Pepper prices have gradually increased.

Pepper price today, September 22, 2024, in key regions increased and decreased by 1,000 VND/kg compared to yesterday and traded around 149,000 - 151,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces was 151,000 VND/kg.

Accordingly, Dak Lak pepper price is purchased at 151,000 VND/kg, down 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is purchased at 150,000 VND/kg, up 1,000 VND/kg compared to yesterday. Dak Nong pepper price today is at 151,000 VND/kg, up 1,000 VND/kg compared to yesterday.

Pepper price today September 22, 2024: Pepper price has gradually increased

In the Southeast region, pepper prices today increased by 1,000 VND/kg compared to yesterday. Specifically, in Binh Phuoc , pepper prices today are at 150,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is at 149,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday.

Thus, after a day of uniform increase in all localities, domestic pepper prices today fluctuated in opposite directions, increasing and decreasing by 1,000 VND/kg in key localities for the second consecutive day. The highest pepper price was at 151,000 VND/kg.

World pepper price today

Update on world pepper prices from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 7,715 USD/ton, and the price of Muntok white pepper at 9,305 USD/ton.

The price of Brazilian ASTA 570 black pepper is at 6,900 USD/ton. The price of Malaysian ASTA black pepper is at 8,800 USD/ton; the price of this country's ASTA white pepper is at 11,200 USD/ton.

Vietnam black pepper price is traded at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; white pepper price at 10,150 USD/ton.

The US Federal Reserve's monetary policy has been adjusted after four years, affecting not only the US economy but also opening up opportunities for industries, including Vietnam's pepper industry.

The reduction of the basic interest rate to 0.5%, currently at 4.75-5%, has boosted consumer demand in the US and increased pepper exports from Vietnam to this market. This interest rate reduction is expected to have a major impact on the global pepper market.

Some experts believe that signs of supply shortage compared to demand will continue to be recorded and reflected in the market in the coming time until the crop season.

According to data from the General Department of Vietnam Customs, Vietnam's pepper exports in the first half of September 2024 reached 7,278 tons, worth 45.4 million USD, up 1.1% in volume and up 72.4% in value over the same period last year.

Accumulated from the beginning of the year to September 15, 2024, pepper exports reached 190,208 tons, worth 923.3 million USD, down 2.5% in volume but up 44% in value over the same period. Indonesia and Brazil are still the two main pepper suppliers to Vietnam with volumes reaching 359 tons and 245 tons, respectively.

Domestic pepper price on September 22, 2024