Sharp increase to 2,200 VND/kg, 140,000 VND mark is established

Pepper price today, November 10, 2024, in the Southeast region increased from 1,000 - 2,200 VND/kg in most key regions, trading around 139,500 - 141,200 VND/kg; the highest purchase price in Dak Nong province.

Accordingly, Dak Lak pepper price was purchased at 141,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 140,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 141,200 VND/kg, an increase of 2,200 VND/kg compared to yesterday.

Pepper price today November 10, 2024: Strong increase to 2,200 VND/kg, the 140,000 VND mark is established

In the Southeast region, pepper prices today fluctuated compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 139,500 VND/kg, an increase of 1,500 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is currently at 140,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday.

Thus, domestic pepper prices increased today in all key growing areas. The highest pepper price is at 141,200 VND/kg.

World pepper prices 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 6,706 USD/ton, and the price of Muntok white pepper at 9,180 USD/ton.

The price of Brazilian ASTA 570 black pepper is at 6,300 USD/ton. The price of Malaysian ASTA black pepper is at 8,500 USD/ton; the price of this country's ASTA white pepper is at 11,000 USD/ton.

Specifically, the price of Vietnamese black pepper remained stable, trading at US$6,500/ton for the 500 g/l variety; US$6,800/ton for the 550 g/l variety; and the price of white pepper was US$9,500/ton.

According to the Import-Export Department (Ministry of Industry and Trade), pepper prices in the world market in the third quarter remained high, especially in August and September, due to limited supply and high import demand.

By October, pepper prices had fallen due to liquidity needs, causing many people to sell off. In addition, the world supply was supplemented from Brazil and Indonesia, while demand from China was low, affecting global pepper prices.

Despite a sharp decrease compared to the end of September, pepper prices in October remained high. The Import-Export Department forecasts that world pepper prices will tend to decrease slightly in the short term, but not for long due to limited supply and seasonal increase in import demand.

In major markets such as the US, EU and Asia, consumer demand is increasing, but in the Middle East and China it is still quite slow.

The significant reduction in inventories has caused farmers and dealers to limit sales. Currently, Brazil is the second largest producer and exporter of black pepper in the world, accounting for about 17-18% of the global supply. However, Brazil's pepper exports in the 2024 crop year will continue to decline due to low production, marking the third consecutive year of decline.

Meanwhile, Vietnam's new pepper crop in 2025 is expected to be delayed by a month, which could positively support world pepper prices.

Domestic pepper price on November 10, 2024