Domestic pepper price forecast tomorrow February 28, 2025 to increase again

Pepper price forecast tomorrow February 28, 2025, online pepper price, Dak Lak pepper price, Dak Nong pepper price, Binh Phuoc pepper price, Gia Lai pepper price, pepper price February 28.

Domestic pepper prices are forecasted to increase again tomorrow, February 28, 2025, after many previous price declines.

Today's pepper price was updated on the afternoon of February 27, 2025 as follows: Domestic pepper prices are stable, sideways and anchored at a fairly high level after many previous declines. Currently, the average pepper purchase price in key areas is 157,800 VND/kg.

Specifically, today's pepper price in Gia Lai province remained stable compared to the previous trading session, currently the pepper purchasing price in this locality is at 157,000 VND/kg.

Similarly, pepper prices in Ba Ria - Vung Tau and Binh Phuoc provinces have fluctuated little, remaining stable. Currently, traders are purchasing pepper in these two localities at 157,000 VND/kg.

Pepper prices in Dak Lak and Dak Nong provinces remained stable compared to the previous day's slight decrease. Currently, the pepper purchase price in these two localities is at 159,000 VND/kg.

Domestic pepper price updated on February 27, 2025

According to Ptexim, the demand for pepper is still quite slow in major markets such as the EU, the US and China. The continuous decline in pepper export volume since the second half of last year shows that the supply from the old crop is running out, while the new harvest is taking place later than usual due to unfavorable weather conditions.

Pepper harvesting has now begun in key pepper growing areas across the country, but due to adverse weather conditions, progress is slower than in previous years. It is forecasted that the 2025 crop season may be longer, with the main harvest taking place in late March or early April.

Despite high prices, experts recommend that farmers should not expand their acreage indiscriminately but should focus on quality, sustainable farming and cooperate with businesses to stabilize output. Unlike previous years, most of the new pepper crop in 2025 is being retained by farmers after harvest and only sold in very limited quantities.

Farmers in Dak Nong province dry pepper after harvest.

According to data from the US International Trade Commission (USITC), pepper imports in the US market have recovered and increased to a new record level in 2024 after two consecutive years of decline due to the impact of high inflation and interest rates.

In terms of supply, the country imported pepper from more than 50 different markets around the world in 2024, of which Vietnam was the largest supplier, accounting for 77.2% in volume and 76.8% in value, reaching 75,602 tons, worth 403.5 million USD, up 41.7% in volume and 72.3% in value compared to 2023.

According to the Vietnam Pepper and Spice Association (VPSA), the Vietnamese pepper industry is currently transforming strongly from expanding acreage to focusing on improving product quality. At the same time, businesses are promoting deep processing, developing diverse products and expanding markets, in order to increase their position and penetrate deeper into the global pepper supply chain.

Update world pepper prices today February 27, 2025

Forecast of world pepper price tomorrow February 28, 2025

According to forecasts, world pepper prices will continue to increase tomorrow and stay at a high level, however there will still be slight fluctuations between countries.

Update on world pepper prices from the International Pepper Community (IPC) on the afternoon of February 27, 2025 as follows: the pepper market is vibrant, green dominates, pepper export prices suddenly increase sharply, the increase is from 50 - 450 USD/ton, depending on the country; on the contrary, there are still countries where pepper prices decrease slightly.

Specifically, IPC listed the price of Indonesian Lampung black pepper as having decreased, currently at 7,318 USD/ton (down 38 USD/ton); the price of Muntok white pepper is currently being purchased at 10,074 USD/ton (down 51 USD/ton).

The Malaysian pepper market tends to be stable and sideways, currently the price of Malaysian ASTA black pepper is purchased at 9,500 USD/ton and the price of ASTA white pepper is at 12,000 USD/ton.

Pepper prices in Brazil increased again, up 50 USD/ton compared to previous trading sessions, currently purchasing at 6,850 USD/ton.

The export market of Vietnamese pepper has suddenly increased sharply, with an increase of 350 - 450 USD/ton depending on the type. Specifically, the export price of Vietnamese black pepper is currently at 6,900 USD/ton (up 400 USD/ton) for the 500 g/l type; the 550 g/l type is at 7,100 USD/ton (up 450 USD/ton); the price of white pepper is at 9,900 USD/ton (up 350 USD/ton).

*The above pepper price forecast is for reference only, the actual price will be officially available early tomorrow morning (February 28, 2025) on Congthuong.vn.

Source: https://congthuong.vn/du-bao-gia-tieu-trong-nuoc-ngay-mai-2822025-tang-tro-lai-375922.html