Pepper price today January 14, 2025, domestic price goes against world trend

Domestic pepper price today

Today's pepper price was updated at 4:30 a.m. on January 14, 2025 as follows: Today's domestic pepper price returned to around 147,000 VND/kg after many consecutive declines. Currently, the pepper market in key localities is priced at around 147,000 VND/kg.

Specifically, today's pepper price in Gia Lai province recorded a stable level compared to the previous trading session, currently being purchased at 147,000 VND/kg; similarly, pepper price in Binh Phuoc province is also purchased at 147,000 VND/kg.

Similarly, the pepper market in Ba Ria - Vung Tau and Dak Lak , after many sessions of decline, has also begun to stabilize and is purchased at 147,000 VND/kg.

Particularly, the Dak Nong pepper market decreased slightly compared to the previous trading session, a decrease of about 300 VND/kg, currently the pepper price in this locality is purchased at 147,200 VND/kg.

Domestic pepper price updated on January 14, 2025

According to the Center for Industry and Trade Information - Ministry of Industry and Trade (VITIC), after Vietnam, Brazil is the second largest producer and exporter of black pepper in the world, accounting for 17 - 18% of global supply.

However, Brazil's pepper exports in the 2024 crop year are expected to decline sharply, marking a three-year decline, due to low output due to the impact of El Nino. In the whole year of 2024, Brazil's pepper exports will only reach 61,665 tons, a sharp decrease of 23.6% (equivalent to 19,037 tons) compared to 2023.

Experts assess that pepper inventories among farmers are currently low, next year's crop is late, and farmers have more autonomy in selling their products (good income allows them to not sell immediately but to store and wait for prices to rise). These reasons, combined with expectations that China will buy heavily again, are factors that could help pepper prices increase in the 2025 harvest.

Farmers in Dak Nong province take care of their pepper gardens.

According to data from the General Department of Vietnam Customs, in 2024, the US will be Vietnam's largest pepper export market with a volume of 73,710 tons, worth 407.6 million USD, accounting for 29.5% in volume and 31% in value of the country's total pepper exports, a sharp increase of 34% in volume and 84.2% in value compared to 2023. This is also the highest export volume and value to this market ever.

According to data from the US International Trade Commission (USITC), in the first 11 months of 2024, the US imported a total of 90,655 tons of pepper from the international market, worth 475.23 million USD, an increase of 44.3% in volume and 64.9% in value over the same period in 2023.

Lush green pepper gardens, full of fruit, are grown in Dak Nong province.

World pepper price today

Update on world pepper prices from the International Pepper Community (IPC) at 4:30 a.m. on January 14, 2025 as follows: the world pepper market is stable and increasing slightly; pepper prices in Indonesia increased sharply, increasing from 295 - 314 USD/ton compared to the previous trading session.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 7,155 USD/ton (up 314 USD/ton) compared to the previous trading session, similarly, the price of Muntok white pepper was purchased at 9,248 USD/ton (up 295 USD/ton).

After many strong increases, the Malaysian pepper market has stabilized and is anchored at a high level. Currently, the price of Malaysian ASTA black pepper is purchased at 8,700 USD/ton and the price of ASTA white pepper is at 11,100 USD/ton.

Similarly, the Brazilian pepper market continues to hold at a high level, currently at 6,350 USD/ton.

Vietnam's pepper export market is stable and increasing slightly. Specifically, the export price of Vietnam's 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.

Update world pepper prices today January 14, 2025

Brazil is the second largest exporter of black pepper (after Vietnam), accounting for 17-18% of the global market share. However, Brazil's pepper exports in 2024 are expected to decrease by 23.6% to 61,665 tons due to El Nino and low production.

Global pepper output in 2024 is expected to fall to 533,000 tons, with Vietnam down 20,000 tons to 170,000 tons. However, it is forecasted that in 2025, Vietnam's output could recover to 200,000 tons, while India's output could fall 25-30% due to bad weather.

Source: https://congthuong.vn/gia-tieu-hom-nay-1412025-trong-nuoc-nguoc-chieu-the-gioi-369398.html