Pepper price today November 5, 2024: Domestic stable, export continuously decreasing
Pepper price today, November 5, 2024, is around 140,000 - 141,000 VND/kg, stable compared to yesterday. Vietnam's pepper exports have continuously decreased in recent months.
Domestic pepper price on November 5, 2024
Specifically, Dak Lak pepper price was purchased at 141,000 VND/kg, stable compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 140,000 VND/kg, stable compared to yesterday. Dak Nong pepper price today was recorded at 141,200 VND/kg.
In the Southeast region, pepper prices today are stable compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 141,000 VND/kg, stable compared to yesterday; in Binh Phuoc, pepper prices today are at 140,000 VND/kg.
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 141,000 | - |
| Gia Lai | 140,000 | - |
| Dak Nong | 141,000 | - |
| Ba Ria - Vung Tau | 141,000 | - |
| Binh Phuoc | 140,000 | - |
| Dong Nai | 141,000 | - |
According to the Ministry of Agriculture and Rural Development, in the first 10 months of 2024, Vietnam exported about 220.3 thousand tons of pepper with an estimated value of 1.12 billion USD, officially surpassing the 1 billion USD mark after many years. Although the volume of pepper exported decreased by 2.3% compared to the same period last year, the value increased sharply by 48.2%.
The average export price of pepper in the first 10 months of 2024 reached about 5,084 USD/ton, an increase of 51.7% over the same period in 2023. This is a positive sign for the pepper export industry when the value increased despite a slight decrease in volume.
In terms of export markets, the US, Germany and the United Arab Emirates (UAE) are the three largest customers, accounting for 44.2% of Vietnam's total pepper export value in the first 9 months of 2024. In particular, exports to Germany increased 2.4 times compared to last year, while exports to China decreased sharply and showed no signs of recovery.
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 6,683 USD/ton, and the price of Muntok white pepper at 9,150 USD/ton.
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 8,500/ton; the price of this country's ASTA white pepper reached USD 11,000/ton.
Vietnamese black pepper prices today are stable at a high level, 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.
Global pepper prices are showing differences between regions. In Southeast Asia, pepper prices fell last week, while in India, pepper prices have rebounded after a month of decline.
Overall, the pepper market is still under pressure from low demand and the rise of the US dollar. In particular, Vietnam's pepper exports have continuously decreased in recent months.
In the short term, the pepper market is expected to continue to fluctuate. Pepper prices are likely to remain stable or decrease slightly due to limited supply and no signs of strong recovery in demand. However, in the long term, when the world economy stabilizes and climate change response solutions are effectively implemented, the pepper market is likely to recover and develop again.
