Strong hoarding psychology, possibility of big fluctuations, uptrend still 'bright'

Pepper prices today, March 24, 2025, in the domestic market are stable in key localities, trading from 159,000 - 160,500 VND/kg.

Giá tiêu hôm nay. (Nguồn: Food and Wine)

Pepper price today March 24, 2025: Strong hoarding psychology, possibility of big fluctuations, the upward trend is still 'bright'. (Source: Food and Wine)

Pepper prices today, March 24, 2025, in the domestic market are stable in key localities, trading from 159,000 - 160,500 VND/kg.

Specifically, pepper price today in Gia Lai is at 159,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (159,000 VND/kg); Dak Lak (160,000 VND/kg); Dak Nong (160,500 VND/kg); Ba Ria - Vung Tau (159,000 VND/kg) and Binh Phuoc (159,000 VND/kg).

Thus, domestic pepper prices today remain stable in key localities. The highest pepper price is at 160,500 VND/kg.

Last week, pepper prices increased by 1,000 - 1,500 VND/kg, creating more motivation for farmers to feel secure in harvesting and investing in the next crop.

According to VOV in Cu Kuin district, Dak Lak province, local farmers said that pepper productivity decreased compared to the previous crop due to unfavorable weather, input material and labor prices also increased, but with the current pepper price at 160,000 VND/kg, they still made a profit. However, many people plan to continue to reinvest in more specialized gardens instead of expanding the area.

Regarding the market this week, experts say there is a possibility of big fluctuations. Although the new crop is increasingly entering the market, the hoarding mentality is strong this year, and farmers are selling less. High pepper prices cause businesses and traders to store less goods, so the possibility of manipulation like in previous years is reduced. In the long term, the upward trend is still bright when demand remains high and there is an expectation that China will soon buy strongly again.

According to Vietnam Customs data, Vietnam's pepper exports in the first 15 days of March reached 8,596 tons, worth 59.8 million USD, down 26.3% in volume and up 18.8% in value over the same period in 2024.

Accumulated from January 1 to March 15, pepper exports reached 35,802 tons, worth 243.9 million USD, down 15.8% in volume but up 39.7% in value compared to the same period last year.

The average export price of pepper from the beginning of the year to March 15 reached 6,813 USD/ton, up 66% over the same period. In the first half of March alone, the export price reached 6,958 USD/ton, up 61.3%. This is also the highest price recorded in the past 9 years, since February 2017.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,267 USD/ton; the price of Brazilian black pepper ASTA 570 at 7,000 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 9,900 USD/ton.

Pepper prices today, March 24, 2025, in the domestic market are stable in key localities, trading from 159,000 - 160,500 VND/kg.

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