Pepper price today October 24, 2024: Strong increase of over 1,000 VND/kg
Pepper price list today October 24, 2024, domestic pepper prices increased sharply from 1,000 - 1,500 VND/kg compared to yesterday. Currently, domestic pepper prices in key regions are in the range of 145,000 - 146,500 VND/kg. Dak Nong pepper prices have the highest price nationwide.
Domestic pepper price today October 24
Domestic pepper price market today October 24, pepper price increased sharply from 1,000 - 1,500 VND/kg compared to the same time yesterday. Domestic pepper price was updated at 4:00 a.m. on October 24, 2024, the current average is around 145,600 VND/kg, in the range of 145,000 - 146,500 VND/kg. The highest purchase price in Dak Nong and Dak Lak provinces is 146,500 VND/kg
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 146,200 | +1,200 |
| Gia Lai | 145,200 | +1,000 |
| Dak Nong | 146,500 | +1,500 |
| Ba Ria - Vung Tau | 145,000 | +1,000 |
| Binh Phuoc | 145,000 | +1,000 |
| Dong Nai | 145,000 | +1,000 |
Accordingly, in Dak Lak province, pepper price today is purchased at 146,200 VND/kg. An increase of 1,200 VND/kg compared to the same time yesterday.
In Dak Nong province, pepper price today is purchased at 145,000 VND/kg. An increase of 1,500 VND/kg compared to the same time yesterday.
In Gia Lai province, pepper price today is at 144,000 VND/kg. An increase of 1,000 VND/kg compared to the same time yesterday.
Meanwhile in Dong Nai, pepper price today is at 144,000 VND/kg. An increase of 1,000 VND/kg compared to the same time yesterday.
In Ba Ria - Vung Tau province, pepper price today is at 144,000 VND/kg. An increase of 1,000 VND/kg compared to the same time yesterday.
In Binh Phuoc province, pepper price today is purchased at 144,000 VND/kg. An increase of 1,000 VND/kg compared to the same time yesterday.
In the first 15 days of October, the average export price of Vietnamese pepper exceeded 6,500 USD/ton, a slight increase of 0.7% compared to the previous month and a sharp increase of 67.6% compared to the same period last year, marking the highest price since March 2017. Since the beginning of the year, the average export price reached 5,005 USD/ton, an increase of 50.1% compared to the same period, although the export volume decreased by 2.5%.
Thanks to the price increase, pepper export turnover still increased strongly by 46.4%, reaching 208,776 tons and bringing in 1.04 billion USD. This figure is slightly lower than the data of the Vietnam Pepper and Spice Association (VPSA), but the overall result shows that Vietnam has surpassed the 1 billion USD mark in pepper exports for the first time in 8 years.
The Ministry of Industry and Trade forecasts that world pepper prices will remain high in the short term due to limited supply, which will benefit the Vietnamese pepper industry. However, high prices will also limit demand, especially weak demand from the Chinese market, affecting the industry's growth momentum.
World pepper price today October 24
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 6,753 USD/ton, and the price of Muntok white pepper at 9,246 USD/ton.
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.
The global pepper market recorded little change last week, with increased demand in major markets such as the US, EU and Asia, while the Middle East and China remained quiet. Pepper inventories decreased significantly, causing farmers and dealers to limit sales as pepper prices decreased slightly.
Severe drought in Brazil has reduced pepper production by 25-40%, however, thanks to higher pepper prices, the country's export revenue has increased. In contrast, Indonesia recorded a 14.4% increase in pepper production, helping to improve its competitiveness in the international market. In addition, India's pepper exports increased by 31.4%, while Malaysia's output is expected to reach 27,000 tons.
Cambodia recorded a 51% increase in pepper exports, with Vietnam being the main buyer. While China’s pepper imports from Vietnam fell sharply by 84.1%, China increased its imports from Indonesia. These developments highlight important trends and potential risks for pepper exporters, said Marcellus Giovanni, CEO of Brazspice Spices International.
