Pepper prices on 09/23/2024: Peaking at VND 151,000/kg

Pepper prices on September 23

Globally, pepper prices today, September 23, saw no new fluctuations.

Accordingly, the price of black pepper from Lampung, Indonesia, remains at $ 7,715/ton, while white pepper from Muntok is priced at $ 9,305/ton.

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

In Brazil, 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.

Today, global pepper prices remain steady. Last week, the pepper market showed mixed trends.

In particular, domestic and international pepper prices in India continued to rise. The strengthening of the Indonesian Rupiah against the USD has positively impacted pepper prices there.

Thus, global pepper prices on 09/23/2024 continued to hold steady compared to yesterday.

Pepper prices on September 23 domestically

In the domestic market, pepper prices on September 23 remained stable compared to yesterday.

Specifically, in Dak Lak, pepper is being purchased at VND 151,000/kg;

In Dak Nong, pepper prices are holding at VND 151,000/kg;

In Gia Lai, pepper is trading at VND 150,000/kg;

Traders in Dong Nai are still purchasing pepper at VND 150,000/kg;

In Ba Ria - Vung Tau, pepper prices are maintained at VND 150,000/kg;

Lastly, traders in Binh Phuoc are trading pepper at VND 150,000/kg.

Domestic pepper prices today showed no new fluctuations, with the highest price at VND 151,000/kg. Over the past week, the domestic pepper market experienced a significant drop, losing between VND 2,000 - 5,000.

Currently, these prices are uplifting for pepper growers in various localities, boosting their spirits ahead of this year’s harvest season.

Experts also predict that domestic pepper prices could exceed VND 160,000/kg before the harvest season in Vietnam. One of the main factors driving this increase is the limited global supply.

Looking at the long term, over the next 3 to 5 years, production levels are unlikely to meet global demand.

Mr. Hoang Phuoc Binh, Vice Chairman of the Chư Sê Pepper Association (Gia Lai), noted that the rapid increase in pepper prices is influenced by speculative factors. As global pepper prices rise and surpass domestic prices, many small dealers are hoarding stock and pushing prices up.

The scarce supply combined with increasing market demand has driven pepper prices back up. Additionally, there are opinions that China’s renewed purchasing activities have significantly impacted this agricultural commodity’s price.

Thus, domestic pepper prices on 09/23/2024, are trading around VND 150,000 - 151,000/kg.

$ 1 = VND 24.410 - Source: Vietcombank.