New crop sources put pressure on the market, Vietnam maintains its position as the world's number 1 pepper exporter

Pepper price today February 23, 2025 in the domestic market decreased in key localities, trading from 159,000 - 161,000 VND/kg.

Pepper price today February 23, 2025: New crop sources put pressure on the market, Vietnam maintains its position as the world's number 1 pepper exporter. (Source: indigo-herbs.co.uk)

Pepper price today February 23, 2025 in the domestic market decreased in key localities, trading from 159,000 - 161,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 159,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (159,000 VND/kg); Dak Lak (161,000 VND/kg); Dak Nong (161,000 VND/kg); Ba Ria - Vung Tau (160,000 VND/kg) and Binh Phuoc (159,000 VND/kg).

Thus, pepper prices today decreased slightly in some key localities, by 1,000 - 1,500 VND/kg, while remaining stable in some other places. The highest pepper price is at 161,000 VND/kg.

Local farmers are now entering the pepper harvest season. New crop supplies are putting pressure on the market, pushing prices down this week.

Pepper prices in Gia Lai have surpassed 150,000 VND/kg. This is the highest level in nearly 10 years, since 2016.

Gia Lai province currently has about 7,500 hectares of pepper. The average yield is about 3.5 tons/ha. High prices, along with relatively stable yields, have helped farmers earn high profits.

Pepper prices have increased sharply due to a significant reduction in pepper growing areas over the past decade as farmers switched to other crops such as coffee and durian. At the same time, demand has increased in European and American markets.

According to experts, although the increase in pepper prices has given Gia Lai farmers the opportunity to improve their income, they should not massively expand their acreage but should focus on improving product quality. The pepper market is cyclical, the current high price is an opportunity but also poses risks if production is not sustainable. Farmers need to apply organic farming, control diseases and cooperate with businesses to ensure stable output.

In the first 18 days of February 2025, Vietnam exported 7,535 tons of pepper, earning 51.5 million USD and imported 1,297 tons of pepper, with a turnover of 5.9 million USD.

Vietnam has continued to maintain its position as the world's number 1 pepper exporter for more than 20 years, accounting for 60% of the global export market share. In 2024, our country will export 230 thousand tons of pepper with a turnover of about 1.3 billion USD.

Currently, the Vietnamese pepper industry is shifting from increasing acreage to improving quality, promoting deep processing, diversifying products, and diversifying markets to penetrate deeply into the global pepper supply chain.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,287 USD/ton, up 0.27%; the price of Brazilian black pepper ASTA 570 at 6,800 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 9,500 USD/ton.

Muntok white pepper price is 10,127 USD/ton, up 0.27%; Malaysian ASTA white pepper price is at 12,000 USD/ton.

Vietnam black pepper price is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 6,650 USD/ton; white pepper price at 9,550 USD/ton.

The International Pepper Community commented that the pepper market this week showed a positive outlook as no market declined. Both domestic and international Indian pepper prices tended to increase this week.

Source: https://baoquocte.vn/gia-tieu-hom-nay-2322025-nguon-hang-vu-moi-gay-ap-luc-len-thi-truong-viet-nam-giu-vung-vi-tri-xuat-khau-ho-tieu-so-1-the-gioi-305284.html