Pepper prices still increase despite market fluctuations

Update pepper price today November 25, 2024, domestic pepper price still increases despite the erratic market, what is the latest pepper price on November 25?

Domestic pepper price today

Pepper price today, November 25, 2024, the domestic pepper price situation remains unchanged compared to yesterday, November 24, 2024. Accordingly, the average pepper price in Ba Ria - Vung Tau, Dak Lak and Dak Nong is at 140,000 VND/kg. Gia Lai purchases at 139,500 VND/kg while Binh Phuoc has the lowest price at 139,000 VND/kg. The average pepper price today, November 25, 2024, is at 139,700 VND/kg.

Domestic pepper prices continued to increase last week despite the erratic market conditions. Photo: Hoang Thien

Overall, over the past week, pepper prices have increased by 500 - 1,000 VND/kg in some key provinces and cities despite the market fluctuations, prices have increased and decreased very erratically, pepper prices last week fluctuated between 139,000 - 140,000 VND/kg. This is a rare week when domestic pepper prices have increased in recent times, bringing a positive signal to pepper growers.

Pepper output in some localities is at risk of decline due to the impact of many factors. In some key pepper production areas of Vietnam such as Binh Phuoc, Ba Ria - Vung Tau and Dak Lak, output in the upcoming crop is at risk of decline due to the impact of many factors.

According to the Binh Phuoc Provincial Statistics Office, from the beginning of 2024 to now, the province's pepper growing area has decreased by 709 hectares compared to the same period in 2023. Currently, the whole province has 12,878 hectares, with an estimated output of 22,616 tons (down 874 tons compared to the same period last year).

The reason is that due to low prices, people do not invest much in care, leading to poor growth and disease. Some pepper areas have been converted by people to grow fruit trees and crops.

In Ba Ria - Vung Tau, at present, pepper gardens are in the fruit growing stage to prepare for the harvest around mid-January 2025. However, before that, due to the impact of unfavorable weather, pepper flowers fell off, so the fruit set rate was low, and the risk of crop failure was high.

Domestic pepper price today November 25, 2024

World pepper price today

While domestic pepper prices decreased, the world pepper price update from the International Pepper Community (IPC), at the end of the most recent trading session, the market remained stable, unchanged from the previous update. IPC listed the price of Indonesian Lampung black pepper at 6,470 USD/ton; the price of Muntok white pepper at 9,055 USD/ton.

The price of Brazilian ASTA 570 black pepper is at 6,000 USD/ton. The price of Malaysian ASTA black pepper is at 8,400 USD/ton; the price of this country's ASTA white pepper is at 10,500 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 9,400 USD/ton, unchanged.

According to the International Pepper Community, the pepper market has been clearly divided over the past week. Domestic black pepper prices in Sri Lanka continued to increase, while in India, pepper fruiting was severely affected by dry weather from June to July and rains that continued until September. These conditions not only reduced the number of thorns but also increased the incidence of diseases, with further rains from the Northeast monsoon forecast to impact key pepper growing areas.

Buyers remain cautious, awaiting more information on new crop yields in Vietnam and Brazil. In addition, high coffee prices are fueling speculation among traders and farmers, putting further pressure on pepper prices in many regions.