There is a welcome upward trend.

Pepper price today, October 16, 2024, in key areas fluctuated upward compared to yesterday and traded around 143,500 - 144,000 VND/kg. On average, in key areas, it increased by 500 VND/kg.

Accordingly, the price of Dak Lak pepper was purchased at 144,000 VND/kg, stable compared to yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 143,500 VND/kg, an increase of 500 VND/kg. The price of Dak Nong pepper today was recorded at 144,000 VND/kg, unchanged compared to yesterday.

In the Southeast region, today's pepper price (October 16, 2024) mainly recorded fluctuations compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 144,000 VND/kg, an increase of 500 VND/kg. In Binh Phuoc, today's pepper price is at 144,000 VND/kg, an increase of 500 VND/kg.

Giá tiêu hôm nay 16/10/2024: Xuất hiện xu hướng tăng đáng mừng

Pepper price today October 16, 2024: A welcome upward trend appears

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 6,744 USD/ton, and the price of Muntok white pepper at 9,233 USD/ton.

The price of Brazilian ASTA 570 black pepper was at USD 6,750/ton. The price of Malaysian ASTA black pepper remained stable at USD 8,700/ton; the price of this country's ASTA white pepper reached USD 11,200/ton.

Today, the price of Vietnamese black pepper lost up to 300 USD/ton, trading at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price at 9,850 USD/ton.

Domestic pepper prices have fluctuated erratically in most key regions in the country in early October. According to the Vietnam Pepper and Spice Association (VPSA), the amount of pepper left in the population is almost gone, so the domestic market is quite stagnant. Currently, the supply is only available at agents and warehouses of enterprises.

It is expected that Vietnam's 2025 pepper harvest will be almost entirely in February 2025, with some regions extending to March and April, 1-2 months later than previous years due to the impact of prolonged drought, causing Vietnam's pepper supply to become increasingly limited.

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.

It is estimated that pepper output in 2024 will only reach about 170,000 tons, down 10% compared to the previous year. This is also the lowest level in the past 5 years. The reason is that many farmers cut down pepper trees when prices fell 4 years ago (when pepper prices dropped to only 40,000 VND/kg) to plant more profitable trees such as durian, coffee, etc.

Currently, the domestic pepper market is being affected by both international and domestic factors. However, pepper exports remain positive in the first 9 months of 2024. According to experts, the Vietnamese pepper market still has the opportunity to grow slightly and maintain stable prices in the coming time.