Pepper price today October 17, 2024: Slight increase of 1,000 VND/kg in the Central Highlands
Pepper price today October 17, 2024 is in the range of 144,000 - 145,000 VND/kg, today's pepper price continues to increase slightly from 500 to 1,000 VND/kg in some localities compared to yesterday.
Domestic pepper price on October 17, 2024
Specifically, Dak Lak pepper price was purchased at 145,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 144,000 VND/kg, a slight increase of 500 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 145,000 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 | 145,000 | +1,000 |
| Gia Lai | 144,000 | +500 |
| Dak Nong | 145,000 | +1,000 |
| Ba Ria - Vung Tau | 144,000 | - |
| Binh Phuoc | 144,000 | - |
| Dong Nai | 144,000 | - |
The domestic pepper market has been unstable recently, with prices falling continuously. However, pepper prices have started to rise again in some pepper growing areas. This increase may be due to the low amount of pepper left in the hands of farmers, causing trading activities to become sluggish.
Currently, pepper is mainly kept in warehouses of agents and enterprises. The inventory from 2023 and imports in 2024 is estimated at about 40,000 to 45,000 tons, including unofficial imports, indicating that the amount of pepper exported until the end of this year will be less than in previous years.
Due to competition from new supply from Indonesia, the domestic pepper market is expected to be sluggish in the near future, especially when China is increasing imports from Indonesia. Pepper prices are expected to fluctuate around VND145,000/kg and may increase to over VND160,000/kg in the long term.
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 6,756 USD/ton (up 0.17%), and the price of Muntok white pepper at 9,249 USD/ton (up 0.17%).
The price of Brazilian ASTA 570 black pepper was at USD 6,400/ton (down 5.14%). 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 9,500 USD/ton (down 3.55%).
According to data from the US International Trade Commission (USITC), the US imported 7,372 tons of pepper in August, down 28% from the previous month but up 25% from August last year. The total amount of pepper imported by the US in the first 8 months of the year was 63,294 tons, worth 306.9 million USD, up 37% in volume and 44.8% in value compared to the same period last year.
Vietnam is the main supplier of pepper to the US, accounting for 78% of total US imports, with 49,277 tons, worth 235.2 million USD, up 35.4% in volume and 46.8% in value compared to the previous year. The US is the largest customer of Vietnamese pepper.
The average import price of pepper in the US was 4,849 USD/ton, up 5.7% over the previous year. The import price of pepper from Vietnam increased to 4,774 USD/ton, up 8.4%; from India to 5,043 USD/ton, up 3.4%; while the price from Indonesia and Brazil decreased by 17% and 6%, to 5,117 USD/ton and 4,175 USD/ton, respectively.
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