Decreased by 200 VND/kg in Dak Nong to 141,000 VND/kg

Pepper prices today, November 3, 2024, in the Southeast region maintained a flat price trend in most key regions, except for Dak Nong, which slightly decreased by 200 VND/kg, trading around 140,000 - 141,000 VND/kg; the highest purchase price was in Dak Nong, Ba Ria - Vung Tau, and Dak Lak provinces.

Accordingly, the price of Dak Lak pepper was purchased at 141,000 VND/kg, stable compared to yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 140,000 VND/kg, stable compared to yesterday. The price of Dak Nong pepper today was recorded at 141,000 VND/kg, down 200 VND/kg compared to yesterday.

Pepper price today November 3, 2024: Down 200 VND/kg in Dak Nong

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, stable compared to yesterday. In Ba Ria - Vung Tau, it is currently at 141,000 VND/kg, stable compared to yesterday.

Thus, domestic pepper prices today in key regions decreased by 200 VND/kg in Dak Nong, recording the highest price of 141,000 VND, the lowest of 140,000 VND/kg.

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 6,683 USD/ton, unchanged from yesterday, and the price of Muntok white pepper at 9,150 USD/ton, stable from 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.

The International Pepper Community (IPC) assessed that the pepper market in early November had many mixed reactions. After being reported with a downward trend for 1 month, domestic and international Indian pepper prices tended to increase this week as India celebrated Diwali. When the Indonesian Rupiah weakened, the price of pepper in this country decreased.

Speaking to the press recently, Mr. Hoang Phuoc Binh - Permanent Vice President of the Chu Se Pepper Association (Gia Lai province), said that the increasing trend of world pepper prices has created opportunities for many agents and small businesses to stockpile goods waiting for prices. This action pushes prices higher than the actual supply and demand of the market, causing pepper prices to fluctuate strongly.

Vietnam's traditional markets such as the US, Europe, Asia, etc. imported large quantities of pepper from April to September, leading to many customers not rushing to increase their purchases, but choosing to wait for market signals to avoid risks.

In addition, the domestic market has reduced consumption, and the very large market, China, this year reduced the amount of pepper purchased from Vietnam by more than 80% compared to 2023, which also contributed to the price of the commodity not increasing as strongly as forecast.

Domestic pepper price on November 3, 2024