Pepper prices on 09/24/2024: Increases by up to VND 2,500

Pepper prices on September 24 globally

Globally, pepper prices on September 24 showed mixed trends in Indonesia.

Specifically, the price of black pepper from Lampung, Indonesia, dropped sharply by 11.54%, falling to $ 6,917/ton. Meanwhile, the price of white pepper from Muntok in the same country increased by 0.98%, reaching $ 9,397/ton.

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

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

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

World pepper prices today saw a sharp decline in white pepper from Indonesia but a solid increase in black pepper. Meanwhile, other countries maintained the same levels of trade as yesterday.

Thus, global pepper prices on 09/24/2024 showed mixed trends in Indonesia compared to the previous day.

Pepper prices on September 24 domestically

Domestic pepper prices on September 24, increased sharply compared to yesterday.

Specifically, Dak Lak purchased pepper at VND 153,500/kg (up to VND 2,500);

Dak Nong's pepper price remained at VND 153,000/kg (up VND 2,000);

Gia Lai's pepper traded at VND 152,000/kg (up VND 2,000);

Traders in Dong Nai continued to buy pepper at VND 151,500/kg (up VND 1,000);

Ba Ria - Vung Tau's pepper price held steady at VND 151,500/kg (up VND 1,500);

Traders in Binh Phuoc traded pepper at VND 151,500/kg (up VND 1,500).

Domestic pepper prices today have risen sharply by VND 1,500 - 2,500, gradually bringing this agricultural product back toward the VND 154,000/kg mark.

A recent report from Simexco Daklak states that domestic pepper prices in Vietnam have started to rise again after several weeks of stable trading. Additionally, transportation costs have shown signs of decreasing, boosting pepper export activities.

According to Simexco Daklak, global pepper production in 2024 is projected to reach around 465,000 tons, a 1.2% decrease compared to last year. Meanwhile, global demand for pepper is expected to hit 529,000 tons, surpassing production by 64,000 tons. This imbalance is driving down pepper stockpiles to 428,000 tons, the lowest level in six years.

In Vietnam, although pepper prices are forecasted to increase, pepper farms in the Central Highlands and Southeastern provinces are facing significant competition from other crops, particularly durian. Vietnam's 2024 pepper output is estimated to decrease by 10-15%, reaching only around 160,000-170,000 tons.

Thus, domestic pepper prices on 09/24/2024, are trading around VND 151,500 - 153,500/kg.

$ 1 = VND 24.420 - Source: Vietcombank.