Domestic pepper price today
Pepper price today, November 24, 2024, domestic pepper price increased across the board compared to yesterday, November 23, 2024. Accordingly, the average pepper price in Ba Ria - Vung Tau, Dak Lak and Dak Nong is at 140,000 VND/kg. Gia Lai purchases at 139,500 VND/kg while Binh Phuoc has the lowest price at 139,000 VND/kg.
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Pepper price today, November 24, 2024 increased by 1,000 VND/kg |
The average pepper price today, November 24, 2024, is at 139,700 VND/kg, an increase of about 1,000 VND/kg compared to yesterday, November 23, 2024.
Factors affecting pepper prices include abundant supply in key growing areas: The new harvest in major localities such as Dak Lak, Gia Lai, and Binh Phuoc has pushed up supply, putting pressure on selling prices.
Demand has not yet broken through at the end of the year: Even though it is the end of the year, domestic consumption and export demand is still not really strong, making it difficult for prices to increase.
Impact from the international market: Stable pepper prices in major markets such as Indonesia and Brazil reduce the possibility of price increases in the global market, directly affecting Vietnamese pepper prices.
Market sentiment: The wait-and-see mentality of major importers, especially in Europe and the US, is slowing down trading activities.
Pepper growers and businesses need to be flexible in production and business strategies to take advantage of opportunities from year-end demand, while preparing to deal with unexpected fluctuations from the international market.
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| Domestic pepper price today November 24, 2024 |
World pepper price today
While domestic pepper prices decreased, the world pepper price update from the International Pepper Community (IPC), at the end of the most recent trading session, the market remained stable, unchanged from 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 is at 6,000 USD/ton. The price of Malaysian ASTA black pepper is at 8,400 USD/ton; the price of this country's ASTA white pepper is 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.
Currently, pure pepper gardens are gradually decreasing, replaced by intercropping models with coffee and fruit trees, helping to improve soil nutrition and effectively prevent pests and diseases. Vietnam maintains its leading position in the world in pepper production and export, with about 200 participating enterprises. Of which, the top 15 enterprises account for 70% of export volume, and 5 foreign-invested enterprises control nearly 30% of market share. The whole industry has 14 deep processing factories, meeting international standards such as ASTA, ESA, JSSA.
Despite the development of processing technology, Vietnamese pepper is still mainly exported in raw form, with a lower value than that of India and Malaysia. To increase export value, businesses need to invest more in deep processing and clean production, diversifying products and markets. The Vietnam Pepper Association (VPSA) recommends focusing on improving product quality from the cultivation stage, aiming to penetrate deeper into the global pepper supply chain.
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| World pepper price on November 24, 2024 |
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