Domestic pepper prices are showing an upward trend after several sessions of decline.

Forecast domestic pepper prices Tomorrow, December 22, 2024, domestic pepper prices are expected to remain stable, fluctuating around 145,000 – 146,000 VND/kg.

Today's pepper prices, updated this afternoon, December 21, 2024, are as follows: Domestic pepper prices continue to fall compared to the previous trading session and remain stable around 145,000 VND/kg.

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

Dự báo giá tiêu ngày mai 22/12/2024: Giá tiêu trong nước

Domestic pepper prices updated on December 21, 2024

According to statistics, 95% of Vietnam's harvested pepper is currently exported, with domestic consumption accounting for only 5%. Vietnam has maintained its position as the world's number one pepper exporter for over 20 years. The structure of pepper exports from Vietnam is undergoing positive changes, with an increase in ground pepper and a gradual decrease in whole peppercorns.

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

Conversely, the volume of ground black pepper and ground white pepper surged by 38.7% and 40.5%, reaching 35,569 tons and 9,730 tons respectively. The share of ground black pepper and ground white pepper increased to 15.1% and 4.1% of the total industry exports.

Farmers in Dak Nong province harvest pepper.

Currently, Vietnam is one of the three largest spice producers and exporters in the world, accounting for over 11% of the global spice export market. According to statistics, there are currently 35 pepper processing plants meeting ISO, HACCP, BRC, ESA, and ASTA standards, with a processing capacity of approximately 140,000 tons per year.

According to Hoang Thi Lien, Chairwoman of the Vietnam Pepper and Spice Association, the Vietnamese pepper industry is facing intense competition from other countries. Brazil, in particular, has seen a breakthrough in the last five years, exporting 80,000 tons in 2023 and projected to reach 100,000 tons in 2024.

World pepper price update today, December 21, 2024

Predicting tomorrow 's world pepper prices . According to predictions, world pepper prices are likely to continue rising slightly tomorrow. However, there will still be discrepancies in the upward and downward trends between countries.

According to the International Pepper Association (IPC) at 4:30 AM on December 21st, the world pepper price update is as follows: most pepper markets have rebounded, with the Malaysian market experiencing a sharp increase of $200/ton; after a price drop, the Indonesian pepper market recovered and has slightly increased again; meanwhile, the Brazilian and Vietnamese markets maintained stable prices.

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

Similarly, the price of Brazilian ASTA 570 black pepper, after a decline, has stabilized again and is currently at $6,275 per ton.

After several sessions of stable prices, pepper prices in Malaysia surged this morning. Malaysian ASTA black pepper reached US$8,400/ton (up US$200/ton), and ASTA white pepper reached US$10,600/ton (up US$200/ton) compared to the previous trading session.

Vietnamese black pepper export prices remain stable and high, currently reaching US$6,400/ton for the 500 g/l variety and US$6,700/ton for the 550 g/l variety; white pepper prices are also high at US$9,600/ton.

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

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