Pepper prices on 09/15/2024: Strong increase this week

Pepper prices on September 15 globally

Globally, pepper prices on September 15 show no new fluctuations.

Specifically, the price of black pepper from Lampung, Indonesia remains at $ 7,562/ton, while the price of white pepper from Muntok, Indonesia stays at $ 9,121/ton.

The price of Kuching ASTA black pepper from Malaysia is $ 8,800/ton, and white pepper ASTA from Malaysia is priced at 10,900/ton.

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

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

Global pepper prices remain stable today. This week, the global pepper market has shown positive growth with no country reporting a decline. In particular, domestic and international pepper prices in India have both rebounded after two weeks of stagnation.

According to experts, this week’s rise in pepper prices is due to increased demand from the Chinese and Middle Eastern markets. The weakening USD, amid expectations of the Fed cutting interest rates, has also supported commodity prices in general, including pepper.

Additionally, concerns about supply shortages continue to plague the market. According to Globo, drought in Espirito Santo (Brazil) has affected both coffee and pepper farmers in the state.

The current black pepper crop has been damaged by 50% due to high summer temperatures, and this situation is expected to persist into autumn and winter. The pepper berries have fallen prematurely, and farmers are reporting that this year’s harvest will be very limited.

In Vietnam, a recent independent survey indicates that next year’s harvest could also be delayed due to weather conditions.

Thus, global pepper prices on 09/15/2024, remain unchanged compared to yesterday.

Pepper prices on September 15 domestically

Domestically, pepper prices on September 15 remain stable compared to yesterday.

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

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

Pepper prices in Gia Lai are trading at VND 154,000/kg;

Traders in Dong Nai continue to buy pepper at VND 154,000/kg;

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

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

Domestic pepper prices today show no new fluctuations, with the highest level reaching VND 156,000/kg.

Summing up this week, the domestic pepper market has surged by an additional VND 2,000 - 3,000. Compared to the beginning of September, pepper prices have spiked by up to VND 10,000/kg (with Binh Phuoc alone rising by VND 7,000).

Thus, on 09/15/2024, domestic pepper prices are trading in the range of VND 152,000 - 156,000/kg.

$ 1 = VND 24.360 - Source: Vietcombank.