Continue to suffer unexpected downward pressure?

Pepper price today, October 2, 2024, in key areas is stable compared to yesterday and traded around 147,000 - 149,000 VND/kg, the highest purchase price in Dak Lak and Binh Phuoc provinces is 149,000 VND/kg.

Specifically, the pepper price in Dak Lak is purchased at 149,000 VND/kg, an increase of 500 VND/kg compared to yesterday. The pepper price in Gia Lai is purchased at 147,000 VND/kg, a decrease of 1,000 VND/kg compared to yesterday. The pepper price in Dak Nong today is at 148,000 VND/kg, a decrease of 1,000 VND/kg compared to yesterday (October 1).

In the Southeast region, pepper prices today have some fluctuations. Accordingly, in Binh Phuoc, pepper prices today are at 149,000 VND/kg. In Ba Ria - Vung Tau, it is at 148,000 VND/kg, maintaining the same trend compared to yesterday.

Thus, domestic pepper prices today are stable in key localities. The highest pepper price was recorded at 149,000 VND/kg.

Giá tiêu hôm nay 2/10/2024: Tiếp tục chịu áp lực giảm bất ngờ?

Pepper price today October 2, 2024: Continue to face unexpected downward pressure?

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 6,939 USD/ton, and the price of Muntok white pepper at 9,278 USD/ton.

The price of Brazilian ASTA 570 black pepper remained at $6,750/ton. The price of Malaysian ASTA black pepper was at $8,900/ton; the price of this country's ASTA white pepper reached $11,400/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; white pepper price at 10,150 USD/ton...

Pepper, dubbed “black gold” because of its high economic value, is witnessing a strong boom in Vietnam’s exports. According to preliminary data from the General Department of Customs, in September, Vietnam exported 20,000 tons of pepper, earning 125 million USD. This figure is much more impressive than the same period last year, with a growth of 10.4% in volume and 84.9% in value. Notably, the average export price reached a record 6,239 USD/ton, up 67.5% over the same period, marking the highest level in 8 years.

The boom in pepper exports is more evident when looking at the results of the first 9 months of the year. Vietnam earned more than 1 billion USD from 203,000 tons of exported pepper. Although the export volume decreased slightly by 1.5% compared to the same period last year, the value increased strongly by 46.9%, affirming the position of pepper in the picture of Vietnam's agricultural exports.

This strong growth is explained by many factors. According to businesses, the main reason is the decrease in supply. Unfavorable weather and the trend of crop conversion have significantly reduced pepper output. In addition, speculative activities have also contributed to pushing prices up.

However, in addition to positive signals, pepper exporting enterprises also face many challenges. Weak purchasing power, while purchasing prices in the domestic market remain high, and the supply of goods is scarce, making it difficult for enterprises to balance their supply and ensure profits.

The Import-Export Department forecasts that global pepper prices will remain high in the short term due to limited supply. In the long term, Vietnam's pepper output is expected to decrease in the 2025 crop due to the impact of drought, which could contribute to maintaining high export prices.

The Vietnam Pepper and Spice Association (VPSA) said that pepper is almost gone from the population, with only stocks remaining in businesses. The leader of the Vietnam Pepper Association said that global pepper production will not be enough to meet consumer demand in the next 3-5 years. Experts predict that pepper has entered a new price increase cycle, lasting 10-15 years, with the possibility of reaching a peak of 350,000 - 400,000 VND/kg.

Pepper, Vietnam’s “black gold”, is witnessing strong fluctuations. Exports are booming, prices are at their peak, but challenges are also present. Managing supply, boosting production and improving pepper quality are urgent tasks to ensure sustainable development for this industry in the future.