Pepper price today October 4, 2024: Slight decrease of 1,000 VND/kg again
Pepper price today October 4, 2024 is around 147,000 - 148,000 VND/kg, pepper price has slightly decreased from 500 to 1,000 VND/kg compared to yesterday.
Domestic pepper price on October 4, 2024
Specifically, Dak Lak pepper price was purchased at 148,000 VND/kg, a slight decrease of 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 147,000 VND/kg, a slight decrease of 500 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 148,000 VND/kg.
In the Southeast region, pepper prices today decreased slightly by 1,000 VND/kg in Binh Phuoc 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 148,000 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 | 147,000 | -500 |
| Dak Nong | 148,000 | -500 |
| Ba Ria - Vung Tau | 148,000 | - |
| Binh Phuoc | 148,000 | -1,000 |
| Dong Nai | 148,000 | - |
This year, pepper prices have increased sharply, from VND87,000/kg to VND150,000/kg, helping pepper farmers earn high profits. Due to the increase in pepper prices, Vietnam's pepper export value has also increased compared to last year. However, export enterprises cannot buy as much domestic pepper as desired.
Phuc Sinh Company has imported a lot of pepper from Brazil and Indonesia due to the decrease in domestic pepper production and drought. Domestic pepper trading is currently weak due to scarce supply. Many investors are holding on to their stocks and selling them little by little, waiting for the market to react.
Pepper prices are expected to increase due to import demand from China during the Lunar New Year and holidays in Europe. This is an opportunity for investors to sell their pepper reserves for high profits.
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 6,892 USD/ton, and the price of Muntok white pepper at 9,216 USD/ton (down 0.67%).
The price of Brazilian ASTA 570 black pepper was at USD 6,850/ton (up 2.24%). 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.
IPC has adjusted up the price of Brazilian black pepper after the harvest season in Indonesia ended, leading to increased supply and lower prices in the market.
Vietnam is currently the world’s leading producer and exporter of pepper. However, due to competition from other products such as coffee and durian, pepper acreage and production in Vietnam are decreasing. This decrease, coupled with increased demand, has increased pepper prices.
Ms. Hoang Thi Lien, Chairwoman of the Vietnam Pepper and Spice Association (VPSA), recommended that businesses should adjust their buying and selling prices in a balanced manner to minimize price risks. If domestic pepper prices increase, export prices should also increase accordingly. She also advised businesses to purchase goods slowly to avoid putting pressure on prices when there are large orders, avoiding causing a shortage of goods.
