Sideways for the second consecutive day, around 141,000 VND/kg

Update pepper price today November 5, 2024, Dak Lak pepper price, Gia Lai pepper price, Ba Ria - Vung Tau pepper price today increase or decrease; What is the latest pepper price on November 5?

Pepper prices today, November 5, 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.

Pepper price today November 5, 2024: Sideways for the second consecutive day around 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.

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

Overall, pepper prices are still under pressure from low demand and the continued rise of the US dollar. Vietnam’s pepper exports have continuously decreased in recent months.

According to the Ministry of Agriculture and Rural Development, in the first 10 months of 2024, Vietnam exported about 220.3 thousand tons of pepper, with an estimated value of 1.12 billion USD. Officially surpassing 1 billion USD after many years of waiting. Although the volume of pepper exported decreased by 2.3% compared to the same period last year, the value increased sharply by 48.2%.

The average export price of pepper in the first 10 months of 2024 is estimated at 5,084 USD/ton, an increase of 51.7% over the same period in 2023.

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. The overall pepper supply is still lower than the demand, so the price of this item is likely to remain at a good level.

In particular, the current pepper price is quite high compared to previous years, many farmers have made high profits. Short-term price increases and decreases may occur because this commodity is affected by many factors.

In the short term, the pepper market is expected to continue to face many fluctuations. Pepper prices may remain stable or decrease slightly due to limited supply and no signs of strong recovery in demand.

World pepper price today

Update on world pepper prices from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,671 USD/ton, down 0.18% compared to yesterday, and the price of Muntok white pepper at 9,133 USD/ton, down 0.19% compared to 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.

Assessing the market last week, the International Pepper Community said that after a month of decline, both domestic and export pepper prices in India recorded an increase last week. The main reason was that India celebrated Diwali. Sri Lankan pepper prices also increased this week.

In Southeast Asia, as the Indonesian Rupiah depreciated by 1% against the USD (IDR 15,732/USD), both domestic and export pepper prices recorded increases last week.

Meanwhile, domestic and export pepper prices in Malaysia continued to decline since last week, partly due to the impact of the 1% depreciation of the Malaysian Ringgit against the USD (MYR 4.38/USD).

Only Vietnam's white pepper export price recorded an increase, other types reported a decrease.

Meanwhile, the price of Brazilian black pepper as well as Chinese white pepper remained stable last week. Meanwhile, the price of Cambodian black pepper recorded an increase.

Domestic pepper price on November 5, 2024