Pepper price today September 28, 2024: Price decreased sharply for 4 consecutive days
Pepper price today September 28, 2024 is in the range of 146,000 - 148,000 VND/kg, pepper price continues to decrease sharply by 1,000 to 3,000 VND/kg compared to yesterday. Domestic pepper price has decreased for the 4th consecutive day.
Domestic pepper price on September 28, 2024
Specifically, Dak Lak pepper price was purchased at 147,000 VND/kg, down 2,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 147,000 VND/kg, down 1,000 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 146,000 VND/kg.
In the Southeast region, pepper prices today decreased slightly by 1,000 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 147,000 VND/kg, down 1,000 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 148,000 VND/kg.
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 147,000 | -2,000 |
| Gia Lai | 147,000 | -1,000 |
| Dak Nong | 146,000 | -3,000 |
| Ba Ria - Vung Tau | 147,000 | -1,000 |
| Binh Phuoc | 148,000 | 0 |
| Dong Nai | 147,000 | -1,000 |
The global economy is unstable with high inflation, rising interest rates and political conflicts. Concerns about a broader economic crisis are growing. In this context, pepper imports have decreased as importers are cautious and do not buy much to avoid risks.
Another reason for the drop in pepper prices is low demand and increased supply from Indonesia and Brazil. Major importing countries such as the US, China and the EU are reducing their pepper purchases.
In addition, some comments said that investment capital may be shifting from pepper to coffee due to the upcoming coffee harvest season in Vietnam. Arabica and robusta coffee prices are rising and setting new records in London and New York.
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 6,927 USD/ton (up 0.10%), and the price of Muntok white pepper at 9,409 USD/ton (down 0.52%).
The price of Brazilian ASTA 570 black pepper was at USD 6,750/ton (up 2.27%). The price of Malaysian ASTA black pepper remained stable at USD 8,800/ton; the price of this country's ASTA white pepper reached USD 11,200/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 the first 7 months of the year, the European Union (EU) imported 37.94 thousand tons of pepper, worth 179.54 million EUR, up 31.6% in volume and 45% in value over the previous year. Vietnam was the largest pepper supplier to the EU, with 24.88 thousand tons, worth 112.5 million EUR, up 38.9% in volume and 58.1% in value over the same period last year.
Vietnam's pepper market share in the EU's total imports will increase from 62.16% to 65.58% from 2023 to 2024. The EU will also increase pepper imports from other markets, such as Brazil, by 19.4%, reaching more than 6 thousand tons.
The Import-Export Department said that Vietnamese pepper still has an advantage in the EU market thanks to its quality and competitive price. To increase export value, Vietnam needs to focus on producing organic pepper to meet global demand and the EU market.