Pepper prices on 10/22/2024: Increasing to VND 145,000/kg

Pepper prices on October 22 globally

Globally, pepper prices remained mostly stable on October 22. Black pepper from Lampung, Indonesia, saw a slight increase of 0.01%, rising to $ 6,795/ton. Meanwhile, white pepper from Muntok, Indonesia, remained steady at $ 9,302/ton.

In Malaysia, Kuching black pepper ASTA was priced at $ 8,700/ton, and white pepper ASTA stood at $ 11,200/ton.

In Brazil, black pepper ASTA 570 was traded at $ 6,400/ton.

In Vietnam, export prices for black pepper 500 g/l stood at $ 6,500/ton, while 550 g/l was priced at $ 6,800/ton. White pepper exports from Vietnam were at $ 9,500/ton.

Global pepper prices today saw a slight increase in Indonesian black pepper, while other markets remained stable.

Thus, the global pepper price on 10/22/2024, showed little fluctuation compared to the previous day.

Pepper prices on October 22 domestically

Domestically, pepper prices saw a general increase compared to the previous day.

In Dak Lak, the price rose by VND 500, with pepper being bought at VND 145,000/kg.

Similarly, Dak Nong saw prices reach VND 145,000/kg.

In Gia Lai, pepper prices increased by VND 1,000, reaching VND 144,000/kg.

Traders in Dong Nai bought pepper at VND 143,500/kg, also up by VND 1,000.

In Ba Ria - Vung Tau, prices increased by VND 500 to VND 144,000/kg.

In Binh Phuoc, traders bought pepper at VND 144,000/kg, a VND 1,000 increase.

Domestic pepper prices increased by VND 500 - 1,000 today, pushing this agricultural product to the VND 145,000/kg mark.

According to the Vietnam Pepper Association (VPSA), China used to be the second-largest market for Vietnamese pepper but has now fallen to fifth place, behind the US, Germany, India, and the UAE.

In the first seven months of 2024, Vietnam’s pepper exports to China reached over 8,000 tons, a decrease of 84.6% compared to the same period last year.

Businesses attribute China’s reduced purchasing to the fact that its domestic pepper prices are lower than imported prices. Additionally, the world’s second-largest economy grew slower than expected in the first half of this year, leading to reduced consumer demand and sufficient stockpiles.

Despite China buying less, Vietnam's total pepper exports still reached 164,357 tons in the first seven months of the year, down about 2.2% year-on-year.

Thus, domestic pepper prices on 10/22/2024, are trading in the range of VND 143,500 - 145,000/kg.

$ 1 = VND 25.062 - Source: Vietcombank.