Pepper price today October 3, 2024: Slight increase of 500 VND/kg
Pepper price today October 3, 2024 is in the range of 147,500 - 149,000 VND/kg, pepper price increased slightly by 500 VND/kg in Gia Lai and Dak Nong compared to yesterday.
Domestic pepper price on October 3, 2024
Specifically, Dak Lak pepper price was purchased at 149,000 VND/kg, stable compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 147,500 VND/kg, slightly increased by 500 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 148,500 VND/kg.
In the Southeast region, pepper prices today are stable compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 148,000 VND/kg, unchanged from 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 | 149,000 | - |
| Gia Lai | 147,500 | +500 |
| Dak Nong | 148,500 | +500 |
| Ba Ria - Vung Tau | 148,000 | - |
| Binh Phuoc | 149,000 | - |
| Dong Nai | 148,000 | - |
Mr. Phan Minh Thong, Chairman of the Board of Directors of Phuc Sinh Company, said that the Vietnamese pepper industry is benefiting from high export prices and scarce supply. This year, pepper prices have skyrocketed from VND87,000/kg to VND150,000/kg, a great benefit for farmers.
Pepper exporters have had difficulty buying domestic pepper due to high prices, forcing Phuc Sinh to import from Brazil and Indonesia. Farmers hold onto pepper for speculation, and falling output and drought have further limited supply.
After a decade, Vietnam's pepper exports returned to a billion-dollar turnover. In 2024, Vietnam's pepper exports reached 1.2 billion USD and the highest price was in 2015 at 230 million VND/ton. Since 2016, pepper prices have decreased, and export revenue in the following years has only remained at 700-800 million USD.
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 6,892 USD/ton (down 0.68%), and the price of Muntok white pepper at 9,278 USD/ton (down 0.67%).
The price of Brazilian ASTA 570 black pepper was at USD 6,700/ton (down 0.74%). The price of Malaysian ASTA black pepper remained stable at USD 8,900/ton; the price of this country's ASTA white pepper reached USD 11,400/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.
Pepper exports in the final quarter of the year are expected to be affected by large investors releasing inventories from previous years and new imports. The coffee harvest season usually takes place in October, increasing the demand for liquidation of pepper in preparation for coffee trading.
However, due to low pepper inventories and the delayed coffee harvest this year, pepper liquidation may decrease. The domestic pepper market is currently not active due to limited supply, while Indonesia has abundant supply from the new crop, putting downward pressure on prices.
Major investors are holding onto their stocks and selling them little by little, waiting for market signals. They expect pepper prices to rise ahead of high import demand during the Chinese New Year and European holidays.
