Pepper prices on 09/13/2024: Domestic prices remained flat

Pepper prices on September 13 globally

Globally, pepper prices continued to rise on September 13, particularly in Indonesia.

According to the update, the price of black pepper in Lampung, Indonesia, increased by 0.03%, reaching $ 7,559/ton, while white pepper from Muntok rose by 0.02%, standing at $ 9,117/ton.

In Malaysia, the price of black pepper Kuching ASTA was recorded at $ 8,800/ton, while white pepper ASTA was priced at $ 10,900/ton.

In Brazil, black pepper ASTA 570 was traded at $ 7,500=/ton.

In Vietnam, the export price for black pepper grade 500 g/l was $ 7,100/ton, while the 550 g/l grade reached $ 7,225/ton. White pepper for export was priced at $ 10,150/ton.

Global pepper prices today maintained an upward trend in Indonesia but remained steady in other countries.

Thus, global pepper prices on 09/13/2024 saw a slight increase in Indonesia compared to the previous day.

Pepper prices on September 13 domestically

Domestically, pepper prices on September 13 remained stable compared to the previous day.

Specifically, Dak Lak increased by VND 500, with pepper being purchased at VND 156,000VND/kg.

In Dak Nong, pepper prices increased by 1,000 VND, reaching 156,000 VND/kg.

Pepper prices in Gia Lai continued to trade at VND 153,000/kg.

Traders in Dong Nai were still buying pepper at VND 153,000/kg.

Pepper prices in Ba Ria – Vung Tau held steady at VND 155,000/kg.

Meanwhile, Binh Phuoc continued trading pepper at VND 152,000/kg.

Domestic pepper prices today saw no new fluctuations, with the highest level remaining at VND 156,000/kg.

Data published by the General Department of Customs showed that Vietnam’s pepper exports in August reached 19,420 tons, valued at $ 116.7 million. This represents a 10.9% decrease in volume and a 10.1% decrease in value compared to the previous month, while it also marks a 3.1% decrease in volume but a significant 56% increase in value compared to the same period last year.

For the first eight months of the year, cumulative pepper exports reached 182,930 tons, valued at nearly $ 878 million, reflecting a 2.7% drop in volume but a sharp 41.8% rise in value compared to the same period last year, thanks to higher prices.

The average export price of Vietnamese pepper in the first eight months of the year was $ 4,800/ton, a 46.7% increase ($ 1,527/ton) compared to the same period last year.

In the context of rising pepper prices and favourable market conditions, Vietnam’s pepper export revenue is likely to exceed $ 1 billion this year, marking the return of the commodity, often referred to as “black gold,” after a six-year absence from the group of billion-dollar export items.

However, the export volume of pepper from now until the end of the year may be lower than in previous years, as the exported quantity over the past eight months has already exceeded the 170,000-ton production of the 2024 harvest.

Thus, domestic pepper prices on 09/13/2024, are trading around VND 153,000 – 156,000/kg.

$ 1 = VND 24.360 – Source: Vietcombank.