Pepper enters new price increase cycle, 3 largest supply markets for Vietnam

Pepper prices today, January 15, 2025, in the domestic market continued to move sideways in key localities, trading from 147,000 - 147,500 VND/kg.

Pepper price today January 15, 2025: Pepper enters a new price increase cycle, 3 largest supply markets for Vietnam. (Source: Times of India)

Pepper prices today, January 15, 2025, in the domestic market continued to move sideways in key localities, trading from 147,000 - 147,500 VND/kg.

Specifically, pepper price today in Gia Lai is at 147,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (147,000 VND/kg); Dak Lak (147,000 VND/kg); Dak Nong (147,500 VND/kg); Ba Ria - Vung Tau (147,000 VND/kg) and Binh Phuoc (147,000 VND/kg).

Thus, pepper prices today are stable in key growing areas. The highest pepper price is at 147,500 VND/kg.

Pepper prices are forecast to enter an upward cycle in early 2025, mainly due to reduced supply. In addition, higher transportation costs also play a role in pushing pepper prices up again.

According to experts' predictions, the amount of pepper in stock among the people is almost gone, only remaining in agents and warehouses of enterprises. It is forecasted that in the next 3-5 years, global pepper production will still not be enough to meet consumer demand, showing that pepper has entered a new price increase cycle.

According to preliminary data from the Vietnam Pepper and Spices Association (VPSA), by the end of 2024, Vietnam had exported a total of 250,600 tons of pepper of all kinds, of which black pepper reached 220,269 tons and white pepper reached 30,331 tons.

Total export turnover reached 1.32 billion USD, including 1.117 billion USD of black pepper and 200.6 million USD of white pepper. Compared to 2023, the export volume decreased by 5.1%, but the turnover increased by 45.4%.

The average export price of black pepper in 2024 will reach 5,154 USD/ton, up 49.7% and white pepper will reach 6,884 USD/ton, up 38.9% over last year.

In terms of imports, Indonesia, Brazil and Cambodia are the three largest pepper suppliers to Vietnam in 2024, reaching 17,194 tons, 9,558 tons and 6,798 tons respectively. Of which, pepper imports from Indonesia and Cambodia increased sharply by 431.2% and 80.7%, while imports from Brazil decreased by 42.4%.

Indonesia has become the largest pepper exporter to Vietnam, replacing Brazil.

In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,155 USD/ton, up 4.39%; the price of Brazilian black pepper ASTA 570 at 6,350 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,700 USD/ton.

Muntok white pepper price is 9,248 USD/ton, up 3.19%; Malaysian ASTA white pepper price is at 11,100 USD/ton.

Vietnam black pepper price is traded at 6,350 USD/ton for 500 g/l; 550 g/l at 6,650 USD/ton; white pepper price is at 9,550 USD/ton. IPC suddenly increased pepper price in Indonesia.

Source: https://baoquocte.vn/gia-tieu-hom-nay-1512025-ho-tieu-buoc-vao-chu-ky-tang-gia-moi-3-thi-truong-cung-cap-lon-nhat-cho-viet-nam-300868.html