With volatile export markets, pepper exports to China have decreased sharply.

Today, October 11, 2024, pepper prices in key producing regions have reversed course and decreased by 1,000 VND/kg compared to yesterday, trading around 145,000 - 147,000 VND/kg. The highest purchase price is in Dak Lak and Dak Nong provinces at 147,000 VND/kg.

Accordingly, the price of pepper in Dak Lak is being purchased at 147,000 VND/kg, a decrease of 1,000 VND/kg compared to yesterday. The price of pepper in Chu Se (Gia Lai) is being purchased at 146,000 VND/kg, remaining stable compared to yesterday. The price of pepper in Dak Nong today is recorded at 147,000 VND/kg, a decrease of 1,000 VND/kg compared to yesterday.

In the Southeast region, pepper prices today (October 11, 2024) mainly fluctuated compared to yesterday. Specifically, in Ba Ria - Vung Tau, the price is currently at 146,500 VND/kg, a decrease of 1,000 VND/kg compared to yesterday. In Binh Phuoc, the price of pepper today is at 145,000 VND/kg, a decrease of 1,000 VND/kg compared to yesterday.

Thus, today's pepper price (October 11, 2024) decreased by 1,000 VND/kg, ranging from 145,000 to 147,000 VND/kg. The highest price recorded was 147,000 VND/kg.

Today's world pepper prices:

According to the International Pepper Association (IPC), at the close of the most recent trading session, the IPC listed Indonesian Lampung black pepper at US$6,711/ton, up 0.33%, and Muntok white pepper at US$8,974/ton, up 0.32%.

Brazilian ASTA 570 black pepper is priced at US$6,750/ton. Malaysian ASTA black pepper is priced at US$8,800/ton; the price of Malaysian ASTA white pepper is US$11,200/ton.

Vietnamese black pepper prices fell to US$6,500/ton for the 500 g/l variety, down 4.62%; US$6,800/ton for the 550 g/l variety, down 4.41%; and white pepper prices were at US$9,850/ton, down 3.05%...

Pepper prices today, October 11, 2024: Export market volatile, pepper exports to China sharply decrease.

According to the Vietnam Pepper and Spice Association (VPSA), in the first nine months of 2024, Vietnam exported 200,894 tons of pepper, with a total value of US$991 million. Of this, black pepper accounted for US$781.9 million and white pepper for US$142.1 million. Although the export volume decreased slightly by 1.7%, the export value increased sharply thanks to the average prices of black and white pepper rising by 40.9% and 30.4% respectively.

Vietnam's largest export market is Asia; however, exports to this region decreased by 33.7% due to a sharp decline in the Chinese market. Exports of pepper to China alone fell by as much as 84.1%, significantly impacting overall exports. Other markets such as the UAE, India, South Korea, and Pakistan continued to record positive growth.

Domestic pepper prices continued to fall sharply today, mainly due to a significant decrease in exports to China. However, pepper prices on the world market still showed some positive signs. Given this situation, the Vietnamese pepper industry needs a new strategy to expand markets and increase exports.

As of the end of September, Vietnam's pepper exports reached 200,894 tons, far exceeding the 170,000 tons of the 2024 crop. At the same time, export volume in September was reported to have decreased significantly.

The Chinese economy in 2024 faced numerous challenges, including slowing growth, declining consumer demand, and difficulties with foreign exchange reserves. These issues impacted China's overall import levels, as businesses prioritized essential goods over commodities like pepper. Cautious spending and reduced purchasing power limited imports in many sectors, including spices.

Regarding the market outlook, experts predict that domestic pepper prices will remain below 150,000 VND/kg amidst high gold and USD prices and the upcoming new coffee harvest. Furthermore, Vietnam's export pepper prices will remain stable at a high level due to limited supply.

In India, increased imports coupled with reports of large inventories have driven down black pepper prices by 14 Rupees/kg in the three weeks ending August 2024. Most Indian markets are flooded with imported pepper of questionable quality, such as high moisture content, low bulk density, and mold. This has forced distributors to liquidate their stock at discounted prices, leading to further price declines. Meanwhile, demand for the festive season has not yet picked up in northern markets due to unfavorable weather conditions, with heavy rains in most consuming states causing a slowdown in sales.

Domestic pepper prices on October 11, 2024