The pepper price on September 9, 2024, is between 152,000 and 153,000 VND/kg, which is stable compared to yesterday.
Specifically, in Dak Lak and Dak Nong today, pepper is purchased at 153,000 VND/kg. The pepper price in Chu Se (Gia Lai) is 152,000 VND/kg.
Domestic pepper price increased by 3,000 VND/kg in the past week.
In Binh Phuoc, the price of pepper today is 152,000 VND/kg. In Ba Ria-Vung Tau, the price is 153,000 VND/kg.
Generally, in the past week, domestic pepper prices have increased by 3,000 VND/kg.
At the end of the last trading session, the IPC listed the price of Indonesia’s black pepper Lampung at 7,578 USD/ton and Muntok white pepper at 8,923 USD/ton.
The price of Brazil’s black pepper ASTA 570 is 7,500 USD/ton. Malaysia’s black pepper ASTA price reached 8,800 USD/ton, up 3.41%. This country’s ASTA white pepper price reached 10,900 USD/ton.
The price of Vietnam’s black pepper is stable at 6,600 USD/ton for 500 g/l and 7,000 USD/ton for 550 g/l. Meanwhile, the price of white pepper is 9,300 USD/ton.
Strong demand from the Chinese and Middle Eastern markets has caused pepper prices to rise rapidly recently. However, according to statistics of the Vietnam Pepper and Spice Association (VPSA), in August 2024, pepper exports to China were only 329 tons, down 45.7% compared to July 2024.
In the past month, pepper exports to the US hit a record, with 8,474 tons, up 43.3% compared to July and accounting for 43.7% of the export market share.
It is more than a quarter to the end of the year, but the export target of one billion USD set for many years is sure to be reached in 2024. This is a good result for farmers who have grown “black gold.”
Experts said that, currently, Vietnam’s pepper inventory is not much, so in the last months of this year, exports of this product will be lower than in previous years. This situation will last until about March 2025, when the new harvest comes. As a result, the global pepper price is forecast to continue to increase and maintain at a high level until Vietnam enters the new harvest next year.