Slight increase thanks to positive market outlook

Pepper price today, October 22, 2024, in the Southeast region increased slightly by 500-1,000 VND/kg compared to yesterday, trading around 144,000 -145,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 145,000 VND/kg.

Accordingly, Dak Lak pepper price was purchased at 145,000 VND/kg, an increase of 500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 144,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 145,000 VND/kg, an increase of 500 VND/kg compared to yesterday.

Pepper price today October 22, 2024: Slight increase again thanks to positive market outlook

In the Southeast region, pepper prices today increased slightly compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 144,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is currently at 144,000 VND/kg, an increase of 500 VND/kg compared to yesterday;

Thus, after a day of stagnation, pepper prices today in key areas increased slightly compared to yesterday, recording the highest price at 145,000 VND, fluctuating in the price range of 144,000 - 145,000 VND/kg. The highest pepper price was recorded at 145,000 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 6,795 USD/ton, up 0.01% compared to yesterday, the price of Muntok white pepper at 9,302 USD/ton.

Brazilian ASTA 570 black pepper prices increased to USD 6,400/ton. Malaysian ASTA black pepper prices remained stable at USD 8,700/ton; the country’s ASTA white pepper prices reached USD 11,200/ton.

Vietnam black pepper price is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price at 9,500 USD/ton.

The rebound in pepper prices is a positive sign for the Vietnamese pepper industry, after a long period of fluctuations. With prices higher than in previous years and bright export prospects, many farmers have begun to plant new pepper and expand their pepper growing areas, especially in provinces with a tradition of growing this crop.

According to the Vietnam Pepper and Spice Association (VPSA), in the first 15 days of October, Vietnam exported 9,039 tons of pepper, with a total export turnover of 58.3 million USD. The United States remained the main export market, accounting for 31.7%, reaching 2,865 tons, while Olam was the largest exporter, reaching 1,424 tons, accounting for 15.8%. Next were Nedspice Vietnam with 945 tons, Phuc Sinh with 793 tons, Tran Chau with 761 tons, and Lien Thanh with 578 tons.

Thus, Vietnam's pepper exports from the beginning of the year to mid-October reached 209,933 tons, with a turnover of 1.05 billion USD, down 1.9% in volume but up 47% in turnover compared to the same period last year.

With the recovery in prices, after only 9.5 months of this year, pepper exports have surpassed the 1 billion USD mark and there is still room to further increase export turnover in the last two months of the year.

The US remained the main export market in the first half of October, accounting for 31.7% of the market share with a volume of 2,865 tonnes.

Compared to the same period in 2023, the export volume decreased by 1.7%; however, the export turnover increased by 46.1%. The average export price of black pepper in the first 9 months reached 4,852 USD/ton, white pepper reached 6,461 USD/ton, up 40.9% for black pepper and 30.4% for white pepper compared to the same period last year.

Domestic pepper price on October 22, 2024