between 140,000 - 141,000 VND/kg, down 2,000 - 2,500 VND/kg compared to last week.

Pepper prices today, November 4, 2024, in the Southeast region maintained a flat price trend in most key regions, trading around 140,000 - 141,000 VND/kg; the highest purchase price in Dak Nong, Ba Ria - Vung Tau, Dak Lak provinces.

Accordingly, Dak Lak pepper price is purchased at 141,000 VND/kg. Chu Se pepper price (Gia Lai) is purchased at 140,000 VND/kg. Dak Nong pepper price today is recorded at 141,000 VND/kg.

In the Southeast region, pepper prices today have not fluctuated compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 140,000 VND/kg. In Ba Ria - Vung Tau, it is currently at 141,000 VND/kg.

Pepper price today November 4, 2024: There was a week of strong price reduction of more than 2,500 VND/kg

Thus, after 2 consecutive days of decline, domestic pepper prices today continued to move sideways in key growing areas. The highest pepper price was at 141,000 VND/kg. At the end of the week, pepper prices lost an average of 2,000 - 2,500 VND/kg.

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 6,683 USD/ton, unchanged from yesterday, and the price of Muntok white pepper at 9,150 USD/ton, stable from yesterday.

The price of Brazilian ASTA 570 black pepper is at 6,400 USD/ton. The price of Malaysian ASTA black pepper is at 8,500 USD/ton; the price of this country's ASTA white pepper is at 11,000 USD/ton.

In particular, the price of Vietnamese black pepper is stable at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; and white pepper price at 9,500 USD/ton.

The market continues to be under pressure as demand slows, while sellers seek to raise capital to invest in coffee, an agricultural product that is in harvest season. However, limited supply has helped pepper prices remain about 72-76% higher than at the beginning of the year and double the same period last year.

According to preliminary statistics from the General Department of Customs, in the past 10 months alone, Vietnamese enterprises have spent 108 million USD (equivalent to 2,700 billion VND) to import pepper. Compared to the same period last year, imports of this item increased sharply by 38.2%.

In particular, businesses mainly import pepper from Brazil, Indonesia and Cambodia.

Mr. Phan Minh Thong - Chairman of the Board of Directors of Phuc Sinh Joint Stock Company, said that the Vietnamese pepper industry is benefiting from high export prices due to limited supply.

Accordingly, this year pepper farmers benefited from the high selling price. On the contrary, export enterprises could not buy much domestic pepper. This is also part of the reason why Phuc Sinh had to import a lot of pepper from Brazil and Indonesia this year.

The reason is that, due to the decrease in output, people are holding back pepper for speculation. Along with that, the prolonged drought has made the domestic pepper supply increasingly difficult.

According to experts, Vietnam is about to enter the harvest season with an estimated output of around 170,000 tons, accounting for about 35-40% of the global supply. Therefore, the world pepper price may still fluctuate.

However, the overall pepper supply is still lower than demand, experts say the price of this item is likely to remain good. Cash flow is shifting to coffee, however, information about the delayed harvest has the market worried about medium-term supply.

Domestic pepper price on November 4, 2024