Pepper price today October 1, 2024: Pepper exports reach over 1 billion USD
Pepper price today, October 1, 2024, is around 147,500 - 148,000 VND/kg, pepper price is slightly adjusted down 500 to 1,000 VND/kg compared to yesterday. In the first 9 months of the year, pepper export reached more than 1 billion USD.
Domestic pepper price on October 1, 2024
Specifically, Dak Lak pepper price was purchased at 148,000 VND/kg, stable compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 147,500 VND/kg, slightly down 500 VND/kg compared to yesterday. Dak Nong pepper price today was 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, it is currently at 148,000 VND/kg, stable compared to yesterday; in Binh Phuoc, pepper prices today are at 148,000 VND/kg.
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 148,000 | - |
| Gia Lai | 148,000 | -500 |
| Dak Nong | 147,500 | - |
| Ba Ria - Vung Tau | 148,000 | - |
| Binh Phuoc | 149,000 | -1,000 |
| Dong Nai | 148,000 | - |
Last week, domestic pepper prices fell continuously for four days and only recovered slightly at the end of the week, resulting in a total decrease of VND1,000 to VND3,000/kg. This is the second consecutive week that pepper prices have decreased, with a total decrease of VND6,000 to VND9,000/kg in two weeks.
Several factors are driving down pepper prices, including the shift of investment capital to gold and coffee. In particular, before the coffee harvest season in Vietnam in the fourth quarter of 2024, many traders have sold pepper to prepare capital for the upcoming coffee season. Domestic pepper trading activities are currently quiet due to scarce supply. In addition, pepper from Indonesia's new crop is also putting downward pressure on the market, with estimated output reaching 85,000 tons in 2024, up 5% compared to last year.
However, experts remain optimistic, predicting that domestic pepper prices are likely to rebound, surpassing VND160,000/kg before the pepper harvest season in Vietnam. Regarding the market outlook this week, experts say that pepper prices are likely to recover slightly, as gold prices may decline after rising sharply. Orders for the fourth quarter will also contribute to boosting domestic pepper prices.
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 6,942 USD/ton, and the price of Muntok white pepper at 9,430 USD/ton.
The price of Brazilian ASTA 570 black pepper was at USD 6,750/ton. The price of Malaysian ASTA black pepper remained stable at USD 8,800/ton; the price of this country's ASTA white pepper reached USD 11,200/ton.
Vietnamese black pepper prices today are stable at a high level, trading at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; white pepper prices at 10,150 USD/ton.
In the first nine months of the year, Vietnam earned more than $1 billion from pepper exports. In September alone, pepper export revenue reached $125 million. The average export price per ton of pepper was $6,239, the highest 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 is known as “black gold” and plays an important role in Vietnam’s agricultural exports. Last year, Vietnam exported pepper worth 912 million USD. Maintaining its position as the world’s leading pepper exporter, accounting for 60% of the global market share.
