The market remains fairly quiet

Pepper prices on October 23 globally

Globally, pepper prices turned downward in Indonesia on October 23.

Specifically, the price of Lampung black pepper in Indonesia dropped by 0.62%, down to $ 6,753/ton. Meanwhile, the price of Muntok white pepper from the country fell by 0.61%, standing at $ 9,246/ton.

In Malaysia, Kuching ASTA black pepper is priced at $ 8,700/ton, while ASTA white pepper from the same country is at $ 11,200/ton.

As for Brazil, ASTA 570 black pepper is being traded at $ 6,400/ton.

In Vietnam, the export price for black pepper 500 g/l is $ 6,500/ton, while the 550 g/l variety is priced at $ 6,800/ton. The export price for white pepper remains at $ 9,500/ton.

Global pepper prices today have reversed their downward trend in Indonesia but remained steady in other countries.

The global pepper market has seen minor fluctuations over the past week, with increased demand in major markets such as the US, EU, and Asia, while the Middle East and China remain quiet.

Stock levels have significantly decreased, causing farmers and dealers to limit sales as pepper prices slightly decline.

Brazil is facing severe drought conditions, leading to a reduction in pepper production by 25-40%. Nevertheless, Brazil’s pepper export revenue has increased due to higher prices.

Meanwhile, Indonesia has experienced a 14.4% increase in pepper production, enhancing its competitiveness in the global market.

India’s pepper exports have also risen by 31.4%, while Malaysia’s pepper output is expected to reach 27,000 tons.

Cambodia’s pepper exports have surged by 51%, with Vietnam as the main buyer.

China’s pepper imports from Vietnam have dropped sharply by 84.1%, but it has increased purchases from Indonesia.

Mr Marcellus Giovanni, CEO of Brazspice Spices International, noted that these developments highlight key trends and potential risks for pepper exporters.

Thus, global pepper prices on 10/23/2024, have only decreased in Indonesia compared to the previous day.

Pepper prices on October 23 domestically

In the domestic market, pepper prices on October 23, 2024, remained stable compared to the previous day.

Specifically, Dak Lak continues to purchase pepper at VND 145,000/kg;

Dak Nong’s pepper price today stands at VND 145,000/kg;

Gia Lai’s pepper is still trading at VND 144,000/kg;

Traders in Dong Nai continue to buy pepper at VND 144,000/kg;

The price of pepper in Ba Ria – Vung Tau remains at VND 144,000/kg;

Traders in Binh Phuoc are trading pepper at VND 144,000/kg.

Domestic pepper prices today show no new fluctuations, with the highest level being VND 145,000/kg.

Thus, on 10/23/2024, domestic pepper prices are trading around VND 143,500 – 144,000/kg.

$ 1 = VND 25.190 – Source: Vietcombank.