Pepper price today September 29, 2024: Slight increase of 1,000 VND/kg
Pepper price today September 29, 2024 is in the range of 147,500 - 149,000 VND/kg, pepper price adjusted slightly up 1,000 to 1,500 VND/kg compared to yesterday.
Domestic pepper price on September 29, 2024
Specifically, Dak Lak pepper price was purchased at 148,000 VND/kg, a slight increase of 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 148,000 VND/kg, a slight increase of 1,000 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 147,500 VND/kg.
In the Southeast region, pepper prices today increased slightly by 1,000 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 148,000 VND/kg, down 1,000 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 149,000 VND/kg.
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 148,000 | +1,000 |
| Gia Lai | 148,000 | +1,000 |
| Dak Nong | 147,500 | +1,500 |
| Ba Ria - Vung Tau | 148,000 | +1,000 |
| Binh Phuoc | 149,000 | +1,000 |
| Dong Nai | 148,000 | +1,000 |
Vietnam is currently leading the pepper market in the EU thanks to its quality products and reasonable prices. To increase the value of pepper, Vietnam is aiming to produce organic spices for export, to meet global demand, especially the EU market.
Data from the US International Trade Commission shows that US pepper imports in July increased 25.5% compared to the previous month and 54.1% compared to the previous year. In the first 7 months of the year, the US imported 55,922 tons of pepper, worth 267.2 million USD, up 38.7% in volume and 43.9% in value compared to the same period last year.
Vietnam accounted for 78% of total US pepper imports during the period, with 43,447 tons, worth $204.2 million, up 37% in volume and 46.2% in value over the previous year.
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 6,942 USD/ton (up 0.21%), and the price of Muntok white pepper at 9,430 USD/ton (up 0.22%).
The price of Brazilian ASTA 570 black pepper was at USD 6,750/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.
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.
Nedspice’s report points out that exports in the fourth quarter will be affected by the sale of inventories from previous years, along with new pepper imports. As the coffee harvest season approaches, Vietnamese traders are selling off their pepper inventories to switch to coffee trading.
In Brazil, crop damage and rising prices have fueled speculation in pepper. Nedspice predicts that with global inventories falling, pepper prices will rise, encouraging farmers to invest in maintenance and expansion of pepper acreage.
Experts predict that domestic pepper prices may increase sharply again due to many factors. Although the current trading volume is not high, it is expected to increase in the last months of the year to meet the shopping demand for Tet, helping to increase Vietnamese pepper prices.
