Output down and inventory low, pepper exports continue to benefit

Pepper price today, September 26, 2024, in important regions decreased by 1,000 - 3,000 VND/kg compared to yesterday and traded around 149,000 - 150,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces was 150,000 VND/kg.

Accordingly, Dak Lak pepper price is purchased at 150,000 VND/kg, down 3,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is purchased at 149,000 VND/kg, down 3,000 VND/kg compared to yesterday. Dak Nong pepper price today is at 150,000 VND/kg, down 2,000 VND/kg compared to yesterday.

Pepper price today September 26, 2024: Production decreased and inventory low, pepper exports continue to benefit

In the Southeast region, pepper prices today decreased by 1,000 - 2,000 VND/kg compared to yesterday. Specifically, in Binh Phuoc , pepper prices today are at 149,000 VND/kg, down 1,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is at 149,000 VND/kg, down 2,000 VND/kg compared to yesterday.

Thus, domestic pepper prices today decreased by 1,000 - 3,000 VND/kg in key localities. The highest pepper price was recorded at 150,000 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 6,963 USD/ton, up 0.62%, and the price of Muntok white pepper at 9,458 USD/ton, up 0.61%.

The price of Brazilian ASTA 570 black pepper was at $6,750/ton, down 2.22%. The price of Malaysian ASTA black pepper was at $8,800/ton; the price of this country's ASTA white pepper reached $11,200/ton.

Vietnam's black pepper price remains stable 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 Import-Export Department (Ministry of Industry and Trade) forecasts that world pepper prices will remain high in the short term due to limited supply. Brazil and Indonesia are in the harvest season, while world demand is not increasing strongly, along with China not buying much, leading to only a slight increase in prices.

In the long term, pepper export prices will remain supported due to the expected decrease in Vietnam's pepper output in the 2025 crop. Vietnam's 2025 pepper crop is expected to be harvested almost entirely in February, with some regions extending to March and April, 1-2 months later than previous years, due to the impact of prolonged drought, making pepper supply increasingly difficult.

At the same time, the Import-Export Department forecasts that the Vietnamese pepper industry will benefit from high export prices due to limited supply. According to the Vietnam Pepper and Spice Association (VPSA), the amount of pepper in the population is almost gone, only remaining in agents and warehouses of enterprises.

The inventory from the 2023 crop carried over, plus the import volume in 2024, is about 40,000 - 45,000 tons (including informal imports), showing that the export source until the end of the year will be lower than every year and until March 2025 when the 2025 crop is expected to be harvested.

Figures from the General Department of Customs show that in the first 8 months of the year, Vietnam's pepper exports reached 182.93 thousand tons, worth 877.98 million USD, down 2.7% in volume, but up 42.8% in value over the same period in 2023 thanks to high prices.

Domestic pepper price on September 26, 2024