Domestically mild, world mixed

Update pepper price today December 3, 2024, Dak Lak pepper price, Dak Nong pepper price, Binh Phuoc pepper price, Ba Ria - Vung Tau pepper price, pepper price December 3, 2024

Domestic pepper price today

Pepper price today December 3, 2024, the basic pepper price situation is stable compared to yesterday December 2, 2024; average 145,600 VND/kg, only Gia Lai province slightly increased 500 VND/kg.

Accordingly, the pepper price today, December 3, 2024, Ba Ria - Vung Tau province is the locality with the lowest price, at 144,000 VND/kg; followed by Binh Phuoc at 145,000 VND/kg; Gia Lai at 145,500 VND/kg; Dak Nong at 146,500 VND/kg; Dak Lak province is the highest at 147,000 VND/kg. The average pepper price today, December 3, 2024 is 145,600 VND/kg, a slight increase of 100 VND/kg compared to yesterday, December 2, 2024.

Pepper prices today, December 3, 2024, increased slightly domestically, while world prices increased and decreased in mixed directions. Photo: Le Son

Many believe that pepper is entering a price increase cycle due to tight supply. Currently, the bulk of the goods are in the hands of a small number of agents and import-export companies. This could lead to significant fluctuations in the market in the near future.

In 2024, pepper prices doubled compared to the previous period, creating a great incentive for farmers to invest heavily in pepper. However, this crop also faces many challenges, including climate change, increasingly complex pests and diseases, competition with other crops, and high production costs.

The 2025 crop is forecast to have a 10% to 15% decrease in output, and the late harvest in February and March will also put pressure on market supply in the first quarter of 2025. According to observations, Vietnam's pepper export prices have remained stable in recent weeks.

Update domestic pepper prices today December 3, 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 and Malaysian markets with slight fluctuations.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,679 USD/ton; up 0.78%; the price of Muntok white pepper at 9,115 USD/ton, down slightly 0.31%.

The price of Brazilian ASTA 570 black pepper was stable at 6,150 USD/ton; the price of Malaysian ASTA black pepper was at 8,300 USD/ton, down 1.2%; the price of this country's ASTA white pepper reached 10,500 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 9,400 USD/ton, unchanged.

According to the International Pepper Community, the pepper market in the last week of November showed that only India recorded a decrease both domestically and internationally. In addition, domestic and international pepper prices of Indonesia increased last week.

Commenting on the recent price decline, Harris Spice said that remaining inventories in other producing countries, especially Vietnam and Indonesia, have contributed to the bearish sentiment. Meanwhile, weak demand continues to affect pepper prices.

Regarding the harvest in other countries, the company said that in India, weather conditions this year have not been very favorable. Dry weather in June-July, followed by heavy rains in August-September, reduced the number of branches and increased the incidence of diseases. Scattered rains continue as the northeast monsoon continues over parts of the Indian peninsula.

In Vietnam, prolonged rains following a severe drought earlier this year have generally been favorable for pepper production. Good flowering and fruiting conditions were recorded in most growing areas in the Central Highlands. The 2025 crop is forecast to see a 10% to 15% reduction in output, and the delayed harvest in February and March will also put pressure on market supply in the first quarter of 2025.

Meanwhile, harvesting continues in the western regions of Lampung, as well as in Bengkulu and South Sumatra in Indonesia. Most regions have seen good yields this year due to scattered rains in the early stages. Selling pressure has eased as farmers have started to hold back material after initially selling more aggressively.

Meanwhile in Brazil, increased arrivals due to harvests in both Para and Espirito Santo have led to some selling pressure. Weather conditions this year have been unfavorable due to dry conditions early in the season.