Pepper price today 3/2/2025: Slight increase at the end of the week

Domestic pepper prices today

The highest pepper purchase price in key pepper growing regions (Dak Lak, Lam Dong, Gia Lai, Dak Nong, Ba Ria - Vung Tau, Binh Phuoc) was recorded at 159,000 VND/kg.

Specifically, in Dak Nong province, pepper price is at 159,000 VND/kg. A slight increase of 1,000 VND/kg compared to yesterday.

In Gia Lai, pepper price is 157,000 VND/kg. Increased 1,000 VND/kg compared to yesterday.

In Dak Lak, pepper price is 159,000 VND/kg. Increased 1,000 VND/kg compared to yesterday.

In Binh Phuoc and Dong Nai, pepper price today is at 158,000 VND/kg. A sharp increase of 2,000 VND/kg compared to yesterday.

In Ba Ria - Vung Tau, pepper price today is at 157,000 VND/kg. An increase of 1,000 VND/kg compared to yesterday.

Thus, today's pepper price in the domestic market is currently at its lowest price of 157,000 VND/kg.

In the domestic market of Vietnam, at this time last year, pepper gardens had entered the peak harvest period. However, this year, it was not until mid-February that farmers began to spread nets and prepare for harvest.

The main reason is due to unfavorable weather conditions during the growth and fruiting process. When it comes to the flowering stage, prolonged harsh sunlight and drought cause the flowers to fall off, resulting in a very low fruit set rate. Pepper growers must handle and fertilize the plants carefully, resulting in the pepper ripening later, causing the harvest to be delayed by about a month.

World pepper prices today

In the world market, based on quotes from export enterprises and export prices in various countries, the International Pepper Association (IPC) updated the prices of all types of pepper traded in the international market on March 2 (local time) as follows:

Indonesia's Lampung black pepper price remained unchanged from yesterday at $7,235 per ton. Meanwhile, Muntok white pepper price also remained unchanged from yesterday at $9,959 per ton.

Brazilian black pepper ASTA 570 price remained unchanged from yesterday at USD 6,850/mt.

Malaysia’s ASTA black pepper price is stable compared to yesterday at USD 9,500/ton. In addition, the country’s ASTA white pepper price is also stable compared to yesterday at USD 12,000/ton.

Prices of all types of Vietnamese pepper remained unchanged compared to yesterday. Of which, the price of Vietnamese black pepper 500 gr/l reached 6,900 USD/ton; 550 gr/l reached 7,100 USD/ton.

Similarly, Vietnam's white pepper price remained unchanged from yesterday at USD 9,900/ton.

According to the Import-Export Department (Ministry of Industry and Trade), pepper prices have increased since the beginning of the year in most major export markets. Of which, Indonesia recorded the strongest increase with white pepper prices increasing by 12.8% and black pepper by 6.9%. In Brazil, pepper export prices increased by 7.5%, while Malaysia also witnessed increases of 5.9% for black pepper and 8.4% for white pepper, respectively.

Overall, pepper prices are on an upward trend and are expected to remain high this year. Although the market is in a correction phase, pepper export prices continue to increase, bringing positive signals to farmers.

However, inventory strategies need to be carefully calculated to minimize risks from global market fluctuations.

In 2024, US importers increased their stockpiling due to concerns about high prices, causing actual purchases to increase by 30-40%, while demand increased by only about 5%. This helped farmers and stockpilers benefit from good prices early in the season.

However, many exporters face difficulties because they sign long-distance sales contracts with US customers. When prices increase sharply at the time of delivery, they suffer losses. This shows the importance of linking the supply chain and improving price forecasting capabilities.