Pepper price today, October 5, 2024, in the Southeast and Central Highlands regions, is trading around 146,000 - 147,000 VND/kg. On average, in key pepper growing areas, it decreased by 1,000 VND/kg.
Accordingly, Dak Lak pepper price was purchased at 147,000 VND/kg, down 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 146,000 VND/kg, down 1,000 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 147,000 VND/kg, also down 1,000 VND/kg.
In the Southeast region, today's pepper price (October 5, 2024) also fluctuated compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently down to 147,000 VND/kg, down 1,000 VND/kg. In Binh Phuoc, today's pepper price is at 147,000 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 147,000 VND/kg.
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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 6,782 USD/ton, and the price of Muntok white pepper at 9,068 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...
Vietnam’s pepper prices have increased sharply this year, from VND87,000/kg to VND150,000/kg, bringing high profits to farmers. This price increase has also contributed to an increase in Vietnam’s export value compared to last year. However, export enterprises are having difficulty purchasing enough goods due to scarce supply.
The domestic market is currently quiet, with prices fluctuating slightly due to limited inventory. It is forecasted that the Vietnamese pepper industry will continue to benefit from high export prices in the coming time, as supply will continue to be scarce. The current amount of pepper is mainly in the warehouses of agents and businesses.
Inventory from 2023, together with imports in 2024, is estimated at around 40,000 - 45,000 tons. It is forecasted that exports by the end of the year will be lower than in previous years and this situation will last until March 2025, when the new crop season begins.
The price of Vietnamese pepper in the international market is currently stable, without much fluctuation. In contrast, the price of pepper from Indonesia and Brazil is fluctuating unstably.
Indonesia, Vietnam’s competitor, is experiencing a large supply from its new crop, leading to a drop in pepper prices on the international market. Brazil and Indonesia are in the harvest season, but global demand is not increasing, combined with China’s reduction in pepper imports, creating a downward trend in prices.
Indonesia's pepper exports rose 67% year-on-year, with output expected to reach 85,000 tonnes in 2024, up 5% year-on-year. Farmers in Lampung Province, Indonesia, have almost completed harvesting. Stockpiles from major investors have dwindled, but demand from China and Europe is expected to increase later in the year, which could boost global pepper prices in the short term.
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*Information is for reference only, prices may vary depending on region and locality.
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