Pepper price today January 2, 2025, domestic price slightly decreased

Domestic pepper price today

Today's pepper price was updated at 4:30 a.m. on January 2, 2025 as follows: Domestic pepper prices are mostly at a fairly high level, only pepper prices in Gia Lai province have decreased slightly.

Specifically, pepper prices in Gia Lai today, after an increase, have slightly decreased by 500 VND/kg, currently the purchase price in this locality is 146,000 VND/kg. Similarly, pepper prices in localities such as Binh Phuoc , Ba Ria - Vung Tau, Dak Nong, Dak Lak continue to be stable, anchored 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

Pepper processors and exporters say Vietnam’s pepper inventories are currently very low. The 2025 harvest is forecast to be delayed by 1-2 months and output will decrease due to drought. The Chinese market is expected to increase purchases, contributing to boosting prices in 2025.

The Vietnam Pepper and Spice Association (VPSA) expects the Chinese market to buy more actively next year. This year, China only bought about 10,000 tons, while other markets have bought heavily, reducing purchasing pressure right at the beginning of the season.

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.

Farmers in Dak Nong province harvest pepper

In 2024, Vietnam exported about 250,000 tons of pepper, worth 1.3 billion USD, far exceeding the 910.5 million USD in 2023 despite the lower export volume. This is the highest export value of the pepper industry since 2017.

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.

Experts say that the impact of the prolonged drought will delay the 2025 pepper harvest by about 2 months, causing difficulties in market supply. Therefore, import markets have increased their purchases to meet the demand until the first quarter of 2025.

But lush pepper gardens 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 2, 2025 as follows: the world pepper market continues to maintain a fairly high level and stable prices.

Specifically, IPC listed the price of Indonesian Lampung black pepper as little changed, at 6,855 USD/ton, similar to the price of Muntok white pepper purchased at 8,970 USD/ton.

The Brazilian pepper market in early 2025 has increased slightly again, currently at 6,325 USD/ton.

Malaysian ASTA black pepper price is purchased at 8,500 USD/ton; ASTA white pepper price 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.

Update world pepper prices today January 2, 2025

According to data from the China Customs Administration, in the first 11 months of 2024, China imported a total of 9,677 tons of pepper of all kinds worth 54.4 million USD, up 15.1% in volume and 42.1% in value over the same period in 2023.

Of which, the main reason is imports from Indonesia - the largest pepper supplier to China, reaching 5,141 tons, up 41.7% year-on-year and accounting for 56.2% of the market share. Next, imports from Vietnam reached 3,021 tons, up 3.8% year-on-year and accounting for 31.2% of the market share. Thus, Indonesia and Vietnam accounted for a total of 87.5% of pepper supply to China in the first 11 months of 2024.

Source: https://congthuong.vn/gia-tieu-hom-nay-ngay-212025-trong-nuoc-giam-nhe-367408.html