Vietnam is the largest source of pepper to the US.

Pepper price today, September 28, 2024, in key areas decreased by 1,000 - 3,000 VND/kg compared to yesterday and traded around 146,000 - 148,000 VND/kg, the highest purchase price in Binh Phuoc province is 148,000 VND/kg.

Accordingly, Dak Lak pepper price is purchased at 147,000 VND/kg, down 2,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is purchased at 147,000 VND/kg, down 1,000 VND/kg compared to yesterday. Dak Nong pepper price today is at 146,000 VND/kg, down 3,000 VND/kg compared to yesterday.

Pepper price today September 28, 2024: Vietnam is the largest source of pepper to the US

In the Southeast region, pepper prices today decreased by 1,000 VND/kg compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 148,000 VND/kg, unchanged from yesterday. In Ba Ria - Vung Tau, it is at 147,000 VND/kg, down 1,000 VND/kg compared to yesterday.

Thus, domestic pepper prices today decreased by 1,000 VND/kg in key localities. The highest pepper price was recorded at 149,000 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 6,942 USD/ton, up 0.22%, and the price of Muntok white pepper at 9,430 USD/ton, up 0.22%.

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

According to data from the US International Trade Commission (USITC), US pepper imports in July reached 10,259 tons, up 25.5% compared to the previous month and up 54.1% compared to the same period last year.

In the first 7 months of the year, this figure reached 55,922 tons with a value of 267.2 million USD, an increase of 38.7% in volume and 43.9% in value over the same period.

Of which, Vietnam supplied up to 78% of the total volume of pepper imported into the US in the first 7 months of the year, with a volume of 43,447 tons, worth 204.2 million USD, up 37% in volume and 46.2% in value over the same period last year.

Next is India with 4,441 tons, up 30.7% and accounting for 8% of the market share; Indonesia with 4,251 tons, up 110.3% and accounting for 8% of the market share; Brazil with 1,969 tons, up 49.2% and accounting for 3%...

Vietnam's pepper export price to the US averaged $4,701/ton in the first seven months of the year, up 6.7% over the same period last year. Similarly, India's pepper price also increased slightly by 2%, reaching an average of $5,032/ton. In contrast, Indonesia's pepper price decreased by 19.2%, Brazil's decreased by 8%, reaching $5,000/ton and $4,070/ton, respectively.

On September 18, the US Federal Reserve (Fed) decided to loosen monetary policy after 4 years. Accordingly, the US reference interest rate decreased by 50 basis points (0.5%), to 4.75-5%.

This move by the Fed is expected to have a positive impact on the global pepper market because the US is currently the world's largest pepper consumer and importer.

When interest rates are low, borrowing costs are cheaper, allowing businesses to expand investment and production. Similarly, consumers spend more because saving is less attractive.

Domestic pepper price on September 28, 2024