Pepper price today September 23, 2024: Last week decreased sharply by 5,000 VND/kg
Pepper price today, September 23, 2024, is in the range of 150,000 - 151,000 VND/kg, pepper price last week decreased from 2,000 to 5,000 VND/kg in localities. World pepper price remained unchanged compared to yesterday.
Domestic pepper price on September 23, 2024
Specifically, Dak Lak pepper price was purchased at 151,000 VND/kg, down 5,000 VND/kg compared to last week. Chu Se pepper price (Gia Lai) was purchased at 150,000 VND/kg, down 5,000 VND/kg compared to last week. Dak Nong pepper price today was recorded at 151,000 VND/kg.
In the Southeast region, pepper prices today have dropped sharply from 2,000 to 5,000 VND/kg compared to last week. Specifically, in Ba Ria - Vung Tau, it is currently at 150,000 VND/kg, down 5,000 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 150,000 VND/kg.
Domestic pepper price list September 23, 2024
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from last week (Unit: VND/kg) |
| Dak Lak | 151,000 | -5,000 |
| Gia Lai | 150,000 | -4,000 |
| Dak Nong | 151,000 | -5,000 |
| Ba Ria - Vung Tau | 150,000 | -5,000 |
| Binh Phuoc | 150,000 | -2,000 |
| Dong Nai | 150,000 | -5,000 |
The US Federal Reserve has updated its monetary policy after four years, creating a significant impact on the country's economy and providing new opportunities for industries, including pepper production in Vietnam.
The reduction in the base interest rate to 0.5%, from the current level of 4.75-5%, has encouraged consumption in the US and increased pepper exports from Vietnam to the US market.
This interest rate cut is expected to create major changes in the global pepper market. Experts predict that the supply shortage compared to demand will continue to be recorded and affect prices in the coming time.
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 7,715 USD/ton (up 2%), and the price of Muntok white pepper at 9,154 USD/ton (up 2%).
The price of Brazilian ASTA 570 black pepper was at USD 6,900/ton (down 8%). The price of Malaysian ASTA black pepper remained stable at USD 8,800/ton; the price of this country's ASTA white pepper reached USD 10,900/ton (up 2.8%).
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.
Since the beginning of the year, Vietnam has recorded strong growth in pepper exports to major markets, except China. Pepper exports to China in the first 8 months of the year decreased by 84.4% in volume and 80.2% in value compared to the previous year.
Vietnam's pepper export market share to China decreased from 28.6% to 4.6%. China currently ranks 5th in the list of largest pepper import markets from Vietnam, down 4 places compared to 2023.
The decline may be due to China’s economic growth not meeting expectations, people limiting spending and sufficient inventories. Domestic pepper prices in China being lower than in Vietnam is also a factor affecting imports.
