The 2025 harvest is later than usual, 78% of pepper imported into the US comes from Vietnam

Pepper price today October 17, 2024 in the domestic market increased slightly in some key localities, trading from 143,500 - 144,000 VND/kg.

Pepper price today October 17, 2024: The 2025 harvest is later than usual, 78% of pepper imported into the US comes from Vietnam. (Source: Shutterstock)

Pepper price today October 17, 2024 in the domestic market increased slightly in some key localities, trading from 143,500 - 144,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 143,500 VND/kg.

Pepper prices today in the provinces of Dong Nai (143,500 VND/kg); Dak Lak (144,000 VND/kg); Dak Nong (144,000 VND/kg); Ba Ria - Vung Tau (144,000 VND/kg) and Binh Phuoc (144,000 VND/kg).

Thus, after 2 days of stability, domestic pepper prices today increased slightly by 500 VND/kg in some localities such as Gia Lai, Dong Nai, Ba Ria - Vung Tau, Binh Phuoc , while remaining stable in other growing provinces. The highest pepper price is still at 144,000 VND/kg.

According to some predictions, Vietnam's 2025 pepper harvest will be mostly concentrated in February 2025, with some regions extending to March and April, 1-2 months later than previous years. The reason is the impact of prolonged drought, causing Vietnam's pepper supply to become increasingly limited.

With competition from Indonesia's new pepper crop, the domestic market is forecast to show no signs of improvement, as China continues to increase its pepper purchases from Indonesia. Therefore, the market is predicted to be around 145,000 VND/kg.

In the long term, Ms. Hoang Thi Lien - President of the Vietnam Pepper and Spice Association (VPSA), said that pepper prices could exceed VND160,000/kg. In the next 3-5 years, the amount of pepper produced will not be able to meet the world's consumption demand.

According to data from the US International Trade Commission (USITC), pepper imports in August reached 7,372 tons, down 28% from the previous month but up 25% from the same period last year. Thus, pepper imports of the world's number 1 economy have grown for 8 consecutive months compared to the same period last year.

Therefore, total pepper imports into the US in the first 8 months of the year reached 63,294 tons, worth 306.9 million USD, up 37% in volume and 44.8% in value over the same period last year.

Regarding the supply market, Vietnam continued to be the largest pepper supplier to the US in the first 8 months of the year, accounting for 78% of the market's import capacity with a volume of 49,277 tons, worth more than 235.2 million USD, up 35.4% in volume and 46.8% in value over the same period last year. With this result, the US is also the largest customer of the Vietnamese pepper industry.

Meanwhile, the US also increased pepper imports from other suppliers such as: India reached 4,916 tons, up 24.4% and accounted for 7.8% of the market share; Indonesia reached 4,698 tons, up 111.7% and accounted for 7.4%; Brazil reached 2,385 tons, up 63.9% and accounted for 3.8%...

In the first 8 months of this year, the average imported pepper price into the US reached 4,849 USD/ton, up 5.7% over the same period last year.

Of which, the imported pepper price from Vietnam increased by 8.4% to an average of 4,774 USD/ton; from India increased by 3.4%, reaching 5,043 USD/ton; while the import price from Indonesia and Brazil decreased by 17% and 6%, to 5,117 USD/ton and 4,175 USD/ton.

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 6,744 USD/ton; the price of Brazilian black pepper ASTA 570 at 6,750 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,700 USD/ton.

Muntok white pepper price is 9,233 USD/ton; ASTA Malaysian white pepper price is at 11,200 USD/ton.

Vietnam black pepper price is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price at 9,850 USD/ton.

Source: https://baoquocte.vn/gia-tieu-hom-nay-17102024-vu-thu-hoach-2025-den-muon-hon-thong-le-78-ho-tieu-nhap-khau-vao-my-den-tu-viet-nam-290333.html