Slight decrease of 500 VND/kg, Dak Nong and Dak Lak dropped to 143,000 VND/kg

Pepper price today, October 29, 2024, in the Southeast region decreased by 500 VND/kg compared to yesterday, trading around 142,000 - 143,000 VND/kg, the highest purchase price in Dak Nong, Dak Lak, Ba Ria - Vung Tau provinces is 143,000 VND/kg.

Accordingly, Dak Lak pepper price was purchased at 143,000 VND/kg, down 500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 142,000 VND/kg, stable compared to yesterday. Dak Nong pepper price today was recorded at 143,000 VND/kg, down 500 VND/kg compared to yesterday.

In the Southeast region, pepper prices today have not changed compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 142,000 VND/kg, unchanged from yesterday. In Ba Ria - Vung Tau, it is currently at 143,000 VND/kg, unchanged from yesterday.

Pepper price today October 29, 2024: Slight decrease of 500 VND/kg, Dak Nong, Dak Lak dropped to 143,000 VND/kg

Thus, domestic pepper prices today in key regions continued to decrease in some localities compared to yesterday, recording the highest price at 143,000 VND, fluctuating in the price range of 142,000 - 143,000 VND/kg.

World pepper price today

Update on world pepper prices from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,681 USD/ton, down 0.64% compared to yesterday, the price of Muntok white pepper at 9,146 USD/ton, down 0.65% compared to 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 which, the price of Vietnamese black pepper is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; the price of white pepper is at 9,500 USD/ton.

Ms. Hoang Thi Lien, President of the Vietnam Pepper and Spice Association (VPSA), said that 2024 is a breakthrough year for spice exports, especially to countries in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This success is thanks to incentives from the FTA, which helps promote the export of cinnamon, star anise, pepper and many other spices, with strong growth in the first 8 months of 2024.

Pepper enterprises have taken advantage of the FTA to export to the CPTPP market, in which Australia, Japan and New Zealand are the main consumption markets. Vietnam has a great advantage in production, and is currently exporting directly to Japan, while attracting investment from Japanese enterprises in the spice industry in Vietnam. Particularly in the Australian and New Zealand markets, Vietnam is holding an absolute advantage in supplying pepper.

The current ratio of raw and processed pepper exports is 80-20, and VPSA is encouraging businesses to invest in deep processing. However, deep-processed products need to ensure a stable consumption market due to their high specificity. For developed markets such as the EU, Australia, Japan, New Zealand, and the United States, when Vietnamese pepper is accepted in these markets, it simultaneously enhances its position in the high-end market segment.

Domestic pepper price on October 29, 2024