Pepper prices today, February 9, 2025, in the domestic market increased sharply in key localities, trading from 150,500 - 153,000 VND/kg.
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| Pepper price today February 9, 2025: High increase at the beginning of the harvest season, expected pepper exports to continue to set records. (Source: Borneo Talk) |
Pepper prices today, February 9, 2025, in the domestic market increased sharply in key localities, trading from 150,500 - 153,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 154,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (153,500 VND/kg); Dak Lak (156,000 VND/kg); Dak Nong (157,000 VND/kg); Ba Ria - Vung Tau (155,000 VND/kg) and Binh Phuoc (156,000 VND/kg).
Thus, pepper prices today increased sharply in key growing areas, increasing by 3,000 - 4,000 VND/kg. The highest pepper price is at 157,000 VND/kg.
After the Lunar New Year, domestic pepper prices recorded consecutive days of increase. Localities also began harvesting early-ripening pepper. Prices increased at the beginning of the season, making farmers excited and hopeful for a bumper crop with "good harvest and good price".
The highest price is in Dak Nong, approaching the 160,000 VND/kg mark. This locality is assessed by the Vietnam Pepper and Spice Association to have the same output as last year.
Overall, this year's output is estimated by sources to increase compared to 2024. With high prices at the beginning of the season like now, in 2025 pepper is expected to continue to exceed billion USD in exports, and may possibly set a record high in exports ever.
Based on the supply-demand balance, pepper prices in 2025 are expected to remain high due to a decrease in supply, while demand in major markets such as the US and Europe remains stable. Pepper demand in the food and spice processing industries remains the main driver of the market.
According to a recent report by Ptexim, Vietnam’s total pepper export volume in 2024 is 250,600 tons, indicating a significant supply. However, the harvest has been steadily declining over the past 3-4 years due to shrinking planting areas as farmers switch to more profitable crops such as coffee and durian.
In addition, land prices in Vietnam have increased sharply from 2020 to 2023, causing many farmers to convert pepper growing land into real estate projects.
Significant fluctuations in pepper prices have also prompted many farmers to adopt intercropping by growing other crops along with pepper. This approach has led to a significant decline in the area under monoculture pepper cultivation over the past 4–5 years.
This trend is expected to continue, with pepper growing areas decreasing further by 2025. Ptexim forecasts that Vietnam’s pepper output in 2025 will decrease by about 5-10% compared to 2024. At the same time, inventories are at a five-year low and Vietnam will continue to import more pepper from other countries for processing and production.
In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,276 USD/ton; the price of Brazilian black pepper ASTA 570 at 6,500 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 9,000 USD/ton.
Muntok white pepper price is 9,770 USD/ton; Malaysian ASTA white pepper price is at 11,600 USD/ton.
Vietnam black pepper price is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 6,650 USD/ton; white pepper price at 9,550 USD/ton.
The International Pepper Community assessed that the pepper market in the first week of February showed mixed reactions, with only domestic Malaysian white pepper reported to have declined. Despite the weakening of the Indian Rupee against the USD, domestic and international Indian pepper prices continued to increase this week.
Source: https://baoquocte.vn/gia-tieu-hom-nay-922025-tang-cao-ngay-dau-vu-thu-harvest-ky-vong-ho-tieu-xuat-khau-tiep-tuc-lap-ky-luc-303529.html
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