Continuing its strong upward trend.

Việt Nam•07/12/2024

Domestic pepper prices today

Today, December 8, 2024, domestic pepper prices continue to rise compared to yesterday, December 7, 2024; averaging 146,500 VND/kg, with many localities seeing an increase of 2,000 VND/kg.

Accordingly, today, December 8, 2024, the price of pepper in Gia Lai increased by 1,500 VND/kg; while the prices in Ba Ria - Vung Tau, Dak Lak, Binh Phuoc, and Dak Nong all increased by 2,000 VND/kg.

Pepper prices today, December 8, 2024, continue their strong upward trend. Source: Borneo Talk

Specifically, the price of pepper in Binh Phuoc and Ba Ria - Vung Tau is 146,000 VND/kg; the price in Gia Lai is 146,500 VND/kg; the price in Dak Lak is 147,000 VND/kg; and the highest price in Dak Nong is 147,200 VND/kg. The average price of pepper today, December 8, 2024, is 146,500 VND/kg, a sharp increase of 1,900 VND/kg compared to yesterday, December 7, 2024.

Currently, the area planted with pepper and spices in Vietnam has exceeded 115,000 hectares, mainly concentrated in the South Central Coast and Central Highlands regions with over 75,300 hectares. These are areas with favorable natural conditions that help pepper plants thrive.

In the first 11 months of 2024, Vietnam exported 235,000 tons of pepper, earning over $1.22 billion. It is projected that in December, pepper exports will reach over 20,000 tons, bringing the total pepper export value for the year to nearly $1.4 billion. This is a record high, thanks to the growth in the value of pepper in recent years, with prices currently double those of previous years.

Looking ahead to 2025, the pepper and spice industry will continue to support farmers, cooperatives, and businesses in improving product quality and meeting international food safety standards. This is part of a long-term strategy to increase product value, expand markets, and enhance the position of Vietnamese pepper internationally.

Updated pepper prices today, December 8, 2024

Today's world pepper prices

According to the International Pepper Association (IPC), the world pepper price update at the end of the most recent trading session showed that the market remained largely stable compared to the previous update, with only slight fluctuations in the Indonesian market.

Specifically, IPC listed the price of Indonesian Lampung black pepper at US$6,703/ton, up 0.28%; and Muntok white pepper at US$9,148/ton, a slight increase of 0.27%.

Brazilian ASTA 570 black pepper prices rose slightly by 0.8%, to $6,275/ton; Malaysian ASTA black pepper prices were at $8,200/ton, while Malaysian ASTA white pepper prices reached $10,400/ton.

Specifically, the price of Vietnamese black pepper remained stable at US$6,200/ton for the 500 g/l grade, and US$6,500/ton for the 550 g/l grade; the price of white pepper remained unchanged at US$9,300/ton.

World pepper prices today, December 8, 2024, remain basically stable. Source: Khanh Ngoc

According to preliminary data from the Vietnam Pepper and Spice Association (VPSA), Vietnam exported 15,948 tons of various types of pepper, a decrease of 13.8% compared to October and a decrease of 21.4% compared to the same period in 2023.

Nevertheless, the average export price of black pepper in November reached US$6,513/ton, and white pepper reached US$8,286/ton, an increase of US$229 for black pepper and US$57 for white pepper respectively compared to the previous month.

Olam remained the largest exporter in November with 2,089 tons, a 19.5% decrease compared to the previous month. Following them were Nedspice Vietnam (1,873 tons), Tran Chau (1,225 tons), Phuc Sinh (1,169 tons), and Haprosimex JSC (1,095 tons).

Pepper exports to the US still account for the largest share, at 31.9% and reaching 5,089 tons. This is followed by the markets of: UAE: 927 tons, Hong Kong: 895 tons, Netherlands: 760 tons and South Korea: 600 tons.

In the first 11 months of 2024, Vietnam exported 235,335 tons of various types of pepper, earning a total of US$1.22 billion, a decrease of 3.5% in volume but an increase of 46.9% in value compared to the same period in 2023.

Of that total, black pepper exports reached 207,498 tons, equivalent to $1.036 billion; white pepper exports reached 27,837 tons and $181.5 million.

The average export price of black pepper in the first 11 months reached US$5,073/ton, an increase of 47.3%, and white pepper reached US$6,772/ton, an increase of 36.7% compared to the same period last year.

The US is Vietnam's largest export market for pepper, reaching 67,802 tons, an increase of 41.1% and accounting for 28.8% of the total export volume of the entire industry.

Next are the markets: UAE: 15,495 tons, up 42.7%, accounting for 6.6%; Germany: 14,170 tons, up 67.7%, accounting for 6.0%; Netherlands: up 41.8%; South Korea: up 34.8%; Pakistan: up 34.5%; Canada: up 19.7%; Russia: up 15.5%; UK: up 14%… Notably, exports to Hong Kong reached 3,933 tons compared to 129 tons the previous year. However, China – Vietnam's sixth largest export market – only reached 9,661 tons, a decrease of 83.6% compared to the same period in 2023.

Leading exporting companies include: Olam Vietnam: 25,249 tons, up 44.9%; Phuc Sinh: 21,287 tons, up 49.4%; Nedspice Vietnam: 18,887 tons, up 7.9%; Haprosimex JSC: 17,097 tons, up 70.6%; and Tran Chau: 15,256 tons, up 0.8%. The top white pepper exporting companies include: Nedspice, Olam, Phuc Sinh, Lien Thanh, and Tran Chau.