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| Pepper price today December 28, 2023, almost regaining the peak of 2 years, pepper is attractive in the market. (Source: Times of India) |
Pepper prices today, December 2, 2023, in the domestic market continued to increase sharply in some key localities, trading from 81,500 - 85,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 81,500 VND/kg.
Pepper prices today in Dong Nai province (82,000 VND/kg); Dak Nong, Dak Lak (84,500 VND/kg); Ba Ria - Vung Tau (82,500 VND/kg) and Binh Phuoc (85,000 VND/kg).
Thus, domestically, the market recorded the third consecutive day of increase, with a relatively large increase of 1,000 - 1,500 VND/kg in localities. After losing the 85,000 VND mark at the end of last week, domestic pepper prices quickly recovered due to concerns about continued shortages in export supply. Binh Phuoc continued to be the locality with the highest price in the market.
Besides coffee, pepper has also become an attractive commodity in the Central Highlands region in the last period of the year. The increase in pepper prices was triggered from the beginning of November and has continued until now. Pepper prices reached a nearly 2-year peak of VND85,500/kg on December 20 and have started to cool down in recent days.
As of December 26, the average pepper price in the Central Highlands provinces was about 83,000 VND/kg, up 23% compared to early November. Compared to the beginning of the year, pepper prices have increased by 45%.
Increased consumption and limited supply have been factors supporting domestic pepper prices in recent times. According to the General Department of Customs, Vietnam exported 20,238 tons of pepper in November with a revenue of 77.7 million USD, up 23.7% in volume and 28.4% in value compared to the same period last year.
Thus, this is the fourth consecutive month that pepper exports have increased compared to the same period as well as 2022. This shows that demand is improving positively.
Accumulated to the end of November, pepper exports reached 245,665 tons, up 18% over the same period.
Early harvest will begin in late December, while most areas will begin in January 2024. Weather conditions are generally favorable, but in many places in the Central Highlands, farmers have increased intercropping with other crops such as coffee and fruit trees such as durian and avocado. This will affect the pepper acreage in the future. It is estimated that Vietnam's total pepper output will decrease slightly by about 2-5% in the next crop.
According to members on many forums of Vietnamese pepper growers, the early harvest has begun sporadically in some areas of Dak Nong, with low output.
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 3,874 USD/ton; the price of Brazilian black pepper ASTA 570 at 3,270 USD/ton; the price of Kuching black pepper (Malaysia) ASTA remained at 4,900 USD/ton.
Muntok white pepper price is 6,080 USD/ton; Malaysian ASTA white pepper price remains at 7,300 USD/ton.
Vietnam black pepper price is trading at 3,700 USD/ton for 500 g/l, 3,800 USD/ton for 550 g/l; white pepper price is at 5,500 USD/ton. IPC continues to maintain prices in other countries.
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