Pepper prices on 09/19/2024: Continue to drop sharply

Pepper prices on September 19 globally

Globally, pepper prices on September 19 showed slight declines in Indonesia.

Specifically, the price of black pepper from Lampung, Indonesia, dropped by 0.08% to $ 7,589/ton. Meanwhile, the price of white pepper from Muntok, Indonesia, also decreased by 0.08%, reaching $ 9,154/ton.

In Malaysia, Kuching ASTA black pepper is priced at $ 8,800/ton, while ASTA white pepper is at $ 10,900/ton.

In the Brazilian market, black pepper ASTA 570 is trading at $ 7,000/ton.

In Vietnam, black pepper for export (500 g/l) is trading at $ 7,100/ton, while the 550 g/l type is priced at $ 7,225/ton. White pepper for export is currently at $ 10,150/ton.

Global pepper prices on 09/19/2024, turned down in Indonesia but remained stable in other countries.

Indonesia's key pepper export markets include China, Vietnam, the US, and India.

Vietnam is the second-largest customer of Indonesia's pepper industry in the first seven months of the year, with a volume reaching 4,492 tons, nearly doubling (98% increase) compared to the same period last year, accounting for nearly 20% of Indonesia's total pepper exports. The import price stood at $ 4,430/ton, up 3.6%.

Meanwhile, China remained Indonesia's largest pepper export market, with a volume of 4,844 tons, a sharp increase of 63.1% compared to the same period last year, accounting for 21.2% of the market share.

In addition, Indonesia's pepper exports to other major markets also surged in the first seven months of the year, including the US (+64.5%), India (+15.9%), Japan (+17.6%), and Singapore (+123.1%).

This year, Indonesia’s harvest was expected to take place in August (later than the usual July), but the yield outlook remains unfavorable.

Thus, global pepper prices on 09/19/2024, have turned down in Indonesia compared to yesterday.

Pepper prices on 09/19/2024 domestically

In the domestic market, pepper prices on September 19 dropped sharply by up to VND 5,000 compared to the previous day.

Specifically, Dak Lak saw a decrease of VND 4,500, with pepper being purchased at VND 150,500/kg.

In Dak Nong, prices dropped by VND 5,000, falling to VND 150,000/kg.

Pepper prices in Gia Lai fell to VND 148,000/kg, down by VND 4,000.

Similarly, traders in Dong Nai bought pepper at VND 148,000/kg.

Prices in Ba Ria - Vung Tau dropped to VND 148,000/kg, down by VND 4,000.

In Binh Phuoc, prices also fell by VND 4,000, with pepper trading at VND 148,000/kg.

Domestic pepper prices today continue to decline sharply, dropping by an additional VND 4,000 - 5,000, pulling the agricultural product down to the range of VND 150,000/kg.

Thus, domestic pepper prices on 09/19/2024, are trading around VND 148,000 - 150,500/kg.

$ 1 = VND 24.410 - Source: Vietcombank.