Pepper price today October 2, 2024: Mixed increase and decrease of 1,000 VND/kg
Pepper price today October 2, 2024 is in the range of 147,000 - 149,000 VND/kg, pepper price adjusted up and down from 500 to 1,000 VND/kg compared to yesterday.
Domestic pepper price on October 2, 2024
Specifically, Dak Lak pepper price was purchased at 149,000 VND/kg, a slight increase of 500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 147,000 VND/kg, a slight decrease of 1,000 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 148,000 VND/kg.
In the Southeast region, pepper prices today increased slightly by 1,000 VND/kg in Binh Phuoc compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 148,000 VND/kg, stable compared to yesterday; in Binh Phuoc, pepper prices today are at 149,000 VND/kg.
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 149,000 | +500 |
| Gia Lai | 148,000 | -1,000 |
| Dak Nong | 148,000 | -1,000 |
| Ba Ria - Vung Tau | 148,000 | - |
| Binh Phuoc | 149,000 | +1,000 |
| Dong Nai | 148,000 | - |
Pepper prices are currently falling for a number of reasons, including the shift of investment capital to coffee. The upcoming coffee harvest season in Vietnam, expected in the fourth quarter of 2024, may cause traders to sell pepper to focus capital on coffee, especially when Robusta coffee prices are rising.
The domestic pepper market is quiet due to limited supply, but pepper prices may increase above VND160,000/kg before the new harvest season. The Vietnam Pepper Association (VPA) forecasts that in the next 3-5 years, global pepper consumption demand will increase, while production will not be enough to supply.
Pepper producers are trying to work more closely together to better control prices and orders. Pepper prices are likely to be under pressure in the fourth quarter of 2024, especially as the coffee harvest approaches. Pepper liquidation may slow down due to low pepper inventories and the coffee harvest being postponed to November.
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 6,939 USD/ton (down 0.04%), and the price of Muntok white pepper at 9,278 USD/ton (down 1.61%).
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 8,900/ton (up 1.13%); the price of this country's ASTA white pepper reached USD 11,400/ton (up 1.78%).
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.
In September, Vietnam exported 20,000 tons of pepper, earning 125 million USD. Compared to the previous year, the export volume increased by 10.4% and the value increased by 84.9%.
As of September 2024, total pepper export revenue was over $1 billion for 203,000 tons. Although export volume decreased slightly by 1.5% compared to the previous year, the value increased by 46.9%. Pepper prices increased due to reduced supply and changes in cultivation, along with speculation in the market.
Exporters are under pressure from weak purchasing power and high domestic prices. The price of “black gold” pepper in September was 6,239 USD/ton, up 67.5% compared to the previous year, the highest in the past 8 years. This year, pepper prices are expected to start a new cycle of price increases, returning to the golden age.
