Pepper price today October 12, 2024: Sharp decrease both domestically and for export
Pepper price today October 12, 2024 is in the range of 143,000 - 145,500 VND/kg, today's pepper price has decreased sharply by 1,000 to 3,000 VND/kg compared to yesterday. Pepper export price lost 300 USD/ton
Domestic pepper price on October 12, 2024
Specifically, Dak Lak pepper price was purchased at 144,000 VND/kg, down 3,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 143,000 VND/kg, down 3,000 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 144,000 VND/kg.
In the Southeast region, pepper prices today decreased by 1,000 to 2,000 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 145,500 VND/kg, down 1,000 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 143,000 VND/kg.
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 144,000 | -3,000 |
| Gia Lai | 143,000 | -3,000 |
| Dak Nong | 144,000 | -3,000 |
| Ba Ria - Vung Tau | 145,500 | -1,000 |
| Binh Phuoc | 143,000 | -2,000 |
| Dong Nai | 145,500 | -1,000 |
Although pepper prices have decreased, they are still double the price of VND67,000/kg in the same period last year. According to experts, pepper export prices will continue to be maintained at high levels due to the expected decrease in Vietnam's output in 2025.
The 2025 pepper crop in Vietnam is expected to be harvested mainly in February, and may last until March and April, 1-2 months later than usual due to drought.
Pepper production in three Central Highlands provinces is facing difficulties due to competition from durian and coffee, according to a report from VPSA.
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 6,711 USD/ton (down 0.33%), and the price of Muntok white pepper at 8,974 USD/ton (down 0.32%).
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.
Today, Vietnam's black pepper price lost up to 300 USD/ton, trading at 6,500 USD/ton (down 4.41%) for 500 g/l; 550 g/l at 6,800 USD/ton (down 4.22%); white pepper price at 9,850 USD/ton (down 2.95%).
Vietnam’s pepper export prices have fallen sharply after several weeks of stability, reflecting the difficulties of the world pepper market. In India, the harvest season in the South has ended, leading to increased inventories and falling pepper prices. Pepper output is expected to increase by 6% to around 60,000 tonnes in 2023-24, which could put downward pressure on prices in the market.
Due to the unstable global economic situation, with high inflation and rising interest rates, along with geopolitical conflicts, the risk of a global recession is a concern. Pepper imports have decreased as importers have acted cautiously, reducing purchases to avoid risks, reducing demand and pepper prices.
Vietnam’s traditional markets have imported large amounts of pepper in the past nine months and have not purchased more, waiting for market developments. Stockpiles of major investors have decreased, but demand is expected to increase from China and Europe at the end of the year, which could push global pepper prices up in the short term.
