Pepper price today October 7, 2024: Sharp decrease of 2,000 VND last week
Pepper price today October 7, 2024 is in the range of 146,500 - 147,500 VND/kg, pepper price last week continued to decrease from 500 to 2,000 VND/kg compared to the previous week. The sharp increase in imported pepper from India is putting pressure on domestic prices to decrease.
Domestic pepper price on October 7, 2024
Specifically, Dak Lak pepper price was purchased at 147,500 VND/kg, a slight decrease of 500 VND/kg compared to last week. Chu Se pepper price (Gia Lai) was purchased at 146,500 VND/kg, a decrease of 1,500 VND/kg compared to last week. Dak Nong pepper price today was recorded at 147,500 VND/kg.
In the Southeast region, pepper prices today dropped sharply by 2,000 VND/kg compared to last week. Specifically, in Ba Ria - Vung Tau, it is currently at 147,000 VND/kg, down 1,000 VND/kg compared to last week; in Binh Phuoc, pepper prices today are at 147,000 VND/kg.
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from last week (Unit: VND/kg) |
| Dak Lak | 147,500 | -500 |
| Gia Lai | 146,500 | -1,500 |
| Dak Nong | 147,500 | 0 |
| Ba Ria - Vung Tau | 147,000 | -1,000 |
| Binh Phuoc | 147,000 | -2,000 |
| Dong Nai | 147,000 | -1,000 |
In the first nine months of 2024, Vietnam's agricultural, forestry and fishery exports reached US$46.28 billion, up 21% year-on-year. Imports of these items also increased to US$32.42 billion, up 7.5%.
Vietnam recorded a trade surplus of 13.86 billion USD from agriculture, forestry and fishery, up 71.2% over the same period. Products such as coffee and pepper saw remarkable growth. Specifically, coffee reached 4.37 billion USD, up 39.6%, although export volume decreased by 10.5%. Pepper also increased sharply with revenue of 1 billion USD, up 46.9%.
The average export price of coffee increased by 56% to 3,897 USD/ton, while pepper increased by 49.2% to 4,941 USD/ton. Experts predict that the Vietnamese pepper market will continue to grow and keep prices stable in the coming time. Currently, the domestic pepper supply has almost been exhausted, only remaining in the warehouses of enterprises.
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 6,782 USD/ton, and the price of Muntok white pepper at 9,068 USD/ton.
The price of Brazilian ASTA 570 black pepper was at USD 6,850/ton. 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.
In India, black pepper prices have fallen by Rs 17 per kg in the last two weeks due to weak demand and increased imports. The Indian wholesale market recorded 4,422 tonnes of pepper imports from various countries, which reduced domestic pepper prices. Sri Lanka, Brazil, Vietnam and Indonesia are the major exporters of black pepper to India.
According to Kishore Shamji, President of the Indian Pepper and Spice Trade Association (IPSTA), the price of imported pepper is 25 rupees per kg lower than that of domestically produced pepper. The falling demand for black pepper from China has affected Vietnam’s exports. Due to the falling demand from China, Vietnam’s pepper has shifted to the Indian market. Political conflicts in West Asia have slowed down purchases from the US and Europe, forcing Indian traders to keep their stocks in stock.
The glut of imports has led domestic buyers to limit purchases, expecting further price falls. Some industrial buyers have booked pepper at discounted prices for shipments in October and November. Although the festival season in North India has begun, demand for black pepper remains low due to competition from cheap imports.
