Positive outlook, Vietnam pepper industry is making steady progress

Pepper price today, September 15, 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.

Pepper price today September 15, 2024: Positive outlook, Vietnam's pepper industry is making steady progress

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.

Thus, domestic pepper prices today recorded stability for the second consecutive day in key localities, fluctuating in the price range of 152,000 - 156,000 VND/kg, the highest price in pepper growing areas in Dak Lak and Dak Nong is 156,000 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.

IPC commented that the pepper market in the second week of September showed a positive outlook, with no market recording a decrease. After being reported stable in the past two weeks, both domestic and international Indian pepper prices are on an upward trend this week.

In the context of high pepper prices and favorable consumption markets, Vietnam's pepper export turnover is likely to exceed 1 billion USD this year, marking the return of this spice after 6 years of absence from the group of billion-dollar items.

With positive signals from the market and the efforts of businesses, the Vietnamese pepper industry is making steady progress. However, to maintain this growth momentum, businesses need to proactively adapt to market fluctuations, improve product quality and expand consumption markets.

According to Phuoc Thinh Import Export Joint Stock Company (Ptexim), last weekend (Saturday and Sunday), demand from China increased sharply, making the market more active. This helped domestic pepper prices this week continue to be positively affected and increase from the beginning of the week.

Along with the domestic market's upward trend, despite a recent downward adjustment, Vietnam's pepper export prices still increased during the week. The highest increase was for white pepper, currently above the 10,000 USD/ton mark.

Since the beginning of the month, demand from China has returned with immediate orders of 3,000-4,000 tonnes, to make up for the raw material shortage as global pepper production is expected to continue to decline over the next few years. The Middle East market has also seen a relatively large demand for orders, immediately after selling off cheaper imported stocks earlier this year.

Domestic pepper price on September 15 , 2024