Domestic pepper prices unexpectedly drop

Domestic pepper price on September 18, 2024

Specifically, Dak Lak pepper price was purchased at 155,000 VND/kg, stable compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 153,000 VND/kg, slightly down 1,000 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 155,000 VND/kg.

In the Southeast region, pepper prices today have dropped sharply in some localities compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 152,000 VND/kg, down sharply by 3,000 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 152,000 VND/kg.

Domestic pepper price list September 18, 2024

Province/district (survey area)	Purchase price (Unit: VND/kg)	Change from yesterday (Unit: VND/kg)
Dak Lak	155,000	-
Gia Lai	153,000	-1,000
Dak Nong	155,000	-
Ba Ria - Vung Tau	155,000	-3,000
Binh Phuoc	152,000	-
Dong Nai	155,000	-

Pepper exports have already exceeded last year’s output in the first eight months of 2024, even though the harvest season is only four months away. The surge has raised concerns that pepper supplies could be tight later in the year.

The 2025 pepper crop is expected to start harvesting mainly in February, with some areas possibly extending to March and April. This is one to two months later than previous years, due to the impact of the prolonged drought.

This week, experts predict that the market will be influenced by the decision of the US Federal Reserve (FED) to reduce interest rates from 0.25% to 0.5% at the upcoming policy meeting on September 19.

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 7,562 USD/ton, and the price of Muntok white pepper at 9,121 USD/ton.

Brazilian ASTA 570 black pepper prices were at $7,000/ton (down 4.1%). Malaysian ASTA black pepper prices remained stable at $8,800/ton; the country’s ASTA white pepper prices reached $10,900/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.

The recent weakness of the US dollar, partly due to news of interest rate cuts, has facilitated the recovery of commodity markets, including pepper. Globally, the International Pepper Community (IPC) has also not recorded any price reductions from its member countries in the past week.

Source: https://baodaknong.vn/gia-tieu-hom-nay-18-9-2024-gia-tieu-noi-dia-bat-ngo-giam-229491.html