Black pepper prices in the domestic market increased for 4 consecutive weeks

Pepper price today, September 16, 2024, in key regions maintained a sideways trend compared to yesterday, trading around 152,000 - 156,000 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces was 156,000 VND/kg.

Accordingly, the price of Dak Lak pepper was purchased at 156,000 VND/kg, stable compared to yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 154,000 VND/kg, stable compared to yesterday.

In the Southeast region, pepper prices today remain stable compared to yesterday. Specifically, in Binh Phuoc, pepper prices today remain at 152,000 VND/kg. In Ba Ria - Vung Tau, it is at 155,000 VND/kg, stable compared to yesterday.

Pepper price today September 16, 2024: Black pepper price in the domestic market increased for 4 consecutive weeks

Thus, after a slight increase, domestic pepper prices remained unchanged for the second consecutive day in key localities. The highest pepper price remained at 156,000 VND/kg.

At the end of last week, pepper prices in key regions fluctuated between 152,000 - 156,000 VND/kg, an increase of 2,000 - 3,000 VND/kg compared to the beginning of the week.

Black pepper prices in Vietnam's domestic market have increased continuously in the past 4 weeks, with a total increase of about 10.5 - 12.5% (equivalent to 14,500 - 17,500 VND/kg) compared to mid-August.

Thus, since the beginning of the month, domestic pepper prices have maintained a good upward trend. Compared to September 1, 2024, pepper prices increased by about 10,000 VND/kg in the provinces, except for Binh Phuoc province, which only increased by about 7,000 VND/kg.

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 7,562 USD/ton, and the price of Muntok white pepper at 9,121 USD/ton.

The price of Brazilian ASTA 570 black pepper remained at USD 7,400/ton. The price of Malaysian ASTA black pepper was at USD 8,800/ton; the price of this country's ASTA white pepper reached USD 10,900/ton.

Vietnam's black pepper price is trading at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; white pepper price at 10,150 USD/ton.

According to the Vietnam Pepper and Spices Association (VPSA), the inventory from the 2023 crop carried over plus the import volume in 2024 is about 40,000 - 45,000 tons (including unofficial imports), showing that the export source until the end of the year will be lower than every year and until March 2025 when the 2025 crop is expected to be harvested.

In Brazil, under ideal conditions, the harvest in southern Brazil (Esperito Santo and Bahia) could easily exceed 100,000 tonnes. However, due to unusual weather conditions, some forecasts suggest that this year’s harvest will be around 65,000 tonnes.

Indonesia recorded more inventories in the market, after some major producing regions completed the harvest.

With positive signals from the market and the efforts of businesses, the Vietnamese pepper industry is making steady progress.

Domestic pepper price on September 16, 2024