Pepper price forecast for tomorrow, January 24, 2025, domestic prices continue to increase

Pepper price forecast tomorrow

Domestic pepper prices are forecasted to continue to increase slightly and remain stable depending on the locality tomorrow, January 24, 2025.

Today's pepper price was updated on the afternoon of January 23, 2025 as follows: The domestic pepper market continues to be vibrant and tends to increase again after many previous flat sessions. Currently, the average pepper purchase price in key markets is 147,500 VND/kg.

Specifically, today's pepper price in Gia Lai province continued to increase by 500 VND/kg compared to the previous session, currently the pepper purchase price in this locality is 145,000 VND/kg; pepper price in Ba Ria - Vung Tau province increased by 500 VND/kg, currently the pepper purchase price is 147,000 VND/kg; similarly, pepper price in Dak Lak also increased by 500 VND/kg compared to the previous trading session, currently the pepper purchase price is 148,000 VND/kg.

Pepper price in Dak Nong increased by 500 VND/kg, currently the purchase price in this locality is 148,000 VND/kg.

Pepper prices in Binh Phuoc remain stable compared to the previous trading session, currently pepper is purchased at 147,000 VND/kg.

Domestic pepper price updated on January 23, 2025

According to statistics recently released by the Vietnam Pepper and Spice Association (VPSA), in 2024, Vietnam exported 250,600 tons of pepper of all kinds, reaching nearly 1.32 billion USD. Compared to 2023, the export volume decreased by 5.1%, but the export turnover increased dramatically by 45.4%.

The good news is that the average export price of black pepper in 2024 will reach 5,154 USD/ton, up nearly 50%, and white pepper will reach 6,884 USD/ton, up 40% over last year.

Ms. Hoang Thi Lien - President of the Vietnam Pepper and Spice Association (VPSA) said that up to now, Vietnamese pepper is very famous in the world market. Our country is the largest pepper producer in the world with 40% of output, exported to 110 countries and territories.

Of which, the US is our country's largest pepper export market with 72,311 tons in 2024, accounting for 28.9% and increasing by 33.2% compared to 2023. This is also the highest record export volume ever, up 21.0% compared to the previous record year of 2021, reaching 59,778 tons.

Farmers in Gia Lai province harvest pepper.

In terms of supply and demand, VPSA believes that Vietnam's pepper exports in 2025 will face both opportunities and uncertainties. Stable market demand and reduced output in some regions will help maintain high pepper prices. However, the extent of price increases will depend on the purchasing speed of major markets such as the US and China.

According to some experts, Vietnam's pepper output is expected to recover next season, but this does not mean that there will be an abundant supply to the market. Some opinions say that in Vietnam, a large amount of pepper is in the hands of speculators. These people use money from taking profits from other agricultural products that have just experienced a hot period such as coffee, durian, etc. to buy pepper. Thus, it is not easy to buy pepper at low prices even when the peak harvest is taking place.

Update world pepper prices today January 23, 2025

World pepper price forecast tomorrow January 24, 2025

According to forecast, world pepper prices tomorrow will fluctuate up and down between countries.

Update on world pepper prices from the International Pepper Association (IPC) on the afternoon of January 23, 2025 as follows: Pepper markets in various countries have increased and decreased in price compared to the previous trading session. In particular, pepper prices in Indonesia increased slightly, increasing from 20 - 26 USD/ton, on the contrary, pepper prices in Brazil decreased.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 7,135 USD/ton (up 20 USD/ton) compared to the previous trading session, similarly, Muntok white pepper is currently purchased at 9,427 USD/ton (up 26 USD/ton).

The Malaysian pepper market continues to remain stable and is anchored at a high level. Currently, the price of Malaysian ASTA black pepper is purchased at 9,000 USD/ton and the price of ASTA white pepper is at 11,600 USD/ton.

On the contrary, pepper prices in Brazil, after many previous increases, have turned to decrease, a decrease of about 50 USD/ton, currently pepper prices in Brazil are at 6,100 USD/ton.

The export market of Vietnamese pepper continues to be stable and the price has decreased relatively. Specifically, the export price of Vietnamese black pepper is currently at 6,350 USD/ton for 500 g/l and 6,650 USD/ton for 550 g/l; the price of white pepper is at 9,550 USD/ton.

*The above pepper price forecast is for reference only, the actual price will be officially available early tomorrow morning (January 24, 2025) on Congthuong.vn.

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-mai-2412025-trong-nuoc-tiep-tuc-tang-370917.html