Spicing Up the Market: Domestic Pepper Prices on the Rise
- As of September 9, pepper prices in Vietnam range from 152,000 to 153,000 VND/kg, with a notable increase of 3,000 VND/kg from last week.
- Regional pepper prices vary slightly, with Dak Lak province purchasing at 153,000 VND/kg, Dak Nong province at 153,000 VND/kg, Gia Lai province at 152,000 VND/kg, Dong Nai at...
- Early morning prices remained stable compared to the previous day, with the week's end seeing a 3,000 VND/kg increase.
Pepper Prices Today: Market Trends and Export Updates
As of September 9, pepper prices in Vietnam range from 152,000 to 153,000 VND/kg, with a notable increase of 3,000 VND/kg from last week. This surge has helped the market surpass the 150,000 VND/kg mark.
Regional pepper prices vary slightly, with Dak Lak province purchasing at 153,000 VND/kg, Dak Nong province at 153,000 VND/kg, Gia Lai province at 152,000 VND/kg, Dong Nai at 152,000 VND/kg, Ba Ria – Vung Tau province at 153,000 VND/kg, and Binh Phuoc province at 152,000 VND/kg.
Early morning prices remained stable compared to the previous day, with the week’s end seeing a 3,000 VND/kg increase. Strong demand from Chinese and Middle Eastern markets has driven the recent price surge.
According to the Vietnam Pepper and Spice Association, August 2024 exports to China reached 329 tons, a 45.7% decrease from the previous month. However, the US market saw a significant increase, with exports reaching 8,474 tons, a 43.3% rise from July and accounting for 43.7% of the export market share.
International pepper prices, as listed by the International Pepper Community (IPC), include:
- Lampung black pepper (Indonesia): 7,578 USD/ton
- Brazilian black pepper ASTA 570: 7,500 USD/ton
- Kuching black pepper (Malaysia) ASTA: 8,800 USD/ton
- Muntok white pepper: 8,923 USD/ton
- Malaysian ASTA white pepper: 10,900 USD/ton
- Vietnamese black pepper: 6,600 USD/ton (500g/l), 7,000 USD/ton (550g/l)
- Vietnamese white pepper: 9,300 USD/ton
Last week, Brazilian black pepper ASTA 570 prices increased by 16.3%, reaching 7,500 USD/ton. Vietnamese black pepper exports (500g/l and 550g/l) are trading at 6,600 – 7,000 USD/ton, up 7.7 – 8.2% from the beginning of the week.
Experts predict that, due to limited domestic pepper supplies, exports will be lower than usual in the coming months, lasting until the new harvest season begins in March 2025. As a result, global pepper prices are expected to continue rising and remain high until Vietnam’s next harvest season.