Pepper prices on 09/14/2024: increase in Dong Nai and Gia Lai

Pepper prices on September 14 globally

Globally, pepper prices on September 14 continued to rise slightly in Indonesia.

Specifically, the price of black pepper from Lampung, Indonesia, increased by 0.04%, reaching $ 7,562/ton. Meanwhile, the price of white pepper from Muntok, Indonesia, rose by 0.04%, standing at $ 9,121/ton.

Black pepper Kuching ASTA from Malaysia is priced at $ 8,800/ton, while white pepper ASTA from the same country is at $ 10,900/ton.

In Brazil, black pepper ASTA 570 is trading at $ 7,500/ton.

In Vietnam, the export price for black pepper 500 g/l is $ 7,100/ton, while the 550 g/l type is priced at $ 7,225/ton. The export of white pepper is currently at $ 10,150/ton.

The global pepper price today continues to rise slightly in Indonesia but remains stable in other countries.

According to the IPC, the global pepper market this week shows positive prospects, with no countries reporting a decline. In India, after two weeks of stagnation, both domestic and international pepper prices have increased this week.

Thus, the world pepper price on 09/14/2024 is rising in Indonesia compared to yesterday.

Pepper prices on September 14 domestically

Domestically, pepper prices on September 14 increased slightly in some areas compared to yesterday.

Specifically, Dak Lak continues to buy pepper at VND 156,000/kg;

Pepper prices in Dak Nong today remain at VND 156,000/kg;

Pepper prices in Gia Lai today increased by VND 1,000, trading at VND 154,000/kg;

Similarly, traders in Dong Nai are purchasing pepper at VND 154,000/kg;

Pepper prices in Ba Ria - Vung Tau today are steady at VND 155,000/kg;

Meanwhile, Binh Phuoc continues to trade pepper at VND 152,000/kg.

Domestic pepper prices today mostly remained stable, with a slight increase of VND 1,000 in Gia Lai and Dong Nai. Currently, the highest pepper price in the country is VND 156,000/kg.

At present, the global demand for organic spices and sustainably certified spices is rising. According to the Vietnam Trade Office in Belgium and the EU, the global organic spice market is quite large and is growing at 7.5% per year from 2021 to 2026. By 2026, the global organic spice market is expected to reach nearly EUR 20 billion.

While Asia is the largest spice import market in the world, North America and the EU are the two largest markets for organic spices. The Vietnam Trade Office in Belgium and the EU notes that in Europe, countries such as Switzerland, the Netherlands, Germany, France, and Italy are major spice importers. Spices with sustainability certifications (organic, Fairtrade, RA) have significant export potential in this market.

Thus, domestic pepper prices on 09/14/2024, are trading around VND 153,000 - 156,000/kg.

$ 1 = VND 24.360 - Source: Vietcombank.