Pepper prices today, October 1, 2024: Pepper exports reach over 1 billion USD.
Today, October 1st, 2024, pepper prices range from 147,500 to 148,000 VND/kg, a slight decrease of 500 to 1,000 VND/kg compared to yesterday. In the first nine months of the year, pepper exports reached over 1 billion USD.
Domestic pepper prices on October 1, 2024
Specifically, the price of pepper in Dak Lak is being purchased at 148,000 VND/kg, stable compared to yesterday. The price of pepper in Chu Se (Gia Lai) is being purchased at 147,500 VND/kg, a slight decrease of 500 VND/kg compared to yesterday. The price of pepper in Dak Nong today is recorded at 147,500 VND/kg.
In the Southeast region, pepper prices today decreased slightly by 1,000 VND/kg in Binh Phuoc compared to yesterday. Specifically, in Ba Ria - Vung Tau, the price is currently at 148,000 VND/kg, stable compared to yesterday; in Binh Phuoc, the price of pepper today is also at 148,000 VND/kg.
| Province/District (Survey Area) | Purchase price (Unit: VND/kg) | Change compared to yesterday (Unit: VND/kg) |
| Dak Lak | 148,000 | But |
| Gia Lai | 148,000 | -500 |
| Boeing Nong | 147,500 | But |
| Ba Ria - Vung Tau | 148,000 | But |
| Binh Phuoc | 149,000 | -1,000 |
| Dong Nai | 148,000 | But |
Over the past week, domestic pepper prices have fallen continuously for four days, only recovering slightly at the end of the week, resulting in a total decrease of 1,000 to 3,000 VND/kg. This is the second consecutive week that pepper prices have fallen, with a total decrease of 6,000 - 9,000 VND/kg over the two weeks.
Several factors are contributing to the decline in pepper prices, including the shift of investment capital towards gold and coffee. In particular, ahead of the coffee harvest in Vietnam in Q4 2024, many traders have sold off their pepper stocks to prepare capital for the upcoming coffee season. Domestic pepper trading is currently quiet due to scarce supply. Furthermore, pepper from Indonesia's new crop is also putting downward pressure on the market, with estimated production potentially reaching 85,000 tons in 2024, a 5% increase compared to last year.
Nevertheless, experts remain optimistic, predicting that domestic pepper prices are likely to rebound, surpassing 160,000 VND/kg before the pepper harvest season in Vietnam. Regarding the market outlook this week, experts believe that pepper prices are likely to recover slightly, as gold prices may fall after their recent surge. Orders for the fourth quarter will also contribute to a rebound in domestic pepper prices.
Today's world pepper prices
According to the International Pepper Association (IPC), at the close of the most recent trading session, the IPC listed Indonesian Lampung black pepper at US$6,942/ton and Muntok white pepper at US$9,430/ton.
Brazilian ASTA 570 black pepper is priced at US$6,750/ton. Malaysian ASTA black pepper remains stable at US$8,800/ton; Malaysian ASTA white pepper is priced at US$11,200/ton.
Vietnamese black pepper prices remained stable at high levels today, trading at US$6,800/ton for the 500 g/l variety; US$7,100/ton for the 550 g/l variety; and white pepper at US$10,150/ton.
In the first nine months of the year, Vietnam earned over $1 billion from pepper exports. In September alone, export revenue reached $125 million. The average export price per ton of pepper was $6,239, the highest price in the past eight years.
Compared to the previous year, pepper exports increased by 10.4% in volume and 84.9% in value. By the end of September, Vietnam had exported 203,000 tons of pepper. Although the export volume decreased slightly by 1.5% compared to last year, the value increased by 46.9%.
Pepper, known as "black gold," plays a crucial role in Vietnam's agricultural exports. Last year, Vietnam exported pepper worth $912 million, maintaining its position as the world's leading pepper exporter, accounting for 60% of the global market share.
