Mixed increase and decrease, world pepper price stable

Domestic pepper price on September 21, 2024

Specifically, Dak Lak pepper price was purchased at 152,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 149,000 VND/kg, a slight increase of 500 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 150,000 VND/kg.

In the Southeast region, pepper prices today decreased sharply compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 149,000 VND/kg, a sharp decrease of 1,000 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 149,000 VND/kg.

Domestic pepper price list September 21, 2024

Province/district (survey area)	Purchase price (Unit: VND/kg)	Change from yesterday (Unit: VND/kg)
Dak Lak	152,000	+1,000
Gia Lai	149,000	+500
Dak Nong	150,000	-1,000
Ba Ria - Vung Tau	149,000	-1,000
Binh Phuoc	149,000	-1,000
Dong Nai	149,000	-1,000

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.

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 7,589 USD/ton, and the price of Muntok white pepper at 9,154 USD/ton.

The price of Brazilian ASTA 570 black pepper was at USD 7,000/ton. The price of Malaysian ASTA black pepper remained stable at USD 8,800/ton; the price of this country's ASTA white pepper reached USD 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.

In the first half of September 2024, Vietnam recorded the export of 6,917 tons of pepper, with a total value of up to 42.3 million USD.

Regarding imports, Vietnam purchased 706 tons of pepper, with a total import value of 3.7 million USD. The top three companies in pepper imports included Olam Vietnam, Tran Chau and Phuc Thinh, with imports of 149 tons, 109 tons and 105 tons, respectively.

Indonesia and Brazil continued to be the two key pepper suppliers to Vietnam, with imports reaching 359 tons and 245 tons respectively. Compared to the previous month, Vietnam's pepper exports decreased significantly, by about 30%, contributing to the decrease in domestic pepper prices in the last three trading sessions.

Source: https://baodaknong.vn/gia-tieu-hom-nay-21-9-2024-tang-giam-trai-chieu-gia-tieu-the-gioi-on-dinh-229765.html