Pepper price today October 16, 2024: Same price 144,000 VND/kg in many provinces and cities

Domestic pepper price on October 16, 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 143,500 VND/kg, slightly increased by 500 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 144,000 VND/kg.

In the Southeast region, pepper prices today increased slightly by 500 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 144,000 VND/kg, an increase of 500 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 144,000 VND/kg.

Pepper harvest in Vietnam is expected to start in February 2025, possibly extending to March and April. Due to drought, pepper supply has decreased, causing the harvest to be 1-2 months later than usual.

Pepper prices are currently high, with export prices expected to continue to be supported, so farmers want to replant pepper. Farmers in areas with old pepper gardens are investing in new planting and expanding the area.

Binh Dinh has less pepper growing area than other provinces, mainly in Hoai An district with 300 hectares, 260 hectares are harvested. The estimated yield is 7 tons/ha, slightly reduced due to lack of investment but still positive. With the increase in pepper prices, Hoai An farmers plan to expand the pepper growing area in the next crop season.

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 6,744 USD/ton, and the price of Muntok white pepper at 9,233 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 8,700/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 for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price at 9,850 USD/ton.

In September, Brazil exported 3,667 tons of pepper, earning 22.1 million USD. Compared to August, the export volume decreased slightly by 0.5% but the value increased by 17.8%. Compared to September last year, there was a decrease of 28.6% in volume but an increase of 13.5% in value.

In the first nine months of the year, the total pepper export volume was 49,366 tons, worth 206.4 million USD. Compared to the same period last year, the export volume decreased by 15.3% but the value increased by 15.8%. The average export price of Brazilian pepper in the first nine months of the year was 4,182 USD/ton, up 36.7% over the same period.

Vietnam, UAE, Pakistan, and India are the main export markets for Brazilian pepper. Exports to Vietnam alone reached 6,925 tons, down 41.9% year-on-year and accounting for 14% of the market share. The average price of pepper imported from Brazil to Vietnam was 3,675 USD/ton, up 22.1% year-on-year and the lowest among the top 20 pepper import markets.