Pepper price today November 9, 2024: Slight increase in Dak Lak
Pepper price today, November 9, 2024, is in the range of 138,000 - 139,000 VND/kg, a slight increase of 500 VND/kg in Dak Lak compared to yesterday. This price increase is just an adjustment after a day of decline due to the high USD exchange rate.
Domestic pepper price on November 9, 2024
Specifically, Dak Lak pepper price was purchased at 139,000 VND/kg, an increase of 500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 138,000 VND/kg, stable compared to yesterday. Dak Nong pepper price today was recorded at 139,000 VND/kg.
In the Southeast region, pepper prices today are stable compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 139,000 VND/kg, stable compared to yesterday; in Binh Phuoc, pepper prices today are at 138,000 VND/kg.
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 139,000 | +500 |
| Gia Lai | 138,000 | - |
| Dak Nong | 139,000 | - |
| Ba Ria - Vung Tau | 139,000 | - |
| Binh Phuoc | 138,000 | - |
| Dong Nai | 139,000 | - |
According to preliminary statistics from the Vietnam Pepper and Spice Association (VPSA), in October, Vietnam imported a total of 4,818 tons of pepper of all kinds, including 4,566 tons of black pepper and 252 tons of white pepper, with a turnover of 29.3 million USD. Compared to the previous month, the import volume increased by 98.3%.
Indonesia remained the main pepper supplier to Vietnam, importing 3,970 tonnes, accounting for 82.4% of total imports in October. Brazil followed, supplying 501 tonnes, accounting for 10.4% of the market share. The largest importers included Olam with 1,012 tonnes, Harris Spices with 863 tonnes, Phuc Sinh with 650 tonnes, Phuc Thinh with 630 tonnes and Tran Chau with 611 tonnes.
From the beginning of the year to the end of October 2024, Vietnam imported a total of 28,596 tons of pepper, of which 25,456 tons were black pepper and 3,140 tons were white pepper, with a turnover of 131.3 million USD. Compared to the same period last year, the import volume increased by 27.1% and the turnover increased by 78.5%. The leading importers during this period included Olam Vietnam with 9,510 tons, Tran Chau with 3,685 tons, Phuc Sinh with 1,942 tons, KSS Vietnam with 1,497 tons and Phuc Thinh with 1,396 tons.
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 6,665 USD/ton (up 0.47%), and the price of Muntok white pepper at 9,124 USD/ton (up 0.46%).
The price of Brazilian ASTA 570 black pepper was at USD 6,300/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.
On November 7, pepper prices dropped sharply by 5,000 VND/kg, officially falling below 140,000 VND/kg. However, today the market has shown signs of recovery, up 50% compared to yesterday's decrease. Recently, as the coffee harvest has begun, farmers and agents need large capital to import coffee, so they have sold some pepper to rotate capital. This has caused the pepper trading volume to increase, creating downward pressure on prices.
In addition, the market was also strongly affected by the results of the US presidential election. By the morning of November 8, the US Dollar Index (DXY), which reflects the strength of the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), had decreased by 0.76% to 104.33. The depreciation of the USD created conditions for agricultural product prices to increase, including pepper prices in the international and domestic markets.
According to experts, although pepper prices have fluctuated erratically, they are gradually being adjusted to their real value. The demand for pepper consumption during the year-end holiday season is forecast to be a positive driving force for pepper prices. With prices remaining stable at a high level, Vietnam's pepper exports are expected to continue to be stable in the last months of 2024.
