Spice Up Your Day: Pepper Prices Sizzle at 155,000 VND/kg – Today’s Update
Pepper Prices Today: Market Updates and Trends
As of September 18, pepper prices in key areas have experienced a slight decrease, ranging from 1,000 to 3,000 VND/kg in Gia Lai and Ba Ria – Vung Tau. The current trading price is around 152,000 – 155,000 VND/kg, with the highest purchase price recorded in Dak Nong and Dak Lak provinces at 155,000 VND/kg.
The price of Dak Lak pepper remains unchanged from yesterday at 155,000 VND/kg. Meanwhile, the price of Chu Se pepper in Gia Lai has decreased by 1,000 VND/kg to 153,000 VND/kg.
In the Southeast region, pepper prices have dropped sharply by 3,000 VND/kg compared to yesterday. Specifically, in Binh Phuoc and Ba Ria – Vung Tau, pepper prices are currently trading at 152,000 VND/kg.
Domestic pepper prices have decreased by 1,000 – 3,000 VND/kg in key localities such as Gia Lai, Binh Phuoc, and Ba Ria – Vung Tau.
Global Pepper Market Updates
According to the International Pepper Community (IPC), the latest trading session has seen the price of Indonesian Lampung black pepper increase by 0.43% to 7,595 USD/ton. The price of Muntok white pepper has also risen by 0.44% to 9,161 USD/ton.
In contrast, the price of Brazilian ASTA 570 black pepper has decreased by 4.29% to 7,000 USD/ton. The price of Malaysian ASTA black pepper is currently at 8,800 USD/ton, while the price of ASTA white pepper has reached 10,900 USD/ton.
Vietnamese black pepper prices are trading at 6,800 USD/ton for 500 g/l and 7,100 USD/ton for 550 g/l. White pepper prices are currently at 10,150 USD/ton.
Market Trends and Insights
Domestic pepper prices in Vietnam have been adjusted downward due to slowing demand from markets such as the US, EU, and Asia. However, China continues to purchase pepper, albeit in small quantities.
According to the General Department of Customs, Vietnam’s pepper exports in August reached 19,420 tons, valued at 116.7 million USD. This represents a 10.9% decrease in volume and a 10.1% decrease in value compared to July 2024.
In the first 8 months of 2024, Vietnam’s pepper exports have reached 182,930 tons, valued at nearly 878 million USD. This represents a 2.7% decrease in volume but a 42.8% increase in value compared to the same period last year.