Pepper price today November 20, 2024: Forecast in 2024, pepper industry will reach turnover of 1.3 billion USD
Pepper price today, November 20, 2024, is between 139,000 - 140,000 VND/kg. Dak Lak pepper price increased by 500 VND/kg to the same level as Dak Nong pepper price. It is forecasted that in 2024, the pepper industry will reach a turnover of 1.3 billion USD.
Domestic pepper price on November 20, 2024
Specifically, Dak Lak pepper price was purchased at 140,000 VND/kg, an increase of 500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 139,000 VND/kg, stable compared to yesterday. Dak Nong pepper price today was recorded at 140,000 VND/kg.
In the Southeast region, pepper prices today are stable compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 139,000 VND/kg; in Binh Phuoc, pepper prices today are at 139,000 VND/kg.
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 140,000 | +500 |
| Gia Lai | 139,000 | - |
| Dak Nong | 140,000 | - |
| Ba Ria - Vung Tau | 139,000 | - |
| Binh Phuoc | 139,000 | - |
| Dong Nai | 139,000 | - |
It is forecasted that by 2024, the pepper industry will reach a turnover of 1.3 billion USD. To maintain its position as the world's number 1 exporter, Vietnam needs to improve quality, expand its market, promote deep processing, and build a sustainable brand with higher value in the international market.
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 6,470 USD/ton, and the price of Muntok white pepper at 9,055 USD/ton.
The price of Brazilian ASTA 570 black pepper was at $6,000/ton. The price of Malaysian ASTA black pepper remained stable at $8,400/ton; the price of this country's ASTA white pepper reached $10,500/ton.
Vietnamese black pepper prices today decreased slightly, trading at 6,200 USD/ton for 500 g/l; 550 g/l at 6,500 USD/ton; white pepper prices at 9,400 USD/ton.
In the first half of November 2024, Vietnam exported 8,082 tons of pepper, earning 55.4 million USD. The three leading exporters were Nedspice (988 tons), Tran Chau (895 tons), and Olam Vietnam (865 tons). The US continued to be the largest market, accounting for 29.2% of the market share with 2,362 tons.
During the same period, Vietnam imported 2,484 tons of pepper, worth US$14.3 million, up 8.2% compared to the first half of October. Olam Vietnam (894 tons) and Harris Spice (530 tons) were the two largest importers. Indonesia accounted for 82.3% of the imported supply, equivalent to 2,045 tons.
Pepper exports are slowing down due to falling demand in major markets, causing prices to not recover. By the end of October 2024, Vietnam had exported a total of 219,387 tons of pepper, including 193,892 tons of black pepper and 25,495 tons of white pepper.
