Turn around and reduce sharply to 2,500 VND/kg

Pepper price today, November 1, 2024, in the Southeast region decreased sharply by 2,000 - 2,500 VND/kg compared to yesterday, trading around 141,000 - 142,500 VND/kg; the highest purchase price is in Dak Nong province.

Accordingly, Dak Lak pepper price was purchased at 142,000 VND/kg, a sharp decrease of 2,500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 141,000 VND/kg, a decrease of 2,000 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 142,500 VND/kg, a decrease of 2,000 VND/kg compared to yesterday.

In the Southeast region, pepper prices today fluctuated compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 141,000 VND/kg, down 2,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is currently at 142,000 VND/kg, down 2,000 VND/kg compared to yesterday.

Thus, domestic pepper prices today in key regions decreased by 2,000 - 2,500 VND/kg compared to yesterday, recording the highest price of 142,500 VND, the lowest of 141,000 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 6,691 USD/ton, up 0.16% compared to yesterday, the price of Muntok white pepper at 9,160 USD/ton, up 0.17% 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 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.

Experts predict that pepper prices will not fluctuate much. The driving force for the strong increase last season was the lack of demand from China. According to statistics from the International Pepper Community, in recent months, the market of the world's second largest economy has increased imports from other countries.

According to data from the Chinese Customs Administration, in the first 9 months of the year, the country imported 8,140 tons of pepper, equivalent to a value of 40.6 million USD, an increase of 18.2% in volume and 37.9% in value over the same period last year.

Of which, Indonesia ranked first in supplying pepper to China in the first 9 months of the year with a volume of 4,617 tons, a sharp increase of 43% over the same period last year and accounting for 56.7% of the market's import capacity.

Vietnam ranked second with a supply volume of 2,520 tons, up 3.2% and accounting for 31% of the market share.

However, the data from the Chinese Customs Agency mainly covers the amount of pepper imported through official channels. According to data from the Vietnam Pepper and Spice Association, the amount of pepper exported from Vietnam to China in the first 9 months of the year (including official and unofficial channels) reached 8,905 tons, a sharp decrease of 84.1% compared to the same period last year.

Pepper price today November 1, 2024: Sharp decrease of 2,500 VND/kg

With this result, China has fallen from the first position to the fifth position as the largest pepper export market of Vietnam. China's market share in our country's total pepper exports has also decreased from 27.2% to only 4.4%.

Domestically, next year's harvest is forecast by some sources to remain the same or increase slightly, fluctuating between 170,000 - 180,000 tons. Harvest time may come later due to weather.

However, in late October 2024, the press reported on the risk of many flowers falling off, resulting in low fruit set rates and a high risk of crop failure in Ba Ria - Vung Tau.

Many pepper farmers in Chau Duc, Xuyen Moc districts and Phu My town, Ba Ria - Vung Tau province said that this year the rain came late, the hot and dry weather and low humidity were not favorable for pepper to bloom.

It is forecasted that the Vietnamese pepper market will continue to face difficulties due to reduced demand, but the prospect of exporting to other markets, such as the UAE, promises to bring new opportunities in the coming time.

Domestic pepper price on November 1, 2024