Pepper price today September 24, 2024: Sharp increase from 1,500 VND/kg
Pepper price today September 24, 2024 is in the range of 151,500 - 153,500 VND/kg, pepper price increased sharply from 1,500 to 2,500 VND/kg compared to yesterday. White pepper price increased sharply.
Domestic pepper price on September 24, 2024
Specifically, Dak Lak pepper price was purchased at 153,500 VND/kg, a sharp increase of 2,500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 152,000 VND/kg, a sharp increase of 2,000 VND/kg compared to last week. Dak Nong pepper price today was recorded at 153,000 VND/kg.
In the Southeast region, pepper prices today increased sharply by 1,500 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 151,500 VND/kg, an increase of 1,500 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 151,500 VND/kg.
Domestic pepper price list September 24, 2024
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 153,500 | +2,500 |
| Gia Lai | 152,000 | +2,000 |
| Dak Nong | 153,000 | +2,000 |
| Ba Ria - Vung Tau | 151,500 | +1,500 |
| Binh Phuoc | 151,500 | +1,500 |
| Dong Nai | 151,500 | +1,500 |
Domestic pepper prices have recovered slightly after falling early last week. The Fed’s decision to cut interest rates did not have much impact on domestic pepper prices, but the decline in the US dollar has supported the increase in international pepper prices.
The pepper market is quiet due to a shortage of supply after the recent export season. In the first 15 days of September 2024, Vietnam exported 6,917 tons of pepper, earning 42.3 million USD, down 30% compared to August.
Global supply constraints are the main factor driving up pepper prices recently. It is forecast that in the next 3-5 years, pepper production will not be enough to meet global consumption demand. Pepper prices are not expected to increase dramatically this week, but there are positive signs from the market. Experts predict that pepper prices may rise above 160,000 VND/kg before the new harvest season in Vietnam.
World pepper prices today
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 7,715 USD/ton, and the price of Muntok white pepper at 9,305 USD/ton (up 1.65%).
The price of Brazilian ASTA 570 black pepper was at USD 6,900/ton. 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 11,200/ton (up 2.75%).
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.
Latest statistics show fluctuations in pepper exports from leading countries. Vietnam and Brazil are witnessing a decline, while Indonesia and India have posted impressive growth.
Data from Brazil in August showed that pepper exports fell 23.8% in volume and 17.8% in value compared to the previous month. Compared to the previous year, volume fell 28.6% but value increased 13.5%.
Brazil's total pepper exports in the first eight months of the year reached 45,699 tonnes, worth $183.4 million. Although the volume decreased by 10.4%, the value increased by 19.3% compared to the same period in 2023 due to rising prices. This year, Brazil's pepper production decreased sharply due to the impact of drought caused by the El Nino phenomenon.
