Pepper price today October 25, 2024: Continue to increase slightly by 500 VND/kg

Domestic pepper price today October 25

Domestic pepper price market today October 25, pepper price increased slightly from 500 - 1,000 VND/kg compared to the same time yesterday. Domestic pepper price was updated at 4:00 a.m. on October 25, 2024, the current average is around 146,200 VND/kg, in the range of 145,500 - 147,000 VND/kg. The highest purchase price in Dak Nong province is 147,000 VND/kg

Accordingly, in Dak Lak province, pepper price today is purchased at 146,700 VND/kg. An increase of 500 VND/kg compared to the same time yesterday.

In Dak Nong province, pepper price today is purchased at 147,000 VND/kg. An increase of 500 VND/kg compared to the same time yesterday.

In Gia Lai province, pepper price today is at 145,700 VND/kg. An increase of 500 VND/kg compared to the same time yesterday.

Meanwhile in Dong Nai, pepper price today is at 146,000 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 146,000 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 145,500 VND/kg. An increase of 500 VND/kg compared to the same time yesterday.

Currently, pepper gardens in Ba Ria - Vung Tau are in the fruit-growing stage, preparing for the harvest around mid-January 2025. However, unfavorable weather has caused many pepper flowers to fall off, the fruit-setting rate is low, leading to the risk of crop failure. This makes many farmers worried, especially when pepper prices are currently high, around 150,000 VND/kg, but profits are expected to decrease sharply due to low output.

In Xuyen Moc district, many pepper gardens have lush green leaves, but the fruit set rate is very low. Mr. Tran Van Phap, owner of a 1.1-hectare pepper garden in Hoa Hung commune, said that last year his garden harvested more than 5 tons of pepper, but this year it is expected to reach only 50% of the output. This reflects the serious impact of the weather on the crop, in the context that farmers are expecting high pepper prices.

In Chau Duc district, considered the largest pepper growing area in the province, many farmers are facing a similar situation. Mr. Ho Van Thu’s 2-hectare pepper garden also saw a significant drop in productivity, reaching only about 2.5 tons instead of 5 tons like last year. Mr. Thu shared that pepper plants are very sensitive to the weather, and this year’s hot, dry weather and low humidity have severely affected the flowering and fruiting process of pepper plants, causing productivity to decrease by more than 50%.

World pepper price today October 25

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 6,727 USD/ton (down 0.39%), and the price of Muntok white pepper at 9,210 USD/ton (down 0.39%).

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.

Pepper prices were under downward pressure in the third quarter and early October as agricultural companies, agents and intermediaries actively sold black pepper. The main reason was the need for liquidity, as sellers needed to raise capital to invest in coffee, an agricultural product that was in the harvest season. At the same time, increased supply from Brazil and Indonesia while global demand did not increase strongly, along with reduced purchases by China, also contributed to the decline in pepper prices in the third quarter.

However, low domestic pepper inventories have kept prices high. Currently, domestic pepper prices are nearly 80% higher than at the beginning of the year and double that of the same period last year. Both pepper and coffee are agricultural products with the strongest price increases in recent times.

In the third quarter, pepper exports by enterprises decreased compared to the second quarter - the peak export period of the year. However, in the first 9 months of the year, exports of most large enterprises in the industry increased sharply compared to the same period last year. Leading pepper exporting enterprises include Olam Vietnam with 20,565 tons, Phuc Sinh 18,513 tons, and Nedspice Vietnam 15,136 tons. Some other enterprises also had a sudden increase in export volume such as Simexco Dak Lak increased by 202.9%, and Lien Thanh increased by 65.1%.