Pepper price today January 14, 2025: Continue to decrease in Dak Nong
Pepper price today, January 14, domestically is at 147,000 - 147,200 VND/kg. Slightly decreased in Dak Nong by 300 VND/kg compared to yesterday.
Domestic pepper price today
The highest pepper purchase price in key pepper growing areas (Dak Lak, Lam Dong, Gia Lai, Dak Nong, Ba Ria - Vung Tau, Binh Phuoc) was recorded at 147,200 VND/kg.
Specifically, in Dak Nong province, pepper price is at 147,200 VND/kg. A slight decrease of 300 VND/kg compared to yesterday.
In Gia Lai, pepper price is 147,000 VND/kg. Unchanged compared to yesterday.
In Dak Lak, pepper price is 147,000 VND/kg. Unchanged compared to yesterday.
In Binh Phuoc and Dong Nai, pepper price today is at 147,000 VND/kg. Unchanged compared to yesterday.
In Ba Ria - Vung Tau, pepper price today is at 147,000 VND/kg. Unchanged compared to yesterday.
Thus, today's pepper price in the domestic market is currently at its lowest price of 147,000 VND/kg.
Pepper prices generally remain sluggish as cash flows into coffee, and import markets appear to have enough imports.
Last week, pepper prices had a series of 3 days of slight increases at the beginning of the week, then decreased sharply for 2 consecutive sessions. Pepper prices generally did not improve as cash flow poured into coffee, and import markets seemed to have imported enough goods for the first quarter of 2025.
Previously, pepper prices improved in the first week of the year, increasing by 2,000 - 3,000 VND/kg. According to the members of the Vietnam Pepper Growers Forum, pepper prices will fluctuate little until Tet. The market will hardly exceed the 150,000 VND/kg mark.
Demand has started to pick up from major markets including the US, the European Union (EU), the Middle East and China, leading to a 1.53% price increase last month. Buyers are anticipating a price drop in the first quarter of 2025 to make their purchasing decisions, which is also when the harvest season in Vietnam is underway.
World pepper price today
In the world market, based on quotes from export enterprises and export prices in various countries, the International Pepper Community (IPC) has updated the prices of pepper of all types traded in the international market on January 14 (local time) as follows:
Indonesian Lampung black pepper prices remained unchanged from yesterday at $6,841/ton. Meanwhile, Muntok white pepper prices remained unchanged from yesterday at $8,953/ton.
Brazilian black pepper ASTA 570 price remained unchanged from yesterday at USD 6,350/ton.
Malaysia's ASTA black pepper price remained unchanged from yesterday at $8,700/ton. In addition, the country's ASTA white pepper price also remained unchanged from yesterday at $11,100/ton.
Prices of all types of pepper in Vietnam remained unchanged compared to yesterday. Of which, the price of Vietnamese black pepper 500 gr/l reached 6,350 USD/ton; 550 gr/l reached 6,650 USD/ton.
Similarly, Vietnam's white pepper price remained unchanged from yesterday at $9,550/ton.
According to the Vietnam Industry and Trade Information Center (VITIC), after Vietnam, Brazil is the second largest producer and exporter of black pepper in the world, accounting for 17-18% of global supply. However, Brazil's pepper exports in the 2024 crop will decrease sharply, marking a decline for three consecutive years, due to low output due to the impact of El Nino.
In the whole year of 2024, Brazil's pepper exports will only reach 61,665 tons, a sharp decrease of 23.6% (equivalent to 19,037 tons) compared to 2023.
Meanwhile, supply from India has declined sharply due to climate change. Global pepper output in 2024 will reach 533,000 tons, down 10,000 tons compared to the previous year. In Vietnam, output will decrease by 20,000 tons to 170,000 tons. In 2025, Vietnam's pepper output is forecast to decrease by 10-15%, while India's is expected to decrease by 25-30% due to adverse weather.
With limited supply and high demand, pepper prices are forecast to continue to increase in the coming time. According to experts, the sharp increase in pepper prices in the first weeks of the new year 2025 is a positive signal for the Vietnamese pepper industry. Especially in the context of low inventory and increasing demand from major markets such as the US, EU, and China.
