Pepper price on October 8, 2024, in the Southeast and the Central Highlands is around 146,000 – 147,000 VND/kg. On average, in key growing areas, the price decreased by 500 VND/kg. In some localities, the price is the same as yesterday.
The price of Dak Lak pepper today is 147,000 VND/kg, down 500 VND/kg compared to yesterday. The price of Chu Se pepper (Gia Lai) is 146,000 VND/kg, a decrease of 500 VND/kg. Dak Nong pepper costs 147,000 VND/kg, also down 500 VND/kg.
In Ba Ria-Vung Tau, the price is currently 146,500 VND/kg, down 500 VND/kg compared to yesterday. In Binh Phuoc, the price of pepper remains 147,000 VND/kg as yesterday.
Pepper prices continue to decrease.
At the end of the last trading session, the IPC listed the price of Indonesia’s Lampung black pepper at 6,702 USD/ton and Muntok white pepper price at 8,961 USD/ton.
Brazil’s ASTA 570 black pepper price is 6,850 USD/ton. Malaysia’s ASTA black pepper price remains 8,900 USD/ton; the country’s ASTA white pepper price is 11,400 USD/ton.
The price of Vietnam‘s black pepper remains stable at 6,800 USD/ton for 500 g/l and 7,100 USD/ton for 550 g/l. Meanwhile, the price of white pepper remains at 10,150 USD/ton.
In September, Vietnam exported 17,707 tons of pepper, worth 110.5 million USD. Compared to last month, export volume decreased by 8.8%, and value decreased by 5.4%. However, compared to the same period last year, the volume decreased by 2.2% and the value increased significantly by 63.7%.
In the first 9 months of the year, total pepper exports reached 200,637 tons, worth nearly 990 million USD. Export volume decreased by 2.6% compared to the same period last year, but the value increased by 45%. The average export price reached 4,933 USD/ton, an increase of 49% compared to 2023.
In particular, the average export price in September reached the highest level in nearly 8 years, with 6,239 USD/ton. This result was up 3.8% compared to August and 67.5% compared to September last year. It has helped Vietnam’s pepper exports surpass the target of 170,000 tons set for 2024.
The decrease in exports in September is a sign that domestic pepper supply is declining. The main reason is that farmers still keep the habit of storing pepper, so they do not rush to sell to the market with the dealer selling pepper to have investment capital for the upcoming coffee season. Besides, consumption demand has not increased sharply, causing prices to decrease slightly.
However, Vietnam’s pepper industry has the advantage of high export prices due to scarce supply. This year, the pepper price has increased sharply from 87,000 VND/kg to 150,000 VND/kg, bringing joy to pepper farmers. In contrast, exporters are facing difficulties in buying domestic pepper due to high prices. As a result, they have to import pepper from Brazil and Indonesia.
Pepper inventories from 2023 and imports in 2024 are estimated at 40,000 to 45,000 tons. The amount of pepper available for export by the end of 2024 will be less than in previous years, until the new crop begins in March 2025.
Experts forecast that supply shortages may affect the price of pepper in the near future. However, the strong consumer market in 2024 will promote the industry further.