Pepper prices have risen for three consecutive days.

Forecast of domestic pepper prices tomorrow.

According to forecasts, the price of pepper tomorrow, December 9, 2024, will remain unchanged compared to today, December 8, 2024. This week, domestic pepper prices have increased continuously for three days. Today, December 8, 2024, domestic pepper prices continue to rise compared to yesterday, December 7, 2024; averaging 146,500 VND/kg, with many localities seeing an increase of 2,000 VND/kg.

Accordingly, today, December 8, 2024, the price of pepper in Gia Lai increased by 1,500 VND/kg; while the prices in Ba Ria - Vung Tau, Dak Lak, Binh Phuoc , and Dak Nong all increased by 2,000 VND/kg.

Pepper price forecast for tomorrow, December 9, 2024. Photo: Hoang Thien

Specifically, the price of pepper in Binh Phuoc and Ba Ria - Vung Tau is 146,000 VND/kg; the price in Gia Lai is 146,500 VND/kg; the price in Dak Lak is 147,000 VND/kg; and the highest price in Dak Nong is 147,200 VND/kg. The average price of pepper today, December 8, 2024, is 146,500 VND/kg, a sharp increase of 1,900 VND/kg compared to yesterday, December 7, 2024.

The 2025 harvest is projected to face significant challenges due to climate change, potentially extending the harvesting period by 1.5 to 2 months, increasing supply pressure amidst continued high demand.

Experts advise farmers not to rush into selling or borrowing capital to store pepper, to avoid risks from price fluctuations. Instead, they should balance their finances and closely monitor market developments to choose the appropriate time to sell and optimize profits.

Looking ahead to 2025, the pepper and spice industry will focus on supporting farmers, cooperatives, and businesses to meet international standards for food quality and safety. This is part of a long-term strategy to enhance product value, expand markets, and improve the position of Vietnamese pepper in the global market.

Updated pepper prices today, December 8, 2024

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$6,703/ton, up 0.28%; and Muntok white pepper at US$9,148/ton, a slight increase of 0.27%.

Brazilian ASTA 570 black pepper prices rose slightly by 0.8%, to $6,275/ton; Malaysian ASTA black pepper prices were at $8,200/ton, while Malaysian ASTA white pepper prices reached $10,400/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$9,300/ton.

World pepper prices are forecast to remain basically stable tomorrow, December 9, 2024. Photo: Le Son

According to preliminary data from the Vietnam Pepper and Spice Association (VPSA), Vietnam exported 15,948 tons of various types of pepper, a decrease of 13.8% compared to October and a decrease of 21.4% compared to the same period in 2023.

Nevertheless, the average export price of black pepper in November reached US$6,513/ton, and white pepper reached US$8,286/ton, an increase of US$229 for black pepper and US$57 for white pepper respectively compared to the previous month.

Olam remained the largest exporter in November with 2,089 tons, a 19.5% decrease compared to the previous month. Following them were Nedspice Vietnam (1,873 tons), Tran Chau (1,225 tons), Phuc Sinh (1,169 tons), and Haprosimex JSC (1,095 tons).

Pepper exports to the US still account for the largest share, at 31.9% and reaching 5,089 tons. This is followed by the markets of: UAE: 927 tons, Hong Kong: 895 tons, Netherlands: 760 tons and South Korea: 600 tons.

In the first 11 months of 2024, Vietnam exported 235,335 tons of various types of pepper, earning a total of US$1.22 billion, a decrease of 3.5% in volume but an increase of 46.9% in value compared to the same period in 2023.

According to forecasts, world pepper prices tomorrow, December 9, 2024, will remain stable, with any increases or decreases being insignificant, possibly a slight decrease in the Indonesian and Malaysian markets.

*The above pepper price forecast is for reference only; the actual official price will be available early tomorrow morning (December 9, 2024) on Congthuong.vn.