Domestic pepper prices continue to increase today

Update pepper price today December 28, 2024, online pepper price, Dak Lak pepper price, Dak Nong pepper price, Binh Phuoc pepper price, Gia Lai pepper price, pepper price December 28.

Domestic pepper price today

Today's pepper price was updated at 4:30 a.m. on December 28, 2024 as follows: Domestic pepper price today continues to increase compared to the previous trading session, an increase of about 500 - 1,000 VND/kg, depending on the locality.

Specifically, today's pepper price in Gia Lai was purchased at 146,000 VND/kg (an increase of 1,000 VND/kg) compared to the previous trading session; similarly, pepper prices in Ba Ria - Vung Tau , Dak Nong, Dak Lak provinces all increased by 1,000 VND/kg and are at 147,000 VND/kg. Pepper prices in Binh Phuoc province increased by 500 VND/kg and were purchased at 146,500 VND/kg.

Domestic pepper price updated on December 28, 2024

According to the Vietnam Pepper and Spices Association (VPSA), the market is currently showing signs of speculators pushing up prices because demand from the European and US markets is temporarily suspended due to having purchased enough goods for 2024 and the first months of 2025. Currently, businesses are delivering previously signed orders, and purchases are at a low level.

In Vietnam, the world’s largest pepper exporter, output is forecast to continue to decline in 2025 due to the impact of extreme weather and plant diseases. Similarly, in other pepper-producing countries, output is also declining for similar reasons.

According to experts, pepper prices are facing a new upward cycle in early 2025. The main reason is believed to be the continued decline in global supply, while demand from major markets such as China and Europe is increasing. In addition, increased transportation costs also push up pepper prices.

Farmers in Duc Trong district, Lam Dong province dry pepper after harvest.

A recent report by the Export-Import Department (Ministry of Industry and Trade) shows that, according to data from the European Statistical Office, in the first 10 months of 2024, the EU imported 55.94 thousand tons of pepper from non-bloc markets, worth approximately 282.5 million EUR (equivalent to 296.89 million USD), up 32.7% in volume and 55.6% in value over the same period last year.

Of which, Vietnam is the largest supplier of pepper from outside the bloc to the EU in the first 10 months of 2024, reaching over 37 thousand tons, worth 181.9 million EUR (equivalent to nearly 191.2 million USD), up 41.2% in volume and 74% in value over the same period last year.

Pepper fields are about to be harvested in Lam Dong province.

World pepper price today

Update on world pepper prices from the International Pepper Community (IPC) at 4:30 a.m. on December 28 as follows: The world pepper market has mixed increases and decreases among countries. Accordingly, after many sessions of increase, Indonesian pepper prices turned to decrease slightly, on the contrary, pepper prices in Malaysia rebounded, increasing by about 100 USD/ton; pepper prices in Brazil and Vietnam continued to remain stable at high levels.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,817 USD/ton (down 18 USD/ton) compared to the previous trading session; the price of Muntok white pepper reached 8,921 USD/ton (down 24 USD/ton).

The price of Malaysian ASTA black pepper increased and was purchased at 8,500 USD/ton (up 100 USD/ton) compared to the previous trading session; the price of ASTA white pepper was at 10,700 USD/ton (up 100 USD/ton).

The price of Brazilian black pepper ASTA 570 continues to remain stable at a fairly high level, currently at $6,275/ton.

The export price of Vietnamese black pepper is stable, 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.

Update world pepper prices today December 28, 2024

Currently, Vietnam's three largest pepper export markets are the US, Germany and the United Arab Emirates, accounting for 44.1% of the total export turnover of this industry. Of which, exports to the German market are very impressive, recording a 2.4-fold increase compared to the same period in 2023.

Recently, although pepper prices have been very high, farmers are no longer in the mood to massively plant new crops. Instead, they focus on increasing pepper productivity and quality through organic farming methods.

Source: https://congthuong.vn/gia-tieu-hom-nay-28122024-gia-tieu-trong-nuoc-hom-nay-giu-da-tang-366607.html