Domestic pepper price today
Today's pepper price was updated at 4:30 a.m. on December 29, 2024 as follows: Domestic pepper prices continued to stay high and increased slightly compared to the previous trading session, fluctuating from 146,500 - 147,5000 VND/kg. Currently, the average pepper purchase price in localities is 146,800 VND/kg.
Specifically, today's pepper price in Gia Lai was purchased at 146,500 VND/kg (an increase of 500 VND/kg) compared to the previous day's price; similarly, pepper price in Binh Phuoc province was also purchased at 146,500 VND/kg; pepper price in Ba Ria - Vung Tau, Dak Nong, Dak Lak localities was purchased at a higher price of 147,000 VND/kg.
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| Domestic pepper price updated on December 29, 2024 |
A recent report by the Export-Import Department (Ministry of Industry and Trade) shows that, according to data from the European Statistical Office, in the first 10 months of 2024, the EU imported 55.94 thousand tons of pepper from non-bloc markets, worth approximately 282.5 million EUR (equivalent to 296.89 million USD), up 32.7% in volume and 55.6% in value over the same period last year.
Of which, Vietnam is the largest supplier of pepper from outside the bloc to the EU in the first 10 months of 2024, reaching over 37 thousand tons, worth 181.9 million EUR (equivalent to nearly 191.2 million USD), up 41.2% in volume and 74% in value over the same period last year.
According to experts, pepper prices are facing a new upward cycle in early 2025. The main reason is believed to be the continued decline in global supply, while demand from major markets such as China and Europe is increasing. In addition, increased transportation costs also push up pepper prices.
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| Farmers in Dak Nong province harvest pepper. |
Currently, Dak Nong is the province with the largest pepper growing area in the country, with an area of 33,985 hectares of pepper, an output of 70,685 tons/crop. Recently, many farmers have implemented organic pepper cultivation, helping pepper gardens develop sustainably and stably, continuing to get rich thanks to this crop.
In addition, to develop pepper sustainably, the agricultural sector of Dak Nong province has had orientations and encouraged the replication of pepper production models according to certification standards. From there, chains of production, preliminary processing, processing, and consumption are formed between farmers and businesses.
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| Pepper gardens are about to be harvested in Lam Dong province. |
World pepper price today
Update on world pepper prices from the International Pepper Community (IPC) at 4:30 a.m. on December 29 as follows: The world pepper market remained stable compared to the previous trading session.
Specifically, IPC listed the price of Indonesian Lampung black pepper after a decrease, which has stabilized again and is at 6,817 USD/ton; similarly, the price of Muntok white pepper reached 8,921 USD/ton.
Malaysian ASTA black pepper price is purchased at 8,500 USD/ton; ASTA white pepper price 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.
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| Update world pepper prices today December 29, 2024 |
Experts also said that pepper prices are recovering after a period of decline due to reduced supply. However, due to low demand, farmers should not rush to sell or borrow money to stockpile pepper. Instead, farmers should plan for reasonable storage and balance their budgets, as prices may increase sharply by the end of next year.
Currently, the three largest pepper export markets of Vietnam are the US, Germany and the United Arab Emirates (UAE), accounting for 44.1% of the total export turnover of this item.
Source: https://congthuong.vn/gia-tieu-trong-nuoc-hom-nay-29122024-tiep-tuc-tang-nhe-366776.html
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