Pepper price today October 15, 2024: Slight decrease of 500 VND/kg in the Southeast
Pepper price today October 15, 2024 is around 143,000 - 144,000 VND/kg, today's pepper price slightly decreased by 500 VND/kg in some localities compared to yesterday.
Domestic pepper price on October 15, 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 decreased slightly by 500 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 143,500 VND/kg, down 500 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 143,500 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 | 143,500 | -500 |
| Binh Phuoc | 143,500 | -500 |
| Dong Nai | 143,500 | -500 |
Pepper prices may fall in the short term due to the influence of many factors. The strengthening of the US dollar reduces the prices of export goods, including pepper. When the US dollar appreciates, import costs increase, leading to a decrease in demand from exporting countries like Vietnam.
Money is shifting from pepper to coffee, especially as the coffee harvest season in Vietnam begins, which could reduce capital for pepper. Demand from major import markets, such as China, has not yet increased, causing purchasing power to weaken.
These factors, combined with the global economic situation, could cause pepper prices to continue to fall. However, in the long term, pepper prices could be supported by the expected reduction in pepper output in 2025 due to weather, reducing supply.
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 6,744 USD/ton (up 0.17%), and the price of Muntok white pepper at 9,233 USD/ton (up 2.56%).
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; the price of this country's ASTA white pepper reached USD 11,200/ton.
Today, the price of Vietnamese black pepper 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.
In August, China imported 890 tons of pepper, down 54.7% in volume and 36.8% in value compared to the previous month, but up 23.7% in volume and 80.9% in value compared to the previous year.
As of the first 8 months of the year, China imported 7,484 tons of pepper, up 21.9% in volume and 41% in value compared to 2023. Indonesia and Vietnam are the two main pepper suppliers to China, accounting for 90% of the import market share.
However, data from the Vietnam Pepper Association shows that pepper exports to China decreased by 84.1% in the first 9 months of the year. The import price of pepper to China in the first 8 months of the year was 4,825 USD/ton, up 15.7% over the previous year. Pepper prices from Indonesia are more competitive, which may be the reason for the increase in exports to China in recent times.
