Pepper price today December 17, 2024: Stable both domestically and internationally
Pepper price today December 17, 2024: Stable in both domestic and world markets. Average pepper price is at 145,800 VND/kg. Demand for goods from the US market continues to help pepper prices stay stable.
Domestic pepper price on December 17, 2024
In the Central Highlands region, pepper price today in Dak Lak remained unchanged compared to yesterday, reaching 146,000 VND/kg.
Pepper price today in Gia Lai is unchanged compared to yesterday, currently at 145,000 VND/kg.
Pepper price today in Dak Nong remains stable compared to yesterday at 146,200 VND/kg.
In the Southeast region, pepper prices in Ba Ria - Vung Tau today are the same as yesterday, currently at 146,000 VND/kg. Dong Nai is unchanged from yesterday at 146,000 VND/kg.
In addition, pepper price today in Binh Phuoc is stable compared to yesterday, currently at 146,000 VND/kg.
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from previous frequency (Unit: VND/kg) |
|---|---|---|
| Gia Lai | 145,000 | - |
| Ba Ria - Vung Tau | 146,000 | - |
| Dak Lak | 146,000 | - |
| Binh Phuoc | 146,000 | - |
| Dak Nong | 146,200 | - |
Note: The above prices are for reference only, the actual price will vary depending on the locality, shipping method, payment method, transaction volume, etc. Readers please contact the nearest pepper businesses and agents for specific advice.
US pepper imports have rebounded sharply after two consecutive years of decline. The main reason is that inflation has cooled down and monetary policy has been loosened, helping market demand recover significantly. At the same time, concerns about economic policy fluctuations after the US presidential election have caused many importers to rush to buy and stockpile.
The US is currently Vietnam’s most important pepper export market. Increased purchasing power from the US in recent times has helped maintain domestic pepper prices at a high level.
According to experts, the demand for accumulated goods from the US market continues to keep domestic pepper prices stable around 145,000 - 147,000 VND/kg, although investment cash is flowing into the coffee industry. The impact from the adjustment of the USD position at the end of the week may occur, but is considered insignificant.
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 6,787 USD/ton, and the price of Muntok white pepper at 9,068 USD/ton.
The price of Brazilian ASTA 570 black pepper is at USD 6,300/ton. The price of Malaysian ASTA black pepper is at USD 8,200/ton; the price of this country's ASTA white pepper is at USD 10,400/ton.
Vietnamese black pepper prices today remain high, trading at 6,300 USD/ton for 500 g/l; 550 g/l at 6,600 USD/ton; white pepper prices at 9,400 USD/ton.
According to the Vietnam Pepper and Spice Association, in the first 10 months of 2024, Indonesia exported 44,357 tons of pepper, earning 239.7 million USD. Compared to the same period in 2023, the export volume increased by 114.2%, and the turnover increased by 141.3%. October recorded a record of 9,112 tons, thanks to the increased supply of products from the harvest to the market.
Vietnam is the largest market for Indonesian pepper, accounting for 30.2% with 13,409 tons, up 347.3% over the same period. Other major markets include China (15.5%), the US (14.7%), and India (10.6%), all of which recorded strong growth.
Previously, Vietnam often imported pepper from Brazil, but due to high prices and transportation costs, traders have switched to importing from Southeast Asian countries, especially Indonesia.
