Domestic pepper price today
Today's pepper price was updated at 4:30 a.m. on December 22, 2024 as follows: Domestic pepper prices remained stable and decreased slightly compared to the previous trading session, a decrease of 500 - 1,000 VND/kg, depending on the locality. Currently, the average pepper purchase price in localities nationwide is 145,100 VND/kg.
Specifically, the pepper purchase price in Gia Lai province continued to decrease by 500 VND/kg compared to the previous trading session and is at 144,500 VND/kg; similarly, the pepper price in Dak Lak decreased by 1,000 VND/kg, at 145,000 VND/kg; the pepper price in Dak Nong was purchased at 145,300 VND/kg, down 900 VND/kg; the pepper price in Ba Ria - Vung Tau and Binh Phuoc was stable, maintaining the price of 1,450,000 - 145,500 VND/kg.
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| Domestic pepper price updated on December 22, 2024 |
According to the Vietnam Pepper and Spice Association (VPSA), from the beginning of the year to November 2024, whole black pepper exports reached 170,390 tons, down 10.8% over the same period last year and accounting for 72.4% of the country's total pepper export volume. Similarly, whole white pepper exports also decreased by 2.8%, down to only 18,104 tons, accounting for 7.7% of the proportion.
Currently, 95% of Vietnam's pepper output is exported, with domestic consumption accounting for only 5%. Vietnam has maintained its position as the world's number 1 pepper exporter for over 20 years. The structure of Vietnam's pepper exports is changing positively with an increase in ground pepper and a gradual decrease in whole pepper.
In contrast, the volume of ground black pepper and ground white pepper increased sharply by 38.7% and 40.5%, reaching 35,569 tons and 9,730 tons, respectively. The proportion of ground black pepper and ground white pepper increased to 15.1% and 4.1% in the total export of the whole industry.
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| Pepper harvest in Dak Nong province |
Chairwoman of the Vietnam Pepper and Spice Association Hoang Thi Lien said that the Vietnamese pepper industry is facing great competition from other countries. In particular, Brazil has made a breakthrough in the past 5 years, exporting 80,000 tons in 2023 and is expected to reach 100,000 tons in 2024.
Currently, Vietnam is one of the three largest spice producing and exporting countries in the world, with an output accounting for more than 11% of the world's spice export market share. According to statistics, there are currently 35 pepper processing factories that meet ISO, HACCP, BRC, ESA, ASTA standards... with a processing capacity of about 140 thousand tons/year.
Current pepper inventories in Vietnam are very low, and the 2025 harvest is expected to be delayed by 1-2 months and yield lower yields due to prolonged drought conditions. As a result, the pepper market will be short of supply in the coming time, which could support higher pepper prices in the global market.
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| People in Duc Trong district, Lam Dong province dry pepper. |
World pepper price today
Update on world pepper prices from the International Pepper Community (IPC) at 4:30 a.m. on December 22 as follows: the pepper market remains stable at a high level.
Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,739 USD/ton; the price of Muntok white pepper reached 8,911 USD/ton.
Similarly, the price of Brazilian ASTA 570 black pepper has stabilized after a decrease, currently at 6,275 USD/ton; the price of Malaysian ASTA black pepper is at 8,400 USD/ton, and the price of ASTA white pepper is at 10,600 USD/ton.
The export price of Vietnamese black pepper is stable and remains high, 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 22, 2024 |
Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,739 USD/ton (up 3 USD/ton); the price of Muntok white pepper reached 8,911 USD/ton (up 4 USD/ton) compared to the previous trading session.
Similarly, the price of Brazilian black pepper ASTA 570 has stabilized after a decrease, currently at 6,275 USD/ton.
After many sessions of price stability, this morning pepper prices in Malaysia increased sharply, the price of Malaysian ASTA black pepper was at 8,400 USD/ton (up 200 USD/ton), the price of ASTA white pepper was at 10,600 USD/ton (up 200 USD/ton) compared to the previous trading session.
The export price of Vietnamese black pepper is stable and remains high, 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.
According to experts, pepper prices are under pressure from the strengthening of the USD. Accordingly, the USD Index (DXY) increased to its highest level in the past 2 years, at the same time after the US Federal Reserve (Fed) cut interest rates as expected and said the pace of monetary policy easing would slow down in the coming time.
However, experts believe that the pepper market in 2025 will be more vibrant and increase than in 2024. The reason is said to be due to unfavorable weather and prolonged drought in major pepper growing countries, causing a decrease in crop yields, leading to a decrease in output, thereby supporting pepper prices.
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