The market is still volatile, pepper exports earn nearly 1 billion USD

Pepper price today, October 9, 2024, in key areas decreased by 500 - 1,000 VND/kg compared to yesterday and traded around 146,000 - 146,500 VND/kg, the highest purchase price in Dak Lak province was 146,500 VND/kg.

Accordingly, the price of Dak Lak pepper was purchased at 146,500 VND/kg, down 500 VND/kg compared to yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 146,000 VND/kg, unchanged from yesterday. The price of Dak Nong pepper today was recorded at 146,000 VND/kg, also down 1,000 VND/kg compared to yesterday.

In the Southeast region, pepper prices today (October 9, 2024) mainly fluctuated compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 146,000 VND/kg, down 500 VND/kg compared to yesterday. In Binh Phuoc, pepper prices today are at 146,000 VND/kg, down 1,000 VND/kg compared to yesterday.

Thus, pepper price today October 9, 2024 decreased from 500 - 1,000 VND/kg to around 146,000 - 146,500 VND/kg. The highest price recorded was 146,500 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 6,706 USD/ton, up 0.06%, and the price of Muntok white pepper at 8,966 USD/ton, up 0.06%.

The price of Brazilian ASTA 570 black pepper was at 6,750 USD/ton, down 1.48%. The price of Malaysian ASTA black pepper was at 8,800 USD/ton; the price of this country's ASTA white pepper reached 11,200 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...

According to the report of the Vietnam Pepper and Spice Association, in September, Vietnam exported 17,138 tons of pepper of all kinds, of which black pepper reached 15,232 tons and white pepper reached 1,906 tons. Total export turnover reached 109.8 million USD, of which black pepper reached 94.8 million USD, white pepper reached 15.0 million USD, compared to August, the export volume decreased by 10.9%, the turnover decreased by 11.7% and compared to September 2023, the export volume increased by 3.1%.

Pepper price today October 9, 2024: The market is still volatile, pepper exports earn nearly 1 billion USD

The average export price of black pepper in September reached 6,329 USD/ton, white pepper reached 7,838 USD/ton, up 7.4% for black pepper and 5.1% for white pepper compared to August.

The top exporters in September included: Olam Vietnam with 2,380 tons; Phuc Sinh with 1,991 tons; Haprosimex JSC with 1,245 tons; Tran Chau with 1,208 tons and Nedspice Vietnam with 1,183 tons.

Meanwhile, the United States continues to be Vietnam's leading pepper export market with 5,466 tons, down 35.5% compared to the previous month. Next are the markets: UAE with 1,415 tons; Hong Kong (China) with 1,196 tons; Germany with 756 tons and the Netherlands with 562 tons.

In total, in the first 9 months of the year, Vietnam exported 200,894 tons of pepper of all kinds, of which black pepper reached 177,953 tons and white pepper reached 22,941 tons. Total export turnover reached 991 million USD, of which black pepper reached 781.9 million USD and white pepper reached 142.1 million USD.

The increase in pepper prices is a common picture of the global pepper market due to reduced supply due to unusual weather and the possible involvement of speculators in pushing prices up, according to some experts and businesses.

Exporters are unable to buy much pepper domestically, so they have to import more from Brazil and Indonesia. Vietnam’s pepper output in the 2025 crop is expected to decrease, not to mention the prolonged drought that makes pepper supply increasingly difficult.

In the long term, Vietnam’s pepper output is expected to decline in the 2025 crop season due to the impact of drought. Experts predict that domestic pepper prices may increase again, especially as demand for shopping for the upcoming Lunar New Year approaches.

Many agricultural companies, agents and intermediaries in Vietnam are actively selling black pepper, driven largely by liquidity needs as sellers seek to raise capital to invest in coffee, which is in its harvest season, said Brazspice Spices International CEO.

Domestic pepper price on October 9, 2024