Pepper price today 11/23/2024: Ups and downs erratically

Domestic pepper price today

Pepper price today, November 23, 2024, the domestic pepper price situation suddenly decreased sharply compared to yesterday, November 22, 2024. Binh Phuoc is the locality with the deepest decrease with a decrease of up to 2,000 VND/kg, followed by Dak Nong with a decrease of 1,200 VND/kg, then Gia Lai and Dak Lak both decreased by 1,000 VND/kg; finally Ba Ria - Vung Tau decreased by 500 VND/kg compared to yesterday.

Domestic pepper prices on November 23, 2024 fluctuate erratically.

After this deep discount, pepper price in Binh Phuoc is only 138,000 VND/kg, Gia Lai 138,500 VND/kg; the remaining areas such as Ba Ria - Vung Tau, Dak Lak and Dak Nong are higher than the remaining localities, at 139,000 VND/kg.

The average pepper price today, November 23, 2024, fluctuates between 138,000 - 139,000 VND/kg, down 1,100 VND/kg compared to yesterday, November 22, 2024.

Pepper prices have been gloomy and falling since the beginning of the week. The sharp increase in pepper prices yesterday, November 22, 2024, seemed to restart the series of days of strong increases in pepper prices; however, today, November 23, 2024, it suddenly dropped sharply.

World pepper price today

While domestic pepper prices have decreased, according to updated information on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, the market remained stable, sideways compared to the previous update.

IPC listed the price of Indonesian Lampung black pepper at 6,470 USD/ton; the price of Muntok white pepper at 9,055 USD/ton. The price of Brazilian ASTA 570 black pepper was at 6,000 USD/ton. The price of Malaysian ASTA black pepper was at 8,400 USD/ton; the price of this country's ASTA white pepper was at 10,500 USD/ton.

Of which, the price of Vietnamese black pepper is stable at 6,200 USD/ton for 500 g/l, 550 g/l remains at 6,500 USD/ton; the price of white pepper is at 9,400 USD/ton, unchanged.

According to data from the Vietnam Pepper and Spice Association, the structure of Vietnam's pepper export categories in the first 10 months of the year has had certain changes with a strong increase in ground pepper and a gradual decrease in whole pepper.

Whole black pepper is still the most exported product of Vietnam with a volume of nearly 160 thousand tons, accounting for 72.9%. Whole white pepper exports also decreased with 16,639 tons and accounting for 14.8% of total exports.

Meanwhile, ground black pepper exports reached more than 32,000 tons, a sharp increase over the same period; ground white pepper reached 8,853 tons.

With this result, Vietnam's whole pepper export rate is at about 80.5% and the milling and other processing rate is 19.5%.

According to statistics from the Vietnam Pepper and Spice Association, there are currently about 200 pepper processing and trading enterprises nationwide, including 15 leading enterprises, accounting for 70% of the country's export volume. The entire industry has 14 deep processing factories. In particular, there are 5 foreign-invested enterprises, accounting for nearly 30% of the export market share.