Forecast for domestic pepper price tomorrow, January 1, 2025, will increase slightly

Forecast of domestic pepper price tomorrow , domestic pepper price tomorrow 1/1/2025 continues to be stable and increase slightly. Currently, the average pepper purchase price in localities is 146,900 VND/kg.

Today's pepper price was updated on the afternoon of December 31, 2024 as follows, domestic pepper price is quite high and slightly increased.

Specifically, today's pepper price in Gia Lai continued to increase by 500 VND/kg, currently the local purchase price is 146,500 VND/kg. Similarly, pepper prices in localities such as Binh Phuoc , Ba Ria - Vung Tau, Dak Nong, Dak Lak are staying at a fairly high level and are purchased at 147,000 VND/kg.

Domestic pepper price updated on December 31, 2024

The three markets of the US, Germany and UAE continue to be the largest pepper export markets of Vietnam, accounting for 44.1% of the market share. This shows the stability and development potential of these markets. However, China's sharp reduction in pepper imports from Vietnam in 2024 has been surprising. The main reason is believed to be that China has stockpiled goods in advance, leading to a short-term decrease in demand.

In addition, fluctuations in prices, supply and demand globally will pose many challenges for this industry in 2025.

Experts predict that pepper prices will continue to enter a new upward cycle in 2025 due to many factors. First, global supply is reduced due to the impact of drought and adverse weather. Second, high transportation costs also push up product prices. Finally, the US Federal Reserve (FED)'s interest rate cut is expected to stimulate economic activity in major importing countries, potentially increasing demand for Vietnamese pepper in key markets such as the US and EU.

Farmers in Dak Nong province harvest pepper

According to experts, the impact of the prolonged drought will delay the 2025 pepper harvest by about 2 months, causing difficulties in supplying the market. Therefore, import markets have increased their purchases to meet the demand until the first quarter of 2025.

Pepper export prices from Indonesia and Vietnam to China reached 5,175 USD/ton and 5,065 USD/ton, respectively, up 19.8% and 30% over the same period in 2023.

According to data from the Vietnam Pepper and Spices Association (VPSA), Vietnam's pepper exports to China in the first 11 months of the year (including official and unofficial channels) reached 9,661 tons, down 83.6% over the same period.

This result caused China to fall to the 6th position as Vietnam's largest pepper export market, from the number one position last year. At the same time, China's proportion in Vietnam's total pepper exports also decreased to 4.1% from 24% in the same period.

Update world pepper prices today December 31, 2024

Forecast of world pepper price tomorrow 1/1/2025. According to the forecast, world pepper price tomorrow will continue to remain stable and increase slightly on the first day of the new year. However, there will still be an increase - decrease in pepper price in the markets of countries.

Update on world pepper prices from the International Pepper Association (IPC) on the afternoon of December 31, 2024 as follows: the world pepper market continues to maintain stable prices, in which pepper prices in Indonesia have increased slightly again, increasing from 38 - 49 USD/ton.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,855 USD/ton (up 38 USD/ton) compared to the previous trading session, similarly, the price of Muntok white pepper was purchased at 8,970 USD/ton (up 49 USD/ton).

Apart from the increase in pepper prices in Indonesia, pepper markets in other countries have been less volatile and remain high. The price of ASTA black pepper from Malaysia is purchased at 8,500 USD/ton; the price of ASTA white pepper is at 10,700 USD/ton.

The price of Brazilian black pepper ASTA 570 continues to remain stable at a fairly high level, currently at $6,275/ton.

The export price of Vietnamese black pepper is stable, currently reaching 6,400 USD/ton for 500 g/l and 6,700 USD/ton for 550 g/l; the price of white pepper is high at 9,600 USD/ton.

*The above pepper price forecast is for reference only, the actual price will be officially available early tomorrow morning (January 1, 2025) on Congthuong.vn.

Source: https://congthuong.vn/du-bao-gia-tieu-trong-nuoc-ngay-mai-112025-tang-nhe-367206.html