Pepper price today October 13, 2024: Stable price, temporarily stopping the downward trend
Pepper price today October 13, 2024 is around 143,000 - 144,000 VND/kg, pepper price today is stable at the end of the week compared to yesterday. Temporarily stopping the downward trend of the past week.
Domestic pepper price on October 13, 2024
Specifically, Dak Lak pepper price was purchased at 144,000 VND/kg, stable compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 143,000 VND/kg, stable compared to yesterday. Dak Nong pepper price today was recorded at 144,000 VND/kg.
In the Southeast region, pepper prices today are stable compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 144,000 VND/kg, stable compared to yesterday; in Binh Phuoc, pepper prices today are at 144,000 VND/kg.
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 144,000 | - |
| Gia Lai | 143,000 | - |
| Dak Nong | 144,000 | - |
| Ba Ria - Vung Tau | 144,000 | - |
| Binh Phuoc | 144,000 | - |
| Dong Nai | 144,000 | - |
Recently, pepper prices in Vietnam and around the world have fluctuated, mainly decreasing. The reason is due to many factors affecting both domestic and foreign markets. Indonesia and India forecast that pepper output in 2024 will increase by 5-6%, increasing supply and putting downward pressure on prices.
In India, increased pepper imports and large inventories caused black pepper prices to fall in the last three weeks of August 2024. Quality issues with imported pepper in India forced redistribution at low prices, causing prices to fall. Pepper consumption in India did not increase during the festive season, causing the market to stagnate.
In Vietnam, pepper prices have fallen due to lower demand and competition from substitute products. Consumers have many other options besides pepper, reducing demand. Traditional markets in Vietnam have imported a lot of pepper and are not buying more, waiting for the market to adjust.
World pepper prices 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 6,711 USD/ton (up 0.31%), and the price of Muntok white pepper at 9,002 USD/ton (up 0.31%).
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 8,700/ton (down 1.13%); 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 for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price at 9,850 USD/ton.
The world pepper market is growing strongly, especially in the US and Europe. With demand greater than supply, world pepper prices are expected to continue to increase.
In 2024, the pepper industry is forecast to achieve a record revenue of 1.3 billion USD thanks to favorable export prices. Domestic pepper prices have decreased but export prices remain high due to strong international demand.
Stable pepper export prices are a good sign for the domestic market. However, world pepper prices can change abruptly due to factors such as trade policy, weather, and consumer demand.
