Pepper price today January 16, 2025: Continue to decrease in the Southeast
Pepper prices today, January 16, domestically are at 145,000 - 146,000 VND/kg. Continued decrease of 1,000 VND/kg in the Southeast compared to yesterday. Indonesia's pepper exports increased sharply last year and Vietnam emerged as the largest import market.
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 146,000 VND/kg.
Specifically, in Dak Nong province, pepper price is at 146,000 VND/kg. Unchanged compared to yesterday.
In Gia Lai, pepper price is 145,000 VND/kg. Unchanged compared to yesterday.
Similarly, in Dak Lak, pepper price is 145,000 VND/kg. Unchanged compared to yesterday.
In Binh Phuoc and Dong Nai, pepper price today is at 145,000 VND/kg. Decreased 1,000 VND/kg compared to yesterday.
In Ba Ria - Vung Tau, pepper price today is at 146,000 VND/kg. Decreased 1,000 VND/kg compared to yesterday.
Thus, today's pepper price in the domestic market is currently at its lowest price of 145,000 VND/kg.
In general, pepper prices still do not improve as money flows into coffee, import markets seem to have imported enough goods.
According to Vietnamese pepper growers, pepper prices will fluctuate little from now until Tet. The market is unlikely to exceed VND150,000/kg.
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.
Looking across, it can be seen that pepper prices have had impressive growth in 2024 with an increase from VND 83,500 from January 1, 2024 to VND 152,000 until December 31, 2024, corresponding to an increase of 82%.
According to experts' predictions, the amount of pepper in stock among the people is almost gone, only remaining in agents and warehouses of enterprises. It is forecasted that in the next 3-5 years, global pepper production will still not be enough to meet consumer demand.
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 16 (local time) as follows:
Indonesia's Lampung black pepper price increased slightly compared to yesterday to reach 7,162 USD/ton (up 0.1%). In addition, Muntok white pepper price also increased sharply compared to yesterday to reach 9,257 USD/ton (up 0.1%).
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.
Indonesia's pepper exports to many markets grew at double to triple digits compared to the same period last year.
Notably, Vietnam surpassed China to become the largest pepper import market from Indonesia in the first 11 months of 2024, with a volume of 16,240 tons and a turnover of 88.8 million USD, a sharp increase of 4.1 times (411.2%) in volume and 6.5 times (551.4%) in turnover compared to the same period in 2023.
Vietnam's market share in Indonesia's total pepper export volume also increased from 14.3% to 32%.
In addition, Indonesia's pepper export volume to the next largest markets such as China reached 7,615 tons, up 91.1% and accounting for 15% of the market share; the US reached 7,563 tons, up 130.8% and accounting for 14.9%; India reached 5,373 tons, up 59% and accounting for 10.6%...
