Pepper price today October 8, 2024: Continue to decrease sharply

Pepper price today, October 8, 2024, in the Southeast and Central Highlands regions, is trading around 146,000 - 147,000 VND/kg. On average, in key pepper growing areas, it decreased by 500 VND/kg, some localities remained the same compared to yesterday.

Accordingly, Dak Lak pepper price is purchased at 147,000 VND/kg, down 500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is purchased at 146,000 VND/kg, down 500 VND/kg. Dak Nong pepper price today is recorded at 147,000 VND/kg, also down 500 VND/kg.

In the Southeast region, pepper prices today (October 8, 2024) mainly fluctuated compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 146,500 VND/kg, down 500 VND/kg compared to yesterday. In Binh Phuoc, pepper prices today are at 147,000 VND/kg, unchanged compared to yesterday.

Thus, pepper price today October 8, 2024 is around 146,000 - 147,000 VND/kg, down slightly by 500 VND/kg compared to yesterday.

Giá tiêu hôm nay 8/10/2024: Tiếp tục giảm sâu

Pepper price today October 8, 2024: Continues to decrease significantly.

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 6,702 USD/ton, and the price of Muntok white pepper at 8,961 USD/ton.

Brazilian ASTA 570 black pepper price is at 6,850 USD/ton. Malaysian ASTA black pepper price remains at 8,900 USD/ton; ASTA white pepper price of this country reaches 11,400 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...

Last September, Vietnam exported 17,707 tons of pepper, earning 110.5 million USD. Compared to the previous month, the export volume decreased by 8.8% and the value decreased by 5.4%. However, compared to the same period last year, the volume decreased by 2.2% but the value increased significantly by 63.7%.

In the first nine months of the year, total pepper exports reached 200,637 tons, worth nearly $990 million. Export volume decreased by 2.6% compared to the same period last year, but value increased by 45%. Average export price reached $4,933/ton, up 49% compared to last year.

Notably, the average export price in September reached its highest level in nearly 8 years, reaching 6,239 USD/ton, up 3.8% compared to August and 67.5% compared to September last year. This has helped Vietnam's pepper exports surpass the target of 170,000 tons set for 2024.

The decrease in export volume in September is a sign that domestic pepper supply is decreasing. The main reason is that farmers still keep the habit of stockpiling pepper and are not in a hurry to sell it on the market, along with agents selling pepper to have capital to invest in the upcoming coffee season. In addition, consumption demand has not increased strongly, causing pepper prices to decrease slightly.

However, the Vietnamese pepper industry is enjoying high export prices due to limited supply. This year, pepper prices have skyrocketed from VND87,000/kg to VND150,000/kg, bringing joy to pepper farmers. However, export enterprises are having difficulty buying domestic pepper due to high prices, forcing them to import from Brazil and Indonesia.

Pepper stocks from 2023 and imports in 2024 are estimated at around 40,000 to 45,000 tonnes, including smuggled goods. The amount of pepper available for export by the end of 2024 will be less than in previous years, until the new crop begins in March 2025.

Experts predict that supply shortages may affect pepper prices in the near future. However, a strong pepper market in 2024 will further promote the industry.