Sudden decline in key localities

Pepper price today, October 4, 2024, in the Southeast and Central Highlands regions, is traded around 147,000 - 148,000 VND/kg, the highest purchase price in Dak Lak and Binh Phuoc provinces is 148,000 VND/kg.

Accordingly, Dak Lak pepper price was purchased at 148,000 VND/kg, down 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 147,000 VND/kg, down 500 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 148,000 VND/kg, also down 500 VND/kg.

In the Southeast region, pepper prices today (October 4, 2024) mainly fluctuated compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is still stable at 148,000 VND/kg. In Binh Phuoc, pepper prices today are at 148,000 VND/kg, down 1,000 VND/kg compared to yesterday.

Thus, domestic pepper prices decreased today in key localities. The highest pepper price today was recorded at 148,000 VND/kg.

Pepper price today October 4, 2024: Sudden decrease in key localities.

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 6,826 USD/ton, and the price of Muntok white pepper at 9,128 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...

With the current market situation, many opinions on forums of Vietnamese pepper growers say that agricultural agents are showing signs of dumping speculative goods to get capital to switch to coffee trading because the new harvest has begun.

In addition, China's current economic growth is lower than expected, people's spending needs are tightened and inventory is still sufficient, which are some of the factors that make China continue to limit pepper purchases from Vietnam. In addition, pepper prices in the Chinese domestic market are lower than those in Vietnam, which could also be the reason for the above-mentioned decline.

However, price expectations will remain volatile in the coming period.

Specifically, according to preliminary data from the General Department of Customs, in September 2024, Vietnam exported 20,000 tons of pepper, earning 125 million USD, up 10.4% in volume but the value skyrocketed 84.9% over the same period last year. Accumulated to the end of September, pepper exports reached 203,000 tons, earning more than 1 billion USD, down 1.5% in volume but up 46.9% in value. The reason is that the export price of pepper increased sharply by 49.2% over the same period last year, to 4,941 USD/ton.

Notably, last September, the average export price of "black gold" reached 6,239 USD/ton, an increase of 67.5% compared to the same period last year and this was also the month with the highest export price in many years.