Pepper price today October 3, 2024: Slight increase of 500 VND/kg

Domestic pepper price on October 3, 2024

Specifically, Dak Lak pepper price was purchased at 149,000 VND/kg, stable compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 147,500 VND/kg, slightly increased by 500 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 148,500 VND/kg.

In the Southeast region, pepper prices today are stable compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 148,000 VND/kg, unchanged from yesterday; in Binh Phuoc, pepper prices today are at 149,000 VND/kg.

Province/district (survey area)	Purchase price (Unit: VND/kg)	Change from yesterday (Unit: VND/kg)
Dak Lak	149,000	-
Gia Lai	147,500	+500
Dak Nong	148,500	+500
Ba Ria - Vung Tau	148,000	-
Binh Phuoc	149,000	-
Dong Nai	148,000	-

Mr. Phan Minh Thong, Chairman of the Board of Directors of Phuc Sinh Company, said that the Vietnamese pepper industry is benefiting from high export prices and scarce supply. This year, pepper prices have skyrocketed from VND87,000/kg to VND150,000/kg, a great benefit for farmers.

Pepper exporters have had difficulty buying domestic pepper due to high prices, forcing Phuc Sinh to import from Brazil and Indonesia. Farmers hold onto pepper for speculation, and falling output combined with drought has further limited supply.

After a decade, Vietnam's pepper exports returned to a billion-dollar turnover. In 2024, Vietnam's pepper exports reached 1.2 billion USD and the highest price was in 2015 at 230 million VND/ton. Since 2016, pepper prices have decreased, and export revenue in the following years has only remained at 700-800 million USD.

World pepper price today

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,892 USD/ton (down 0.68%), and the price of Muntok white pepper at 9,278 USD/ton (down 0.67%).

The price of Brazilian ASTA 570 black pepper was at USD 6,700/ton (down 0.74%). The price of Malaysian ASTA black pepper remained stable at USD 8,900/ton; the price of this country's ASTA white pepper reached USD 11,400/ton.

Vietnamese black pepper prices today are stable at a high level, trading at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; white pepper prices at 10,150 USD/ton.

Source: https://baodaknong.vn/gia-tieu-hom-nay-3-10-2024-tang-nhe-500-dong-kg-230756.html