Pepper price today September 5, 2024: Continue to increase by 1,000 VND/kg
Pepper price today September 5, 2024 is around 152,000-153,000 VND/kg, pepper price continues to increase by 500 to 1,000 VND/kg in the Central Highlands provinces.
Domestic pepper price on September 5, 2024
Specifically, Dak Lak pepper price was purchased at 153,000 VND/kg, a slight increase of 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 152,000 VND/kg, an increase of 500 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 153,000 VND/kg.
In the Southeast region, pepper prices today increased sharply by 1,000 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 152,500 VND/kg, an increase of 1,000 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 153,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday.
Domestic pepper price list September 5, 2024
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from last week (Unit: VND/kg) |
| Dak Lak | 153,000 | +1,000 |
| Gia Lai | 152,000 | +500 |
| Dak Nong | 153,000 | +1,000 |
| Ba Ria - Vung Tau | 152,500 | +1,000 |
| Binh Phuoc | 153,000 | +1,000 |
| Dong Nai | 152,500 | +1,000 |
Last week, China increased its pepper orders from Vietnam by 3,000 to 4,000 tonnes. This could be due to the sharp decline in pepper inventories after a long period of not buying, forcing them to buy in large quantities to meet demand amid the expected decline in global production in the coming years.
China's domestic pepper prices have skyrocketed, from 47 yuan/kg to 51 yuan/kg in just two days, an increase of 8.5%.
The Middle East market has also started buying strongly after selling off cheap imported stocks from the beginning of the year, making the pepper market more bustling.
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 7,488 USD/ton (down 0.13%), and the price of Muntok white pepper at 8,829 USD/ton (down 0.13%).
The price of Brazilian ASTA 570 black pepper was at USD 7,500/ton (up 7.14%). 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 10,400/ton.
Vietnam's black pepper prices remained stable at a high level, trading at 6,600 USD/ton (up 8.19%) for the 500 g/l type; 7,000 USD/ton for the 550 g/l type (up 12.9%); and 9,300 USD/ton for white pepper (up 5.68%).
In the first 8 months of 2024, Vietnam's pepper export price increased by 47%, reaching 4,810 USD/ton. The shortage in supply due to the failure to expand pepper growing area in time was the main reason for this price increase.
Domestic pepper prices have also increased, with prices consistently high since the beginning of 2024. Vietnam is currently the world's leading country in pepper production and export, accounting for 40% of the harvest output and 60% of the global export market share. Vietnamese pepper and spices have been exported to more than 120 countries and territories, dominating many important markets around the world.
According to the Vietnam Commodity Exchange (MXV), if pepper prices remain above VND100,000/kg, Vietnam can achieve its export target of over US$1 billion in 2024. The shortage of both domestic and international supplies, which cannot be resolved immediately, helps pepper prices remain high, thereby increasing export turnover despite a decrease in export volume.