Pepper prices increase, surpassing 142,000 VND/kg

Update pepper price today November 28, 2024, pepper price increased, exceeded 142,000 VND/kg, average 141,300 VND/kg, what is the latest pepper price on November 28?

Domestic pepper price today

Pepper price today, November 28, 2024, domestic pepper price increased compared to yesterday, November 27, 2024. Gia Lai, Dak Lak, Binh Phuoc provinces all increased by 1,000 VND/kg, Dak Nong increased by 1,200 VND/kg. Only Ba Ria - Vung Tau province decreased by 1,000 VND/kg.

Pepper price today November 28, 2024 increased. Photo: Hoang Thien

Accordingly, the pepper price today, November 28, 2024, in Ba Ria - Vung Tau is at 140,000 VND/kg, Binh Phuoc 141,000 VND/kg, Gia Lai 141,500 VND/kg, Dak Lak 142,000 VND/kg. Dak Nong province alone has the highest price at 142,200 VND/kg. The average pepper price today, November 28, 2024 is at 141,300 VND/kg, an increase of 600 VND/kg compared to yesterday, November 27, 2024.

It is forecasted that the area for pepper and spice cultivation will decrease to about 110,000 hectares in the coming time. The main reasons are unfavorable weather, pests and diseases, along with the increase in prices of many other agricultural products. In addition, market expansion is difficult, some markets are reducing imports and increasing technical regulations and standards for Vietnamese pepper products. Therefore, the control of the production process, including soil health and crop quality, will become more stringent.

Vietnam is one of the world's largest exporters of pepper and spices, accounting for about 11% of the global market share in 2023. In the first 10 months of 2024, Vietnam's export output reached 219,000 tons. Products such as pepper, cinnamon, and star anise are effectively exported to potential markets such as the United States, the EU, China, India, and the Middle East.

Pepper price update today 11/28/2024

World pepper price today

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, the market was basically stable compared to the previous update, except for the Indonesian market which decreased slightly.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,596 USD/ton; down 0.42%; the price of Muntok white pepper at 9,101 USD/ton, down 0.42%.

Brazilian ASTA 570 black pepper prices remained stable at $6,000/ton. Malaysian ASTA black pepper prices were at $8,400/ton; the country’s ASTA white pepper prices reached $10,500/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.