Continue strong growth

Domestic pepper price today

Pepper price today December 8, 2024, domestic pepper price continues to increase compared to yesterday December 7, 2024; average at 146,500 VND/kg, many localities increased by 2,000 VND/kg.

Accordingly, pepper price today, December 8, 2024, Gia Lai pepper price increased by 1,500 VND/kg; the remaining pepper price of Ba Ria - Vung Tau, Dak Lak pepper price, Binh Phuoc pepper price, Dak Nong pepper price all increased by 2,000 VND/kg.

Pepper price today December 8, 2024 continues to increase strongly. Source: Borneo Talk

Specifically, Binh Phuoc pepper price and Ba Ria - Vung Tau pepper price are both at 146,000 VND/kg; Gia Lai pepper price is at 146,500 VND/kg; Dak Lak pepper price is at 147,000 VND/kg; Dak Nong pepper price is the highest at 147,200 VND/kg. The average pepper price today, December 8, 2024, is at 146,500 VND/kg, a sharp increase of 1,900 VND/kg compared to yesterday, December 7, 2024.

Currently, the area of pepper and spice cultivation in Vietnam has exceeded 115,000 hectares, mainly concentrated in the South Central Coast and Central Highlands regions with more than 75,300 hectares. These are areas with favorable natural conditions, helping pepper plants grow strongly.

In the first 11 months of 2024, Vietnam exported 235 thousand tons of pepper, bringing in more than 1.22 billion USD. It is expected that in December, pepper exports will reach over 20,000 tons, bringing the total pepper export turnover for the year to nearly 1.4 billion USD. This is a record high ever, thanks to the growth in pepper value in recent years, currently pepper prices are double that of previous years.

Towards 2025, the pepper and spice industry will continue to support farmers, cooperatives and businesses to improve product quality and meet international food safety standards. This is part of a long-term strategy to increase product value, expand markets and enhance the position of Vietnamese pepper in the international arena.

Pepper price update today 12/8/2024

World pepper price today

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, the market was basically stable compared to the previous update, except for the Indonesian market with slight fluctuations.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,703 USD/ton; up 0.28%; the price of Muntok white pepper at 9,148 USD/ton, up slightly 0.27%.

The price of Brazilian ASTA 570 black pepper increased slightly by 0.8% to 6,275 USD/ton; The price of Malaysian ASTA black pepper was at 8,200 USD/ton, and the price of this country's ASTA white pepper reached 10,400 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 9,300 USD/ton, unchanged.

World pepper prices today, December 8, 2024, are basically stable. Source: Khanh Ngoc

According to preliminary data from the Vietnam Pepper and Spices Association (VPSA), Vietnam exported 15,948 tons of pepper of all kinds, down 13.8% compared to October and down 21.4% compared to the same period in 2023.

However, the average export price of black pepper in November reached 6,513 USD/ton, white pepper reached 8,286 USD/ton, up 229 USD for black pepper and 57 USD for white pepper respectively compared to the previous month.

Olam remained the largest exporter in November with 2,089 tons, down 19.5% from the previous month. The following companies were Nedspice Vietnam: 1,873 tons, Tran Chau: 1,225 tons, Phuc Sinh: 1,169 tons and Haprosimex JSC: 1,095 tons.

Pepper exports to the US still accounted for the largest proportion, accounting for 31.9% and reaching 5,089 tons. Next were the markets: UAE: 927 tons, Hong Kong: 895 tons, Netherlands: 760 tons and South Korea: 600 tons.

In the first 11 months of 2024, Vietnam exported 235,335 tons of pepper of all kinds with a total turnover of 1.22 billion USD, down 3.5% in volume but up 46.9% in turnover compared to the same period in 2023.

Of which, black pepper export reached 207,498 tons, equivalent to a turnover of 1.036 billion USD; white pepper reached 27,837 tons and a turnover of 181.5 million USD.

The average export price of black pepper in 11 months reached 5,073 USD/ton, up 47.3% and white pepper reached 6,772 USD/ton, up 36.7% over the same period last year.

The US is the largest export market for Vietnamese pepper, reaching 67,802 tons, up 41.1% and accounting for 28.8% of the industry's total export volume.

Next are the markets: UAE: 15,495 tons, up 42.7%, accounting for 6.6%; Germany: 14,170 tons, up 67.7%, accounting for 6.0%; Netherlands up 41.8%; South Korea up 34.8%; Pakistan up 34.5%; Canada up 19.7%; Russia up 15.5%, UK up 14%... especially exports to Hong Kong reached 3,933 tons compared to 129 tons last year. However, China - Vietnam's 6th largest export market only reached 9,661 tons, down 83.6% compared to the same period in 2023.

Leading exporters include: Olam Vietnam: 25,249 tons, up 44.9%; Phuc Sinh: 21,287 tons, up 49.4%; Nedspice Vietnam: 18,887 tons, up 7.9%; Haprosimex JSC: 17,097 tons, up 70.6% and Tran Chau: 15,256 tons, up 0.8%. Leading white pepper exporters include: Nedspice, Olam, Phuc Sinh, Lien Thanh and Tran Chau.