Pepper price today November 3, 2024: Dak Nong pepper price decreased by 200 VND/kg
Pepper price today November 3, 2024 is around 140,000 - 141,000 VND/kg, today only pepper price in Dak Nong decreased by 200 VND/kg compared to yesterday but still the highest in the country.
Domestic pepper price on November 3, 2024
Specifically, Dak Lak pepper price was purchased at 141,000 VND/kg, stable compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 140,000 VND/kg, stable compared to yesterday. Dak Nong pepper price today was recorded at 141,200 VND/kg.
In the Southeast region, pepper prices today are stable compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 141,000 VND/kg, stable compared to yesterday; in Binh Phuoc, pepper prices today are at 140,000 VND/kg.
| Province/district (survey area) | Purchase price (Unit: VND/kg) | Change from yesterday (Unit: VND/kg) |
| Dak Lak | 141,000 | - |
| Gia Lai | 140,000 | - |
| Dak Nong | 141,000 | -200 |
| Ba Ria - Vung Tau | 141,000 | - |
| Binh Phuoc | 140,000 | - |
| Dong Nai | 141,000 | - |
At the end of October 2024, domestic pepper prices decreased by an average of VND7,000/kg. According to data from the International Pepper Community (IPC), in the same month, Vietnam's pepper export prices also decreased by USD300/ton, while pepper prices in other countries also showed a similar downward trend.
Pepper prices are under downward pressure as agricultural companies, agents and intermediaries are actively selling. They are mainly doing this due to liquidity needs, as sellers want to raise capital to invest in coffee, an agricultural product in the harvest season.
According to the Ministry of Agriculture and Rural Development, in the first 10 months of 2024, pepper was the agricultural product with the strongest export growth, reaching 1.12 billion USD, up 48% over the same period last year. However, in the short term, the pepper market may continue to fluctuate with prices remaining stable or decreasing slightly due to limited supply and consumption demand not yet strongly recovered. In the long term, when the global economy is more stable, the pepper market is likely to recover and develop.
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 6,683 USD/ton, and the price of Muntok white pepper at 9,150 USD/ton.
The price of Brazilian ASTA 570 black pepper was at USD 6,400/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.
During the period from April to September, Vietnam’s traditional markets such as the US, Europe and Asia imported a large amount of pepper. However, many customers did not rush to increase their purchases but chose to wait for signals from the market to avoid risks.
In addition, the domestic consumption market has decreased, and especially the Chinese market, a large market, has reduced the amount of pepper imported from Vietnam by more than 80% compared to 2023. This situation has contributed to the fact that pepper prices have not increased as strongly as forecast.
The pepper market has seen mixed reactions in early November. Although Indian pepper prices have been falling for the past month, this week both domestic and international pepper prices have been on an upward trend due to the Diwali festival in India. On the other hand, the weakening of the Indonesian Rupiah has led to a fall in pepper prices in this country.