Market reacts in mixed ways, Vietnam sharply increases pepper imports from this country

Pepper prices today, February 16, 2025, in the domestic market continued to decline in key localities, trading from 157,000 - 160,000 VND/kg.

Pepper price today 2/16/2025: Market reacts in mixed ways, Vietnam increases pepper imports from this country. (Source: indigo-herbs.co.uk)

Pepper prices today, February 16, 2025, in the domestic market continued to decline in key localities, trading from 157,000 - 160,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 157,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (157,000 VND/kg); Dak Lak (160,000 VND/kg); Dak Nong (160,000 VND/kg); Ba Ria - Vung Tau (158,000 VND/kg) and Binh Phuoc (157,000 VND/kg).

Thus, pepper prices today continued to decrease in Gia Lai, Dong Nai, Ba Ria – Vung Tau and Binh Phuoc, decreasing by 1,000 – 2,000 VND/kg, while remaining stable in Dak Lak and Dak Nong. The highest pepper price was at 160,000 VND/kg.

Global pepper production in 2025 is forecast to continue to decline compared to 2024, marking the fourth consecutive year of decline since 2022. This reflects the fact that pepper is no longer the main crop for many farmers, especially in the context of the significant increase in economic value of other crops such as durian, coffee and oil palm.

According to data from the Central Statistics Agency of Indonesia (BPS), the country's pepper exports in December 2024 reached 4,673 tons, down 27.5% compared to the previous month but up 2.8 times compared to the same period in 2023.

In 2024, Indonesia exported 55,475 tons of pepper of all kinds with a turnover of 311.3 million USD, a sharp increase of 132.9% in volume and 171.8% in turnover compared to 2023. This result helped Indonesia continue to consolidate its third position in the world in pepper exports, after Brazil and Vietnam.

Last year, in general, Indonesia's pepper exports to most markets grew exponentially.

Notably, Vietnam - the world's largest pepper exporter, has returned to the leading position in importing pepper from Indonesia in 2024, with a volume of 18,015 tons, worth 99.2 million USD, an increase of more than 5.2 times (425.9%) in volume and 6.7 times (578%) in value compared to 2023.

In 2024 alone, Vietnam will account for 32.5% of Indonesia's total pepper export volume.

Indonesia's pepper export price in 2024 will average 5,611 USD/ton, up 16.7% compared to 2023. However, this increase is still much lower than the increase in pepper prices in other leading producing countries such as Vietnam (up 53.9%) or Brazil (up 48.4%). This is one of the main factors that helped Indonesia's pepper exports increase sharply last year.

Vietnam and Brazil will maintain their positions as the world's two largest pepper exporters in 2024. However, Indonesia has emerged as a significant supplier, especially when Vietnam and Brazil suffered crop failures last year.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,294 USD/ton, up 0.49%; the price of Brazilian black pepper ASTA 570 at 6,800 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 9,000 USD/ton.

Muntok white pepper price is 10,068 USD/ton, up 0.49%; Malaysian ASTA white pepper price is at 11,600 USD/ton.

Vietnamese black pepper price is trading at 6,500 USD/ton for 500 g/l; 550 g/l at 6,650 USD/ton; white pepper price is at 9,550 USD/ton. IPC has continuously increased Indonesian pepper price in recent days.

The International Pepper Community commented that the pepper market in the second week of February showed mixed reactions, with only Indian pepper reported to have declined. After reporting an upward trend for the past three weeks, both domestic and international Indian pepper prices showed a downward trend this week.

Source: https://baoquocte.vn/gia-tieu-hom-nay-1622025-thi-truong-phan-ung-trai-chieu-viet-nam-tang-manh-nhap-khau-ho-tieu-tu-quoc-gia-nay-304456.html