Vietnam's pepper exports to the US hit record high

Pepper prices today, September 21, 2024, in key regions increased and decreased in opposite directions from 500 - 1,000 VND/kg compared to yesterday and traded around 148,000 - 152,000 VND/kg, the highest purchase price in Dak Lak province was 152,000 VND/kg.

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

Pepper price today September 21, 2024: Vietnam's pepper exports to the US hit a record high

In the Southeast region, pepper prices today decreased by 1,000 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 148,000 VND/kg, down 1,000 VND/kg compared to yesterday.

Thus, domestic pepper prices today fluctuated in opposite directions, increasing by 500 - 1,000 VND/kg in key localities. The highest pepper price was at 152,000 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 7,715 USD/ton, and the price of Muntok white pepper at 9,305 USD/ton.

The price of Brazilian ASTA 570 black pepper is at 6,900 USD/ton. The price of Malaysian ASTA black pepper is at 8,800 USD/ton; the price of this country's ASTA white pepper is at 11,200 USD/ton.

Vietnam black pepper price is traded 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.

According to the General Department of Customs, Vietnam's pepper exports to the US market last August reached a record 8,570 tons, worth 52.7 million USD, a sharp increase of 45.1% in volume and 52.4% in value compared to the previous month, and an increase of 90.6% in volume and 2.9 times in value compared to the same period last year.

In the first 8 months of the year, pepper exports to the world's largest economic market reached 51,802 tons, worth 258.3 million USD, up 53.5% in volume and 90.9% in value over the same period in 2023. This market accounted for 28.3% of Vietnam's total pepper exports in 8 months compared to 18% in the same period last year.

The average pepper export price to the US in 8 months increased by 24.3%, to an average of 4,986 USD/ton.

Vietnam has always maintained its position as the largest pepper supplier to the US with a market share of about 80% of the market's import capacity.

According to the Vietnam Industry and Trade Information Center (VITIC), in Indonesia, some major production areas have completed harvesting. Producers have sold a large amount of goods. Pepper prices in Indonesia are increasing rapidly by 200 - 300 USD/ton and most exporters are limiting their offers.

Since the beginning of 2024, Indonesia's pepper exports have increased sharply, in contrast to the decline of leading producing countries such as Brazil or Vietnam.

Data shows that by the end of July 2024, the country's pepper exports reached 22,829 tons, worth more than 111 million USD, up sharply by 55.6% in volume and 59.6% in value over the same period last year. Indonesia's average pepper export price in the first 7 months of the year was 4,869 USD/ton, up 2.5% over the same period. This is a fairly modest price increase compared to other leading producing countries and the general level of the international market in recent times.

Domestic pepper price on September 21, 2024