Forecast domestic pepper price tomorrow, domestic pepper price tomorrow December 28, 2024 continues the upward cycle. Currently, the average pepper purchase price in localities is 146,700 VND/kg.
Today's pepper price was updated on the afternoon of December 27, 2024 as follows: Domestic pepper price today continued 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 day's price; similarly, pepper prices in Ba Ria - Vung Tau, Dak Nong, Dak Lak provinces all increased by 1,000 VND/kg and are currently at 147,000 VND/kg. Pepper prices in Binh Phuoc province increased by 500 VND/kg and were purchased at 146,500 VND/kg.
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| Domestic pepper price updated on December 27, 2024 |
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.
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.
While supply is decreasing, demand is increasing sharply, especially from large markets such as China and Europe. The demand for processed pepper products is increasing, leading to an increase in demand for input materials.
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| Gia Lai province people harvest pepper |
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.
According to information from the Vietnam Pepper and Spice Association (VPSA), the market is currently showing signs of speculators pushing up prices because demand from the European and American markets is temporarily suspended due to having purchased enough goods as well as nearing Christmas and New Year 2025. Currently, businesses are delivering previously signed orders, and purchases are at a low level.
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| Update world pepper prices today December 27, 2024 |
Forecast of world pepper price tomorrow December 28, 2024. According to the forecast, world pepper price tomorrow is likely to fluctuate and increase again. However, there are still increases and decreases in pepper prices in the markets of different countries.
Update on world pepper prices from the International Pepper Community (IPC) on the afternoon of December 27, 2024 as follows: the pepper market continues to be stable and is anchoring prices at a high level compared to the previous trading session.
Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,835 USD/ton; the price of Muntok white pepper reached 8,945 USD/ton.
The price of Brazilian ASTA 570 black pepper continues to remain stable at a fairly high level, currently at 6,275 USD/ton; the price of Malaysian ASTA black pepper is at 8,400 USD/ton, and the price of ASTA white pepper is at 10,600 USD/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.
*The above pepper price forecast is for reference only, the actual price will be officially available early tomorrow morning (December 28, 2024) on Congthuong.vn.
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