Domestic pepper prices
Table of Contents
According to the survey, pepper prices today continue to increase by 500 VND/kg in some provinces.
Specifically, the two provinces of Binh Phuoc and Ba Ria – Vung Tau raised their purchasing prices to 95,000 VND/kg and 95,500 VND/kg, respectively.
Pepper prices in Dak Lak and Dak Nong are currently adjusted to the highest level of 96,000 VND/kg.
Particularly, the two provinces of Gia Lai and Dong Nai continued to trade at the lowest level of 92,500 VND/kg – unchanged from last weekend.
The current pepper price is fluctuating between 92,500 – 96,000 VND/kg.
|
Province/district (survey area) |
Purchasing price (Unit: VND/kg) |
Change compared to yesterday (Unit: VND/kg) |
|
Dak Lak |
96,000 |
+500 |
|
Gia Lai |
92,500 |
– |
|
Dak Nong |
96,000 |
+500 |
|
BA Ria Vung Tau |
95,500 |
+500 |
|
Binh Phuoc |
95,000 |
+500 |
|
Dong Nai |
92,500 |
– |
World pepper prices
According to an update from the International Pepper Association (IPC) on March 24 (local time), Lampung black pepper prices (Indonesia), Brazilian black pepper prices ASTA 570 and Kuching black pepper prices (Malaysia) ASTA remained stable. compared to March 22
|
Type name |
World black pepper price list (Unit: USD/ton) |
||
|
March 22 |
March 24 |
% change |
|
|
Lampung black pepper (Indonesia) |
4,275 |
4,275 |
0 |
|
Brazilian black pepper ASTA 570 |
4,100 |
4,100 |
0 |
|
Kuching black pepper (Malaysia) ASTA |
4,900 |
4,900 |
0 |
At the same time of the survey, Muntok white pepper prices and Malaysian ASTA white pepper prices had no new adjustments.
|
Type name |
World white pepper price list (Unit: USD/ton) |
||
|
March 22 |
March 24 |
% change |
|
|
Muntok white pepper |
6,219 |
6,219 |
0 |
|
ASTA Malaysian white pepper |
7,300 |
7,300 |
0 |
According to a recent report by Nedspice Group, global pepper production in 2024 is expected to reach about 465,000 tons, down 6,000 tons compared to 471,000 tons the previous year. Of which, black pepper accounts for 89% of output and white pepper 11%.
Meanwhile, global pepper consumption is expected to be at 529,000 tons, exceeding production by 64,000 tons. This caused inventories to continue to decline to 428,000 tons, the lowest level in the past 6 years.
Nedspice Group said that the pepper harvest in Vietnam is currently entering its peak period and the total output this year is about 157,000 tons, down 15% compared to the previous year.
In recent years, there has been very little new pepper planting in Vietnam and many old pepper trees. At the same time, the area of pepper trees is also shrinking and being replaced by crops that bring better income such as durian.
Nedspice Group believes that rising pepper prices will encourage farmers to increase production, 1 Production – Consumption will boost pepper productivity in the coming years. However, new planting will take time to harvest, so output is unlikely to recover soon. Nedspice also said the scale and timing of new export demand in Vietnam will determine price trends in the coming months, with China especially playing an important role.
In Brazil, pepper growing area continued to expand in the states of Espirito Santo and Bahia in the Southeast region, but decreased in Para in the Northern region.
There have been many new pepper growing areas in Espirito Santo and Bahia in recent years as this crop brings profits to farmers. However, harvest volumes bucked this trend as adverse weather events caused by El Niño caused crop damage and poor yields. Even so, Brazil could see a very good crop in 2025 if weather conditions are favorable.
According to VietnamBiz.vn
