Pepper price today October 8, 2024: Continue to decrease by 500 VND/kg
Pepper price today October 8, 2024 is around 146,000 - 147,000 VND/kg, today's pepper price continues to decrease by 500 VND/kg compared to yesterday. Pepper export price increased to the highest level in nearly 8 years.
Domestic pepper price on October 8, 2024
Specifically, Dak Lak pepper price was purchased at 147,000 VND/kg, a slight decrease of 500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 146,000 VND/kg, a decrease of 500 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 147,000 VND/kg.
In the Southeast region, pepper prices today decreased slightly by 500 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 146,500 VND/kg, down 500 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 yesterday (Unit: VND/kg) |
| Dak Lak | 147,000 | -500 |
| Gia Lai | 146,000 | -500 |
| Dak Nong | 147,000 | -500 |
| Ba Ria - Vung Tau | 146,500 | -500 |
| Binh Phuoc | 147,000 | - |
| Dong Nai | 146,500 | -500 |
In September, Vietnam exported 17,707 tons of pepper, earning 110.5 million USD. Compared to August, the export volume decreased by 8.8% and the value decreased by 5.4%. When compared to September last year, the volume decreased by 2.2% but the value increased significantly by 63.7%.
Total pepper exports in the first nine months of the year were 200,637 tons, worth nearly $990 million. Although the export volume decreased by 2.6%, the value increased by 45% compared to the same period last year. The average export price of pepper in the first nine months of the year was $4,933/ton, up 49% compared to last year.
In September, the average export price reached a nearly eight-year high of $6,239 per tonne. This was up 3.8% from August and 67.5% from September last year. By the end of September, Vietnam’s pepper exports had surpassed the 2024 target of 170,000 tonnes. The decline in exports in September is a sign that domestic pepper supplies are shrinking.
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 6,702 USD/ton (down 1.18%), and the price of Muntok white pepper at 9,068 USD/ton (down 1.18%).
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.
Farmers still keep the habit of stockpiling pepper, not rushing to sell it to the market. Agents sell pepper to have capital to invest in the upcoming coffee season, while consumption demand has not increased strongly, causing pepper prices to decrease slightly. The Vietnamese pepper industry is enjoying an advantage with high export prices due to scarce supply.
This year, pepper prices have skyrocketed, from VND87,000/kg to VND150,000/kg, bringing joy to pepper farmers. Pepper exporters are having difficulty buying domestic pepper due to high prices, forcing them to import from Brazil and Indonesia. Pepper inventories from 2023 and imports in 2024 are estimated at 40,000 to 45,000 tons, including smuggled goods.
The amount of pepper available for export until the end of 2024 will be less than in previous years, until the new crop begins in March 2025. Experts predict that the supply shortage may affect pepper prices in the coming time, but a strong pepper market in 2024 will promote further development of the industry.
