Pepper price today September 18, 2024: Unexpected sharp drop in Vung Tau
Pepper price today September 18, 2024 is around 152,000 - 155,000 VND/kg, Vung Tau pepper price suddenly decreased by 3,000 VND/kg compared to yesterday.
Domestic pepper price on September 18, 2024
Specifically, Dak Lak pepper price was purchased at 155,000 VND/kg, stable compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 153,000 VND/kg, slightly down 1,000 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 155,000 VND/kg.
In the Southeast region, pepper prices today have dropped sharply in some localities compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 152,000 VND/kg, down sharply by 3,000 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 152,000 VND/kg.
Domestic pepper price list September 18, 2024
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 155,000 | - |
| Gia Lai | 153,000 | -1,000 |
| Dak Nong | 155,000 | - |
| Ba Ria - Vung Tau | 155,000 | -3,000 |
| Binh Phuoc | 152,000 | - |
| Dong Nai | 155,000 | - |
Pepper exports have already exceeded last year’s output in the first eight months of 2024, even though the harvest season is only four months away. The surge has raised concerns that pepper supplies could be tight later in the year.
The 2025 pepper crop is expected to start harvesting mainly in February, with some areas possibly extending to March and April. This is one to two months later than previous years, due to the impact of the prolonged drought.
This week, experts predict that the market will be influenced by the decision of the US Federal Reserve (FED) to reduce interest rates from 0.25% to 0.5% at the upcoming policy meeting on September 19. The recent weakening of the USD has created favorable conditions for the recovery of commodity markets, including pepper.
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 7,562 USD/ton, and the price of Muntok white pepper at 9,121 USD/ton.
Brazilian ASTA 570 black pepper prices were at $7,000/ton (down 4.1%). Malaysian ASTA black pepper prices remained stable at $8,800/ton; the country’s ASTA white pepper prices reached $10,900/ton.
Vietnamese black pepper prices today are stable at a high level, trading at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; white pepper prices at 10,150 USD/ton.
According to the latest data from the General Department of Customs, the amount of pepper Vietnam exported to Germany in August 2024 was 1,080 tons, worth 6.4 million USD. Although there was a decrease compared to the previous month, it recorded impressive growth compared to the previous year.
Total pepper exports to Germany in the first eight months of 2024 reached 12,133 tons, worth US$63.7 million, showing remarkable growth compared to the same period last year. Germany has become Vietnam's second largest pepper export market, after the United States, with its market share doubling compared to the previous year. Vietnam continues to be the leading pepper supplier to Germany, the largest pepper importer in the European Union.
In the first half of 2024, Germany imported 6,652 tons of pepper from Vietnam, accounting for more than half of the total import volume and a sharp increase compared to 2023. Germany's pepper import price from Vietnam was higher than that from Brazil, with an average price of 4,420 USD/ton, reflecting an increase compared to the same period last year.
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