Domestic pepper price today
Today's pepper price was updated at 4:30 a.m. on December 20, 2024 as follows: Domestic pepper prices, after a session of simultaneous increases, have turned slightly down and stabilized at a high level in some localities. Currently, the average purchase price in localities is 146,500 VND/kg.
Specifically, the pepper purchase price in Gia Lai province remained stable at a high level of 146,000 VND/kg; similarly, the pepper purchase price in Dak Lak was at 147,000 VND/kg, the pepper purchase price in Dak Nong was at the highest price of 147,200 VND/kg. On the contrary, after the increase, pepper prices in Binh Phuoc and Ba Ria - Vung Tau turned to decrease, currently the pepper purchase price in Ba Ria - Vung Tau is 146,500 VND/kg (down 200 VND), pepper price in Binh Phuoc is at 146,000 VND (down 1,000 VND/kg).
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| Domestic pepper price updated on December 20, 2024 |
According to statistics, Binh Phuoc province currently has more than 12,900 hectares of pepper, of which more than 12,200 hectares are being harvested. Compared to 2019, the pepper area in the province decreased by more than 4,200 hectares. With the increase in pepper prices, many farmers are interested in investing in garden care again or planting new areas.
However, to prevent farmers from planting in bulk, leading to surplus products, the agricultural sector of Binh Phuoc province is strengthening propaganda work, raising people's awareness of the pepper market and potential risks. At the same time, the locality also needs to have a clear plan for planting area, guidance on cultivation techniques, pest prevention, and a stable and sustainable output market for pepper plants.
According to the Vietnam Pepper and Spice Association (VPSA), in the first 15 days of December, Vietnam exported 7,029 tons of pepper of all kinds, with a total turnover of 46.5 million USD, down 30.2% in volume but up 22.9% in turnover compared to the same period last year.
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| Farmers in Gia Lai province harvest pepper. |
Currently, to enhance competitiveness, the Vietnam Pepper and Spice Association is implementing strategic solutions. Among them, building a digital map of Vietnam pepper and spices is one of the important initiatives, contributing to providing detailed information on planting area, output, weather conditions, soil and quality standards, helping the Vietnamese spice industry become more transparent and attractive to international importers.
According to the Vietnam Pepper and Spice Association (VPSA), in the first 15 days of December, Vietnam exported 7,029 tons of pepper of all kinds, with a total turnover of 46.5 million USD, down 30.2% in volume but up 22.9% in turnover compared to the same period last year.
Accumulated from the beginning of 2024 to mid-December 2024, Vietnam's pepper exports reached 242,364 tons, with a turnover of 1.26 billion USD, down 5.2% in volume but up 45.2% in turnover compared to the same period in 2023. The average export price of pepper reached 5,216 USD/ton, up 53.14% over the same period.
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| Lush green pepper gardens in Duc Trong district, Lam Dong |
World pepper price today
Update on world pepper prices from the International Pepper Community (IPC) at 4:30 a.m. on December 20 as follows: pepper markets in Indonesia and Brazil continued to decline sharply; the decrease ranged from 74 - 98 USD/ton; pepper market in Brazil decreased by 75 USD/ton compared to the previous trading session.
Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,736 USD/ton (down 74 USD/ton); the price of Muntok white pepper reached 8,907 USD/ton (down 98 USD/ton).
Similarly, the price of Brazilian black pepper ASTA 570 decreased by 75 USD/ton compared to the previous trading session and is at 6,275 USD/ton.
Pepper prices in Malaysia remained stable compared to the previous trading session; Malaysian ASTA black pepper prices were at USD 8,200/ton, ASTA white pepper prices were at USD 10,400/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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| Domestic pepper price updated on December 20, 2024 |
According to the assessment, freight rates from Asia to Europe have already started to increase, with daily rates to the Mediterranean reaching nearly $6,000/FEU — an increase of $1,000/FEU from the end of November 2024. The reason for this increase may stem from effective capacity management by carriers, due to many empty sailings and increased demand ahead of the Lunar New Year.
For exporters to the Mediterranean, timely ordering is critical due to longer lead times resulting from ongoing diversions through the Red Sea. Missing the pre-holiday shipping window could result in significant delays to new shipments.
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