Pepper prices today, February 10, 2025, in the domestic market increased simultaneously in key localities, trading from 155,500 - 159,000 VND/kg.
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| Pepper price today February 10, 2025: Domestic market excitedly enters the harvest season, prices are expected to continue to increase. (Source: Borneo Talk) |
Pepper prices today, February 10, 2025, in the domestic market increased simultaneously in key localities, trading from 155,500 - 159,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 156,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (155,500 VND/kg); Dak Lak (158,000 VND/kg); Dak Nong (159,000 VND/kg); Ba Ria - Vung Tau (157,000 VND/kg) and Binh Phuoc (157,000 VND/kg).
Thus, pepper prices today continued to increase sharply in key growing areas, increasing by 1,000 - 2,000 VND/kg. The highest pepper price was at 159,000 VND/kg. The series of consecutive increases recorded right after the Lunar New Year holiday and right at the time of the early pepper harvest is a positive signal for the domestic market, helping local farmers enter the new harvest with excitement.
Vietnam has been the world leader in pepper production and export for over 20 years. However, pepper acreage is showing signs of decline year by year.
According to the Ministry of Agriculture and Rural Development, the pepper growing area nationwide in 2024 is about 113,000 hectares, with an estimated output of 190,000 tons. Meanwhile, the pepper growing area nationwide in 2023 will reach 115,000 hectares, the year with the highest area was 2017 at about 151,900 hectares.
It is expected that the pepper growing area may decrease to about 110,000 hectares in the coming time. The main reasons for the decrease are the impact of weather, pests and diseases and the sharp increase in prices of some other agricultural products such as durian and coffee in recent times.
Ms. Hoang Thi Lien - President of the Vietnam Pepper and Spices Association (VPSA) - forecasts that global pepper output in 2025 will continue to decrease compared to 2024, as pepper is no longer the main crop. This is especially true in the context of increased competition from other crops, along with the increasing cost of maintaining pepper production.
Furthermore, climate change is becoming increasingly severe, affecting pepper growing areas in many countries such as Indonesia, India, Malaysia, Sri Lanka and Brazil, leading to a significant decline in output.
2024 marks the third consecutive year of decline in global pepper production. It is forecasted that in the next few years, global pepper production will still not be enough to meet consumer demand. This will cause the price of "black gold" to continue to increase.
The Vietnamese pepper industry is shifting from increasing acreage to improving quality, promoting deep processing, diversifying products, and diversifying markets to penetrate deeply into the global pepper supply chain. Therefore, this year's output is forecast by many sources to not decrease, thereby helping to maintain the position of the Vietnamese pepper industry in the international 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 decreased.
Source: https://baoquocte.vn/gia-tieu-hom-nay-1022025-thi-truong-noi-dia-phan-khoi-buoc-vao-vu-thu-harvest-du-bao-gia-tiep-tuc-tang-303735.html
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