Forecast for domestic pepper price tomorrow January 3, 2025 to increase slightly

Forecast of domestic pepper prices tomorrow

Domestic pepper prices tomorrow, January 3, 2025, continue to remain stable at a high level and increase slightly. Currently, the average pepper purchase price in localities is 146,900 VND/kg.

Today's pepper price was updated on the afternoon of January 2, 2025 as follows: Domestic pepper price is quite high, except for Gia Lai province, which has slightly increased again.

Specifically, pepper prices in Gia Lai today, after a slight decrease, have increased again, an increase of 500 VND/kg, currently the local purchase price is 146,500 VND/kg. Similarly, pepper prices in localities such as Binh Phuoc , Ba Ria - Vung Tau, Dak Nong, Dak Lak provinces have been stable, continuing to stay at a fairly high level for many days and are currently purchased at the same price in all localities at 147,000 VND/kg.

Domestic pepper price updated on January 2, 2025

Vietnam has been the world's number 1 pepper exporter for over 20 years, with 95% of the pepper harvested in Vietnam being exported. Meanwhile, domestic consumption accounts for only 5%.

Since the beginning of the year, Vietnam has exported about 250,000 tons of pepper of all kinds, earning 1.3 billion USD, far exceeding the figure of 910.5 million USD in 2023, while the volume was lower. This is also the highest export value of the pepper industry since 2017.

Pepper processing and exporting enterprises said that Vietnam's pepper inventory is currently very low. The 2025 harvest is expected to be 1-2 months later than usual and output will decrease due to the impact of drought. Expectations of increased purchases from the Chinese market are reasons for the market's growth in 2025.

Gia Lai province people dry pepper after harvest

Experts predict that pepper prices will continue to enter a new upward cycle in 2025 due to many factors. First, global supply is reduced due to the impact of drought and adverse weather. Second, high transportation costs also push up product prices. Finally, the US Federal Reserve (FED)'s interest rate cut is expected to stimulate economic activity in major importing countries, potentially increasing demand for Vietnamese pepper in key markets such as the US and EU.

According to VPSA, although the pepper price outlook is quite positive, the pepper industry still faces difficulties such as erratic weather, increased production costs and the risk of disease. In addition, a number of farmers have switched to growing more profitable crops such as durian and coffee, causing a decrease in pepper growing area, affecting output.

Update world pepper prices today January 2, 2025

World pepper price forecast tomorrow January 3, 2025

According to forecasts, the world pepper price will increase again tomorrow. However, there are still increases and decreases in pepper prices in the markets of different countries.

Update on world pepper prices from the International Pepper Community (IPC) on the afternoon of January 2, 2025 as follows: The pepper market in Indonesia has recovered, with a slight upward trend.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,857 USD/ton (up 2 USD/ton), slightly up from the previous trading session, similarly, the price of Muntok white pepper was purchased at 8,973 USD/ton.

The Brazilian pepper market continues to be stable at a high level, with the purchase price at 6,325 USD/ton. The price of Malaysian ASTA black pepper is purchased at 8,500 USD/ton; the price of ASTA white pepper is at 10,700 USD/ton.

The export price of Vietnamese black pepper is stable, currently reaching 6,400 USD/ton for 500 g/l and 6,700 USD/ton for 550 g/l; the price of white pepper is high at 9,600 USD/ton.

*The above pepper price forecast is for reference only, the actual price will be officially available early tomorrow morning (January 3, 2025) on Congthuong.vn.

Source: https://congthuong.vn/du-bao-gia-tieu-trong-nuoc-ngay-mai-312025-tang-nhe-367562.html