Pepper prices will increase slightly.

Forecast of domestic pepper prices tomorrow.

According to the pepper price forecast for tomorrow, December 3, 2024, domestic pepper prices are expected to increase slightly compared to yesterday, December 2, 2024, with Gia Lai province potentially seeing an increase of 500 VND/kg.

Today, December 2nd, 2024, pepper prices remained unchanged compared to yesterday, December 1st, 2024, reaching 147,000 VND/kg.

Accordingly, today, December 2nd, 2024, the price of pepper is lowest in Ba Ria - Vung Tau province at 144,000 VND/kg; followed by Gia Lai and Binh Phuoc at 145,000 VND/kg; Dak Nong at 146,500 VND/kg; and Dak Lak province reaching 147,000 VND/kg. The average price of pepper today, December 2nd, 2024, is 145,500 VND/kg.

Dự báo giá tiêu ngày mai 3/12/2024: Giá tiêu sẽ tăng nhẹ

Pepper prices are forecast to increase slightly tomorrow, December 3rd, 2024, in Gia Lai province. Photo: Le Son

Currently, Vietnam has over 115,000 hectares of land planted with pepper and other spices. The South Central Coast and Central Highlands regions account for the majority of this area, with over 75,300 hectares. The remaining area is concentrated in the Southern and Northern regions.

Vietnam is currently one of the world's largest pepper exporters, accounting for approximately 11% of the global market share (as of 2023). In the first 10 months of 2024, Vietnam exported 219,000 tons of pepper and spice products. Items such as pepper, cinnamon, and star anise have been successfully exported to large and potential markets such as the United States, the EU, China, India, and the Middle East.

Forecast for tomorrow's world pepper prices

According to the International Pepper Association (IPC), the world pepper price update at the end of the most recent trading session showed that the market remained largely stable compared to the previous update, with only slight fluctuations in the Indonesian market.

Specifically, IPC listed the price of Indonesian Lampung black pepper at US$6,679/ton, an increase of 0.78%; and the price of Muntok white pepper at US$9,115/ton, a slight decrease of 0.31%.

Brazilian ASTA 570 black pepper prices remained stable at $6,000/ton. Malaysian ASTA black pepper prices were at $8,300/ton, down 1.2%; Malaysian ASTA white pepper prices reached $10,500/ton.

Specifically, the price of Vietnamese black pepper remained stable at US$6,200/ton for the 500 g/l grade, and US$6,500/ton for the 550 g/l grade; the price of white pepper remained unchanged at US$9,400/ton.

According to forecasts, world pepper prices tomorrow, December 3, 2024, will remain stable, with any increase or decrease being insignificant, possibly a slight increase in the Indonesian market.

*The above pepper price forecast is for reference only; the actual official price will be available early tomorrow morning (December 3, 2024) on Congthuong.vn.