Vietnam's pepper exports increased by nearly 43% after 8 months

Pepper price today, September 10, 2024, in the Southeast region, key trading areas are around 152,000 - 153,000 VND/kg, the highest purchase price in the provinces of Ba Ria - Vung Tau, Dak Lak, Dak Nong is 153,000 VND/kg.

Accordingly, the price of Dak Lak pepper was purchased at 153,000 VND/kg, stable compared to yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 152,000 VND/kg, remaining unchanged compared to yesterday. The price of Dak Nong pepper today is at 153,000 VND/kg, stagnant compared to yesterday.

Pepper price today September 10, 2024: Vietnam's pepper exports increased by nearly 43% after 8 months

In the Southeast region, pepper prices today remained unchanged compared to yesterday. Specifically, in Binh Phuoc , pepper prices today are at 152,000 VND/kg. In Ba Ria - Vung Tau, they are at 153,000 VND/kg.

Thus, today's pepper price stagnated following the general market trend, fluctuating in the price range of 152,000 - 153,000 VND/kg, the highest price in pepper growing areas in Ba Ria - Vung Tau, Dak Lak, Dak Nong is 153,000 VND/kg.

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 7,542 USD/ton, down 0.48%, and the price of Muntok white pepper at 9,097 USD/ton, up 1.91%.

The price of Brazilian ASTA 570 black pepper remained at $7,500/ton. The price of Malaysian ASTA black pepper was at $8,800/ton; the price of this country's ASTA white pepper reached $10,900/ton.

Vietnam's black pepper price is stable at 6,600 USD/ton for 500 g/l; 550 g/l at 7,000 USD/ton; white pepper price at 9,300 USD/ton.

There is still more than one quarter left until the end of the year, but the export milestone of 1 billion USD set by the pepper industry for many years will certainly be achieved in 2024.

Our country's pepper inventory is not much, so the export of this item in the last months of this year will be lower than in previous years and will last until around March 2025 when the new harvest season begins. Therefore, the price of this item globally is forecast to continue to increase and stay high until Vietnam enters the harvest season next year.

Vietnam is the world's leading spice exporter, with an annual turnover of about 1.5 billion USD. Vietnamese spices are now exported to more than 125 countries, dominating many important markets. Pepper is one of the products with high export value and output. In addition to increasing processed products, trade promotion also plays an important role in bringing Vietnamese spices to world consumers.

According to the General Statistics Office (GSO), in August 2024, the total export turnover of Vietnam's main agricultural products reached 2.37 billion USD. In the first 8 months of 2024, Vietnam's agricultural exports reached 17.2 billion USD, up 27.8% over the same period last year. In August 2024, the amount of pepper exported decreased by 2.2% over the same period, reaching 20,000 tons; meanwhile, the export value increased by 56% over the same period last year, reaching 117 million USD.

In general, in the first 8 months of 2024, pepper exports reached 877 million USD, an increase of 42.6% over the same period last year, the amount of pepper exported decreased by 3% over the same period last year, reaching 183,000 tons.

Domestic pepper price on September 10 , 2024