Pepper prices increased for 3 consecutive days

Forecast of domestic pepper prices tomorrow

According to the forecast, the pepper price tomorrow, December 9, 2024, the domestic pepper price will remain unchanged compared to today, December 8, 2024. This week, the domestic pepper price has increased continuously for 3 days. Today's pepper price, December 8, 2024, the domestic pepper price continues to increase compared to yesterday, December 7, 2024; the average is 146,500 VND/kg, many localities increased by 2,000 VND/kg.

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

Pepper price forecast for tomorrow, December 9, 2024. Photo: Hoang Thien

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

The 2025 harvest is forecast to face major difficulties due to climate change, which could extend the harvest period by 1.5 to 2 months, increasing supply pressure while demand remains high.

Experts recommend that farmers should not rush to sell or borrow money to store pepper, to avoid risks from price fluctuations. Instead, they need to balance their finances and closely monitor market developments to choose the right time to sell, optimizing profits.

Towards 2025, the pepper and spice industry will focus on supporting farmers, cooperatives and businesses to meet international standards on food quality and safety. This is part of a long-term strategy to increase product value, expand markets and enhance the position of Vietnamese pepper in the world market.

Pepper price update today December 8, 2024

Forecast of world pepper price tomorrow

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, the market was basically stable compared to the previous update, except for the Indonesian market with slight fluctuations.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,703 USD/ton; up 0.28%; the price of Muntok white pepper at 9,148 USD/ton, up slightly 0.27%.

The price of Brazilian ASTA 570 black pepper increased slightly by 0.8% to 6,275 USD/ton; The price of Malaysian ASTA black pepper was at 8,200 USD/ton, and the price of this country's ASTA white pepper reached 10,400 USD/ton.

Of which, the price of Vietnamese black pepper is stable at 6,200 USD/ton for 500 g/l, 550 g/l remains at 6,500 USD/ton; the price of white pepper is at 9,300 USD/ton, unchanged.

Forecast of world pepper price tomorrow, December 9, 2024, is basically stable. Photo: Le Son

According to preliminary data from the Vietnam Pepper and Spices Association (VPSA), Vietnam exported 15,948 tons of pepper of all kinds, down 13.8% compared to October and down 21.4% compared to the same period in 2023.

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

Olam remained the largest exporter in November with 2,089 tons, down 19.5% from the previous month. The following companies 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 accounted for the largest proportion, accounting for 31.9% and reaching 5,089 tons. Next were the markets: 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 pepper of all kinds with a total turnover of 1.22 billion USD, down 3.5% in volume but up 46.9% in turnover compared to the same period in 2023.

According to the forecast, the world pepper price tomorrow, December 9, 2024, will remain stable, if there is an increase/decrease, it will not be significant, it may decrease slightly in the Indonesian and Malaysian markets.

*The above pepper price forecast is for reference only, the actual price will be officially available early tomorrow morning (December 9, 2024) on Congthuong.vn.