Pepper price today October 21, 2024: Last week increased slightly by 500 VND/kg in the Central Highlands

Domestic pepper price today October 21

Domestic pepper price market today October 21, 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 21, 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. Stable compared to the same time yesterday.

In Dak Nong province, pepper price today is purchased at 144,500 VND/kg. Stable 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. Stable compared to the same time yesterday.

In Ba Ria - Vung Tau province, pepper price today is at 143,500 VND/kg. Stable 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.

Last week, pepper prices in the Central Highlands increased slightly by VND500/kg, while the Southeast provinces recorded a decrease. The market fluctuated slightly, but still showed instability.

The pepper market is facing difficulties due to the amount of pepper stored in warehouses of businesses and traders being less than in previous years. Businesses are stockpiling to cope with the possibility of a delayed harvest next year, while farmers expect pepper prices to continue to increase.

However, competition from new pepper sources from Indonesia and China’s increased purchases of pepper from Indonesia are holding back the recovery of Vietnam’s pepper market. Major consumer markets such as Europe and the United States have not shown signs of recovering demand, making pepper export prices difficult. If pepper prices fall below VND140,000/kg, a sell-off may occur, but current reserves are still limited, helping to reduce the risk of a sharp price drop.

World pepper price today October 21

Update on world pepper prices from the International Pepper Association (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.

Vietnam's black pepper price today is stable, trading at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price at 9,500 USD/ton.

According to Ptexim, the global pepper market is sluggish due to low demand in major markets such as the US, China, the EU and the Middle East, while tensions in the Middle East continue to limit imports. The September report of Harris Spice shows that pepper prices have fluctuated little, in the context of increased supply from Indonesia and Brazil after the harvest, but demand from China has weakened despite a slight increase at the beginning of the year.

In India, erratic weather has affected the pepper crop. The early monsoon season helped the plants flower well, but drought in June-July and then prolonged rains caused diseases and flower drop, affecting production. In Vietnam, scattered rains continued after the drought earlier in the year, helping many pepper growing areas flower late, but production will still depend on the weather in the coming months.

In Indonesia, the harvest in southern Sumatra is picking up pace, with good yields after three years of low yields. Meanwhile, in Brazil, harvest has begun but has been hampered by unusual rains, leading to limited selling pressure. The medium- to long-term movement of pepper prices will depend largely on the next crop in Vietnam, with clearer prospects in the coming months.