Domestic pepper prices today
Today's pepper prices, updated at 4:30 AM on December 22, 2024, are as follows: Domestic pepper prices remain stable and have decreased slightly compared to the previous trading session, by 500-1,000 VND/kg, depending on the locality. Currently, the average purchase price of pepper nationwide is 145,100 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.
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| Domestic pepper prices updated on December 22, 2024 |
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.
Currently, 95% of Vietnam's harvested pepper is 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.
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.
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| Pepper harvest in Dak Nong province |
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.
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.
Current pepper inventories in Vietnam are very low, and the 2025 harvest is predicted to be delayed by 1-2 months and yield lower production due to prolonged drought conditions. Therefore, the pepper market will face a supply shortage in the coming period, which could support higher pepper prices on the global market.
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| People in Duc Trong district, Lam Dong province, are drying pepper. |
Today's world pepper prices
According to the International Pepper Association (IPC) at 4:30 AM on December 22nd, the world pepper market remains stable at a high level.
Specifically, IPC listed the price of Indonesian Lampung black pepper at US$6,739/ton; and the price of Muntok white pepper at US$8,911/ton.
Similarly, the price of Brazilian ASTA 570 black pepper, after a decline, has stabilized again, currently at $6,275/ton; the price of Malaysian ASTA black pepper is at $8,400/ton, and the price of ASTA white pepper is at $10,600/ton.
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.
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| World pepper price update today, December 22, 2024 |
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.
According to experts, pepper prices are under pressure from the strengthening US dollar. The US Dollar Index (DXY) has risen to its highest level in two years, following the Federal Reserve's expected interest rate cut and indication that the pace of monetary policy easing will slow in the near future.
However, experts believe that the pepper market in 2025 will be more vibrant and grow more than in 2024. This is attributed to unfavorable weather conditions and prolonged droughts in major pepper-producing countries, leading to reduced crop yields and consequently lower production, which in turn supports pepper prices.
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