Pepper price today October 20, 2024: Slight increase again to 1,000 VND/kg

Domestic pepper price today October 20

Domestic pepper price market today October 20, pepper price increased slightly from 500 to 1,000 VND/kg compared to the same time yesterday. Domestic pepper price was updated at 4:00 a.m. on October 20, 2024, the current average is around 143,700 VND/kg, in the range of 143,500 - 144,500 VND/kg. The highest purchase price in Dak Nong and Dak Lak provinces is 144,500 VND/kg

Accordingly, in Dak Lak province, pepper price today is purchased at 144,500 VND/kg. An increase of 1,000 VND/kg compared to the same time yesterday.

In Dak Nong province, pepper price today is purchased at 144,500 VND/kg. An increase of 1,000 VND/kg compared to the same time yesterday.

In Gia Lai province, pepper price today is at 143,000 VND/kg. Stable compared to the same time yesterday.

Meanwhile in Dong Nai, pepper price today is at 143,500 VND/kg. An increase of 500 VND/kg compared to the same time yesterday.

In Ba Ria - Vung Tau province, pepper price today is at 143,500 VND/kg. An increase of 500 VND/kg compared to the same time yesterday.

In Binh Phuoc province, pepper price today is purchased at 143,000 VND/kg. No change compared to the same time yesterday.

Pepper consumption in major export markets will determine the export price of Vietnamese pepper. If demand has not recovered, pepper prices are unlikely to increase.

Vietnam’s new pepper crop output will directly affect supply and prices. If output is lower than expected, pepper prices may increase.

To cope with the volatile pepper market, farmers need to closely monitor the market and make reasonable business decisions. Factors should be considered such as: harvesting when pepper prices are good, avoiding harvesting when prices are low. Preserving pepper to sell when prices increase, avoiding selling at a loss. At the same time, it is advisable to grow other crops to reduce risks and not rely too much on pepper.

World pepper price today October 20

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 6,794 USD/ton (up 0.31%), and the price of Muntok white pepper at 9,302 USD/ton (up 0.32%).

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 8,700/ton; the price of this country's ASTA white pepper reached USD 11,200/ton.

Vietnamese black pepper prices are stable today, 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.

In recent days, the International Pepper Community (IPC) has continuously adjusted the price of Indonesian pepper slightly upward. IPC said that this week the pepper market still has mixed fluctuations. Indian pepper prices, both domestic and international, have continued to decline over the past 3 weeks. The Indonesian Rupiah has strengthened against the USD, helping the price of this country's pepper increase again.

Currently, pepper prices are hovering around VND145,000/kg. Experts warn that if prices fall below VND140,000/kg, there could be a wave of sell-offs, causing prices to fall even more sharply. However, the reality is that the amount of pepper stored in warehouses of large enterprises, traders and people is not much compared to previous years. Enterprises are holding back pepper in case next year's harvest is late, while people expect prices to continue to rise.

After many years, thanks to increased market demand, pepper prices have recovered strongly, bringing this item back to the "billion-dollar export club." According to data from the General Department of Customs, in the first 9 months of the year, Vietnam exported more than 1 billion USD worth of pepper, an increase of 47% in value. Data from the Vietnam Pepper and Spice Association is slightly lower, but also shows that the billion-dollar export target has been achieved early.