Domestic pepper prices increased after many sessions of decline.

Forecast domestic pepper price Tomorrow, domestic pepper price tomorrow December 22, 2024 is stable, fluctuating around 145,000 - 146,000 VND/kg.

Today's pepper price was updated on the afternoon of December 21, 2024 as follows: Domestic pepper price continued to decrease compared to the previous trading session and stabilized around 145,000 VND/kg.

Specifically, the pepper purchase price in Gia Lai province continued to decrease by 500 VND/kg compared to the previous trading session and is at 144,500 VND/kg; similarly, the pepper price in Dak Lak decreased by 1,000 VND/kg, at 145,000 VND/kg; the pepper price in Dak Nong was purchased at 145,300 VND/kg, down 900 VND/kg; the pepper price in Ba Ria - Vung Tau and Binh Phuoc was stable, maintaining the price of 1,450,000 - 145,500 VND/kg.

Domestic pepper price updated on December 21, 2024

According to statistics, 95% of pepper harvested in Vietnam is currently exported, domestic consumption accounts for only 5%. Vietnam has maintained its position as the world's number 1 pepper exporter for over 20 years. The structure of Vietnam's pepper exports is changing positively with the increase of ground pepper and the gradual decrease of whole pepper.

According to the Vietnam Pepper and Spice Association (VPSA), from the beginning of the year to November 2024, whole black pepper exports reached 170,390 tons, down 10.8% over the same period last year and accounting for 72.4% of the country's total pepper export volume. Similarly, whole white pepper exports also decreased by 2.8%, down to only 18,104 tons, accounting for 7.7% of the proportion.

In contrast, the volume of ground black pepper and ground white pepper increased sharply by 38.7% and 40.5%, reaching 35,569 tons and 9,730 tons, respectively. The proportion of ground black pepper and ground white pepper increased to 15.1% and 4.1% in the total export of the whole industry.

Farmers in Dak Nong province harvest pepper

Currently, Vietnam is one of the three largest spice producing and exporting countries in the world, with an output accounting for more than 11% of the world's spice export market share. According to statistics, there are currently 35 pepper processing factories that meet ISO, HACCP, BRC, ESA, ASTA standards... with a processing capacity of about 140 thousand tons/year.

Chairwoman of the Vietnam Pepper and Spice Association Hoang Thi Lien said that the Vietnamese pepper industry is facing great competition from other countries. In particular, Brazil has made a breakthrough in the past 5 years, exporting 80,000 tons in 2023 and is forecast to reach 100,000 tons in 2024.

Update world pepper prices today December 21, 2024

Forecast of world pepper price tomorrow. According to forecast, world pepper price tomorrow is likely to continue to increase slightly. However, there is still a difference in the increase - decrease between countries.

Update on world pepper prices from the International Pepper Community (IPC) at 4:30 a.m. on December 21 as follows: most pepper markets rebounded, with the Malaysian market increasing sharply by 200 USD/ton; after the price decrease, the pepper market in Indonesia recovered and increased slightly again; meanwhile, the Brazilian and Vietnamese markets kept prices stable.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,739 USD/ton (up 3 USD/ton); the price of Muntok white pepper reached 8,911 USD/ton (up 4 USD/ton) compared to the previous trading session.

Similarly, the price of Brazilian black pepper ASTA 570 has stabilized after a decrease, currently at 6,275 USD/ton.

After many sessions of price stability, this morning pepper prices in Malaysia increased sharply, the price of Malaysian ASTA black pepper was at 8,400 USD/ton (up 200 USD/ton), the price of ASTA white pepper was at 10,600 USD/ton (up 200 USD/ton) compared to the previous trading session.

The export price of Vietnamese black pepper is stable and remains high, 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.

*The above pepper price forecast is for reference only, the actual price will be officially available early tomorrow morning (December 22, 2024) on Congthuong.vn.

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-mai-22122024-gia-tieu-trong-nuoc-chuyen-bien-tang-sau-nhieu-phien-giam-365477.html