Pepper price forecast tomorrow
Domestic pepper price forecast tomorrow, January 13, 2025 is stable; after many consecutive declines, the domestic pepper market has pushed pepper prices back to around 147,000 VND.
Today's pepper price was updated on the afternoon of January 12, 2025 as follows: Domestic pepper price returned to around 147,000 VND/kg after many consecutive price reductions. Currently, the pepper market in key localities is 147,100 VND/kg.
Specifically, today's pepper price in Gia Lai province recorded a stable level compared to the previous trading session, currently being purchased at 147,000 VND/kg; similarly, pepper price in Binh Phuoc province is also purchased at 147,000 VND/kg.
Similarly, the pepper market in Ba Ria - Vung Tau and Dak Lak, after many sessions of decline, has also begun to stabilize and is purchased at 147,000 VND/kg.
Particularly, the pepper market in Dak Nong is purchased at a higher price than other localities, currently the pepper price in this locality is at 147,500 VND/kg.
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| Domestic pepper price updated on January 12, 2025 |
According to the Vietnam Industry and Trade Information Center (VITIC), after Vietnam, Brazil is the second largest producer and exporter of black pepper in the world, accounting for 17-18% of global supply. However, Brazil's pepper exports in the 2024 crop year decreased sharply, marking a decline for three consecutive years, due to low output due to the impact of El Nino. In the whole year of 2024, Brazil's pepper exports reached only 61,665 tons, a sharp decrease of 23.6% (equivalent to 19,037 tons) compared to 2023.
Experts assess that pepper inventories among farmers are currently low, next year's crop is late, and farmers have more autonomy in selling their products (good income allows them to not sell immediately but to store and wait for prices to rise). These reasons, combined with expectations that China will buy heavily again, are factors that could help pepper prices increase in the 2025 harvest.
Currently, the pepper market is quite quiet, with low transactions. Meanwhile, farmers, agents and exporters are limiting sales and holding on to their stocks, hoping that prices will increase sharply after Tet.
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| Farmers in Dak Nong province harvest pepper |
After a period of price increase, the domestic pepper market has reversed and decreased sharply, especially in the Central Highlands, with Dak Lak down to 6,000 VND/kg. The current pepper price is around 147,000 VND/kg.
In Malaysia, pepper continued to grow thanks to strong international demand and government support. Malaysia's pepper exports in the first 10 months of the year reached 4,787 tons, worth nearly US$30 million, up 30.3% in value.
In Brazil, pepper exports fell sharply by 41% in December, reaching only 4,374 tons. Vietnam imported 3,750 tons of pepper in December, down 14.4% compared to the previous month, mainly from Indonesia (81.9%).
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| Update world pepper prices today January 12, 2025 |
World pepper price forecast tomorrow January 13, 2025
According to forecasts, world pepper prices tomorrow will be stable and increase slightly, however there will still be mixed increases and decreases between countries.
Update on world pepper prices from the International Pepper Community (IPC) on the afternoon of January 12, 2025 as follows: The world pepper market has stabilized after many previous sessions of increase and decrease.
Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,841 USD/ton compared to the previous trading session, similarly, the price of Muntok white pepper was purchased at 8,953 USD/ton.
After many strong increases, the Malaysian pepper market has stabilized and is anchored at a high level. Currently, the price of Malaysian ASTA black pepper is purchased at 8,700 USD/ton and the price of ASTA white pepper is at 11,100 USD/ton.
Meanwhile, the Brazilian pepper market continues to stay high, currently at 6,350 USD/ton.
Vietnam's pepper export market is stable and increasing slightly. Specifically, the export price of Vietnam's black pepper is currently at 6,350 USD/ton for 500 g/l and 6,650 USD/ton for 550 g/l; the price of white pepper is at 9,550 USD/ton.
*The above pepper price forecast is for reference only, the actual price will be officially available early tomorrow morning (January 13, 2025) on Congthuong.vn.
Source: https://congthuong.vn/du-bao-gia-tieu-ngay-mai-1312025-trong-nuoc-on-dinh-369190.html
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