The market continues its long-term decline

Pepper price today, October 14, 2024, in key regions remained unchanged at the end of the week compared to yesterday and traded around 143,000 - 145,500 VND/kg, the highest purchase price in Ba Ria - Vung Tau was 145,500 VND/kg.

Accordingly, Dak Lak pepper price was purchased at 144,000 VND/kg, stable compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 143,000 VND/kg, VND/kg price; Dak Nong pepper price today was recorded at 144,000 VND/kg, unchanged compared to yesterday.

In the Southeast region, pepper prices today (October 14, 2024) mainly did not record any fluctuations compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 145,500 VND/kg. In Binh Phuoc, pepper prices today are at 143,000 VND/kg.

Thus, pepper price today October 14, 2024 remains stable, the lowest level in Binh Phuoc and Chu Se provinces (Gia Lai) is 143,000 VND/kg and the highest in Ba Ria - Vung Tau is 145,500 VND/kg.

Giá tiêu hôm nay 14/10/2024: Thị trường tiếp tục đà giảm mạnh

Pepper price today October 14, 2024: The market continues to decline sharply.

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 6,732 USD/ton, up 0.31%, and the price of Muntok white pepper at 9,002 USD/ton, up 0.31%.

The price of Brazilian ASTA 570 black pepper at 6,750 USD/ton remained unchanged compared to yesterday. The price of Malaysian ASTA black pepper at 8,700 USD/ton decreased by 1.15%; the price of this country's ASTA white pepper reached 11,200 USD/ton.

Vietnam's black pepper price is at 6,800 USD/ton for 500 g/l; 550 g/l is at 6,800 USD/ton; white pepper price remains at 9,850 USD/ton...

Vietnam's pepper market is witnessing a price decline due to increased supply from Indonesia and India, forecast to increase by 5-6% in 2024. Pepper exports to China decreased sharply, 84.1% in the first 9 months of 2024, reflecting economic difficulties and reduced consumer demand in this market.

Domestic demand for pepper has also decreased due to competition from substitute products such as chili and black pepper. Traditional import markets have imported large quantities and are waiting to see what happens next, leading to downward pressure on Vietnamese pepper prices.

Despite this, Vietnam’s pepper industry is still forecast to achieve a record revenue of $1.3 billion in 2024 thanks to favorable export prices. However, the global pepper market can change abruptly due to factors such as trade policy, weather and consumer demand.

In the second week of October, the market recorded notable fluctuations. The Vietnam Pepper and Spice Association said that in September, Vietnam exported 17,138 tons of pepper, earning a revenue of 109.8 million USD. However, there was a discrepancy between the export figures of the Association and the General Department of Customs, causing the total export revenue of pepper in the first 9 months to not reach 1 billion USD.

The report also shows that pepper exports are slowing down, investment capital tends to shift to the coffee industry, leading to a decrease in domestic pepper prices. The high USD in the world market also contributes to the decrease in international pepper prices.