Pepper export prices skyrocket, domestic prices remain high

Pepper price today, September 12, 2024, in key areas, increased from 500 - 1,000 VND/kg, trading around 152,000 - 156,000 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces is 156,000 VND/kg.

Accordingly, Dak Lak pepper price is purchased at 156,000 VND/kg, an increase of 500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is purchased at 153,000 VND/kg, stable compared to yesterday. Dak Nong pepper price today is at 156,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday.

Pepper price today September 12: Export pepper price increases rapidly, domestic price remains high

In the Southeast region, pepper prices today remained stable compared to yesterday. Specifically, in Binh Phuoc, pepper prices today remained at 152,000 VND/kg. In Ba Ria - Vung Tau, it was at 155,000 VND/kg, stable compared to yesterday.

Thus, pepper prices today increased sporadically from 500 - 1,000 VND/kg in the Central Highlands region, fluctuating in the price range of 152,000 - 156,000 VND/kg, the highest in pepper growing areas in Dak Lak and Dak Nong is 156,000 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 7,557 USD/ton, up 0.2%, and the price of Muntok white pepper at 9,115 USD/ton, up 0.21%.

The price of Brazilian ASTA 570 black pepper remained at $7,400/ton. The price of Malaysian ASTA black pepper was at $8,800/ton; the price of this country's ASTA white pepper reached $10,900/ton.

Vietnam's black pepper price was traded at 7,100 USD/ton for 500 g/l, up 7.04%; 550 g/l at 7,225 USD/ton, up 3.11%; white pepper price at 10,150 USD/ton, up 8.37%.

A sharp rise in pepper imports in India coupled with reports of higher inventories has dragged down black pepper prices by Rs 14 per kg in the three weeks to end-August 2024.

According to the Indian Pepper and Spice Trade Association (IPSTA), the quantity of pepper offered in Kochi ranges from 20 to 25 tonnes per day, mostly imported pepper.

Most of the consuming markets in India are flooded with imported pepper with quality issues such as high moisture, low bulk density and mold, forcing distributors to liquidate their stocks at discounted prices. Meanwhile, the demand during the festive season has not picked up in the northern markets due to unfavourable weather conditions, which have caused heavy rains in most consuming states, reducing purchasing power.

According to data from the General Statistics Office (GSO), Vietnam's pepper exports in the first 8 months of 2024 reached 877 million USD, an increase of 42.6% over the same period last year, with pepper exports reaching 183,000 tons, down 3% over the same period in 2023.

Domestic pepper price on September 12 , 2024