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 will increase slightly compared to yesterday, December 2, 2024, Gia Lai province may increase by 500 VND/kg.

Pepper price today December 2, 2024, pepper price situation is the same as yesterday December 1, 2024; reaching 147,000 VND/kg.

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

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Pepper price forecast for tomorrow, December 3, 2024, will increase slightly in Gia Lai province. Photo: Le Son

Currently, Vietnam has more than 115,000 hectares of pepper and spice crops. The South Central Coast and Central Highlands regions account for the majority of the area, with more than 75,300 hectares. The remaining areas are concentrated in the Southern and Northern regions.

Vietnam is currently one of the world's largest pepper exporters, accounting for about 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 of world pepper price tomorrow

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, the market was basically stable compared to the previous update, except for the Indonesian market with slight fluctuations.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,679 USD/ton; up 0.78%; the price of Muntok white pepper at 9,115 USD/ton, down slightly 0.31%.

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

Of which, the price of Vietnamese black pepper is stable at 6,200 USD/ton for 500 g/l, 550 g/l remains at 6,500 USD/ton; the price of white pepper is at 9,400 USD/ton, unchanged.

According to the forecast, the world pepper price tomorrow, December 3, 2024, will remain stable, if there is an increase/decrease, it will not be significant, it may increase slightly in the Indonesian market.

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