Pepper price today, September 17, 2024, averaged around 152,000 – 155,000 VND/kg, down sharply by 2,000 VND/kg. The average purchase price was at 154,200 VND/kg, down 1,000 VND in Dak Lak and Dak Nong provinces.
In the world market, the International Pepper Association (IPC) has just updated the price of black pepper (ASTA 570) from Brazil at 7,000 USD/ton, down more than 4%.
Pepper price details on September 17, 2024
Pepper market news to watch:
– In Indonesia, some major production areas have completed harvesting, while producers have sold a large amount of goods. Currently, pepper prices in Indonesia are increasing rapidly by 200 – 300 USD/ton and most exporters are limiting their offers.
– Vietnam is the world’s leading spice exporter, with a turnover of about 1.5 billion USD/year (accounting for 50% of the spice output supplied to the world). In addition to the advantage in output, many businesses have increased investment in deep processing, increasing the value of exported spices, such as Phuc Sinh Group investing in a pepper processing factory for export worth hundreds of billions of VND.
– “Pepper King” Phan Minh Thong, Chairman of Phuc Sinh Group, commented that 2024 will be a year of strong growth for the pepper industry, with the price of this spice forecast to continuously increase due to limited domestic and global supply. However, with decades of experience in exporting and witnessing the ups and downs of the pepper industry, Chairman of Phuc Sinh has drawn a lesson: “We should not look at the growing market and high prices and find ways to increase output to exceed demand. The important thing is that businesses and people cooperate and invest sustainably to hope for long-term growth.”
>> See details of pepper prices today
Reference: Giacaphe.com/Vinanet/IPC
