Pepper price today November 2, 2024: Continue to decrease to 1,300 VND/kg
Pepper price today, November 2, 2024, is in the range of 140,000 - 141,200 VND/kg, down to 1,300 VND/kg. Pepper price is expected to continue to decrease due to capital pouring into coffee.
Domestic pepper price on November 2, 2024
Specifically, Dak Lak pepper price was purchased at 141,000 VND/kg, down 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 140,000 VND/kg, down 1,000 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 141,200 VND/kg.
In the Southeast region, pepper prices today decreased by 1,000 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 141,000 VND/kg, down 1,000 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 140,000 VND/kg.
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 141,000 | -1,000 |
| Gia Lai | 140,000 | -1,000 |
| Dak Nong | 141,200 | -1,300 |
| Ba Ria - Vung Tau | 141,000 | -1,000 |
| Binh Phuoc | 140,000 | -1,000 |
| Dong Nai | 141,000 | -1,000 |
Domestic pepper prices are expected to continue their downward trend tomorrow, affected by the international market and the lack of strong recovery in domestic demand. Experts advise pepper growers to prepare for short-term fluctuations as the market still has many potential risks.
In October, pepper prices fell by VND7,000/kg. Data from the International Pepper Community (IPC) also showed that Vietnam's pepper export prices in October 2024 fell by USD300/ton. The main reason was that pepper market demand weakened amid geopolitical instability, as global consumers focused on essential goods.
The domestic pepper market is also facing downward pressure as agricultural companies, agents and intermediaries are actively selling black pepper to meet liquidity needs. This activity is mainly aimed at raising capital for investment in coffee - an agricultural product that is in the harvest season and has nearly doubled in price compared to last year.
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 6,683 USD/ton (down 0.12%), and the price of Muntok white pepper at 9,150 USD/ton (down 0.11%).
The price of Brazilian ASTA 570 black pepper was at USD 6,400/ton. The price of Malaysian ASTA black pepper remained stable at USD 8,500/ton; the price of this country's ASTA white pepper reached USD 11,000/ton.
Vietnamese black pepper prices today are stable at a high level, trading at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper prices at 9,500 USD/ton.
According to the Ministry of Agriculture and Rural Development, pepper is the agricultural product with the strongest export growth in the first 10 months of 2024, reaching 1.12 billion USD, up 48% over the same period last year. This is the first time in 6 years that this industry has surpassed the 1 billion USD mark after only 10 months.
The main reason for this impressive growth is the high pepper price due to the decrease in global supply, while demand has recovered strongly in major markets, especially the US and EU. This has created a strong driving force for the pepper industry, helping to maintain high growth momentum.
According to the European Statistical Office (Eurostat), in the first 8 months of 2024, the EU imported 44,870 tons of pepper from non-bloc markets, worth nearly EUR 216 million, up 33.3% in volume and 49.5% in value over the same period last year. Vietnam is the largest pepper supplier to the EU, accounting for 66.3% of the total volume and 63% of the total value of EU imports from non-bloc markets, with 29,736 tons, worth EUR 138.3 million, up 41.8% in volume and 66.5% in value.
