Pepper price today 11/1/2024: Sharp decrease of up to 2,500 VND/kg
Pepper price today November 1, 2024 is around 141,000 - 142,500 VND/kg, today's pepper price decreased sharply from 2,000 to 2,500 VND/kg compared to yesterday.
Domestic pepper price on November 1, 2024
Specifically, Dak Lak pepper price was purchased at 142,000 VND/kg, down 2,500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 141,000 VND/kg, down 2,000 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 142,500 VND/kg.
In the Southeast region, pepper prices today decreased by 2,000 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 142,000 VND/kg, down 2,000 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 141,000 VND/kg.
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 142,000 | -2,500 |
| Gia Lai | 141,000 | -2,000 |
| Dak Nong | 142,500 | -2,000 |
| Ba Ria - Vung Tau | 142,000 | -2,000 |
| Binh Phuoc | 141,000 | -2,000 |
| Dong Nai | 142,000 | -2,000 |
The Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA) was officially signed on October 28, opening up great opportunities for the Vietnamese pepper industry to increase exports to the UAE market. This is an important milestone, helping Vietnamese enterprises to fully exploit the potential of this market.
The UAE has a harsh climate with year-round heat and the land is mostly desert, not suitable for agricultural cultivation. Therefore, the UAE has to import a large amount of food and spices from other countries to ensure food security and meet domestic consumption needs, especially of residents and tourists. As a Muslim country, the UAE has a cuisine that uses a lot of spices, of which pepper is one of the main spices.
In this context, consumption demand in the UAE and globally is recovering after the pandemic, and thanks to the support and trade promotion measures of the Vietnamese Government, the UAE will continue to be a potential market for Vietnamese businesses to exploit.
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 6,680 USD/ton (up 0.18%), and the price of Muntok white pepper at 9,144 USD/ton (up 0.17%).
The price of Brazilian ASTA 570 black pepper was at USD 6,400/ton. The price of Malaysian ASTA black pepper remained stable at USD 8,500/ton; the price of this country's ASTA white pepper reached USD 11,000/ton.
Vietnamese black pepper prices today are stable at a high level, trading at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper prices at 9,500 USD/ton.
In the first nine months of this year, according to data from the Chinese Customs Administration, the country imported a total of 8,140 tons of pepper, worth US$40.6 million. This figure increased by 18.2% in volume and 37.9% in value compared to the same period last year, showing a significant increase in demand for this item in the Chinese market.
Indonesia is the leading country in supplying pepper to China, with export volume reaching 4,617 tons, up 43% over the same period last year and accounting for 56.7% of China's total pepper imports. Vietnam ranked second with 2,520 tons, accounting for 31% of the market share and a slight increase of 3.2% over last year.
However, data from the Chinese Customs Administration only records the amount of pepper imported through official channels. According to the Vietnam Pepper and Spice Association, the total amount of pepper exported from Vietnam to China (including both official and unofficial channels) in the first 9 months of the year was 8,905 tons, a sharp decrease of 84.1% compared to the same period last year. This result caused China to drop from the number one position to the fifth position in the list of Vietnam's largest pepper export markets, with its market share falling from 27.2% to only 4.4%.
