Pepper prices on 10/19/2024: Dropped by an additional VND 1,000

Pepper prices on October 19 globally

On the global market, pepper prices in Indonesia continue to rise on October 19.

Specifically, Lampung black pepper in Indonesia increased by 0.31%, reaching $ 6,794/ton. Meanwhile, Muntok white pepper from the same country rose by 0.32%, trading at $ 9,302/ton.

In Malaysia, Kuching ASTA black pepper is priced at $ 8,700/ton, while ASTA white pepper is at $ 11,200/ton.

In Brazil, ASTA 570 black pepper is being traded at 6,400/ton.

In Vietnam, exported black pepper (500 g/l) is traded at $ 6,500/ton, while the 550 g/l variety is priced at $ 6,800/ton. Exported white pepper is currently priced at $ 9,500/ton.

World pepper prices today continue to rise slightly in Indonesia, while prices in other countries remain unchanged.

Thus, global pepper prices on 10/19/2024, continue to increase in Indonesia compared to yesterday.

Pepper prices on October 19 domestically

In the domestic market, pepper prices on October 19 dropped by VND 1,000 compared to yesterday.

Specifically, Dak Lak is buying pepper at VND 143,500/kg;

In Dak Nong, pepper prices have fallen to VND 143,500/kg;

In Gia Lai, pepper is trading at VND 143,000/kg;

In Dong Nai, traders are purchasing pepper at just VND 142,500/kg;

In Ba Ria - Vung Tau, prices have dropped to VND 143,000/kg;

Meanwhile, in Binh Phuoc, traders are now buying pepper at VND 143,000/kg.

Domestic pepper prices today continue to decline, bringing this agricultural product below the VND 144,000/kg mark.

According to data from the General Department of Customs, in the first nine months, Vietnam's pepper exports brought in over $ 1 billion, with export value increasing by 47%. Statistics from the Vietnam Pepper and Spice Association show a slightly lower figure, but they also indicate that the target of $ 1 billion in exports has been achieved ahead of schedule.

Currently, pepper prices hover around the VND 145,000/kg mark. Experts warn that if prices breach the VND 140,000/kg level, it could trigger a sell-off leading to a sharp decline.

However, the actual amount of pepper left in stock among large enterprises and traders is not significant, and the stock held by households is also less than in previous years. Companies are hoarding pepper to hedge against a late harvest next year, while farmers hope for prices to continue rising.

Thus, domestic pepper prices on 10/19/2024, are trading around VND 142,500 - 143,500/kg.

$ 1 = VND 24.950 - Source: Vietcombank.