Pepper price today January 22, 2025: Strong increase in key regions
Pepper price today, January 22, in the country is at 146,000 - 147,500 VND/kg. Strong increase in key regions. Pepper market is expected to be vibrant again after Tet holiday.
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 147,500 VND/kg.
Specifically, in Dak Nong province, pepper price is at 147,500 VND/kg. A sharp increase of 1,500 VND/kg compared to yesterday.
In Gia Lai, pepper price is 147,000 VND/kg. Increased 2,000 VND/kg compared to yesterday.
In Dak Lak, pepper price is 147,000 VND/kg. Increased 1,500 VND/kg compared to yesterday.
In Binh Phuoc and Dong Nai, pepper price today is at 147,000 VND/kg. An increase of 2,000 VND/kg compared to yesterday.
In Ba Ria - Vung Tau, pepper price today is at 146,000 VND/kg. Unchanged compared to yesterday.
Thus, today's pepper price in the domestic market is currently at its lowest price of 146,000 VND/kg.
According to data from the Vietnam Pepper and Spice Association (VPSA), domestic pepper prices in the last 3 months of 2024 remained at 140,000 - 150,000 VND/kg, a significant increase compared to the beginning of the year (black pepper increased by 75.6% and white pepper increased by 68.8%). Export prices also had similar growth, 30.7% for black pepper and 28.6% for white pepper.
According to statistics from the Vietnam Pepper and Spices Association, in the first 15 days of January 2025, Vietnam exported 7,313 tons of pepper, with a total turnover of 48.3 million USD, down 3% in volume but up 61.86% in value over the same period in 2024.
Of which, Nedspice Vietnam was the largest exporter in the past period, reaching 853 tons and the US continued to be the main export market reaching 1,562 tons.
In addition, in the first 15 days of January, Vietnam imported 1,241 tons of pepper, worth 7.9 million USD. Vietnam imported mainly from Indonesia, accounting for 77.6%, reaching 963 tons, including 746 tons of white pepper. KSS, Olam Vietnam and Phuc Thinh were the three main importers, reaching 221 tons, 183 tons and 115 tons, respectively.
However, after the Lunar New Year holiday, the pepper market is expected to be vibrant again, with positive growth momentum thanks to strong demand from major markets. Experts say that China - one of the major pepper consuming countries - increasing imports after Tet will be an important driving force to help pepper prices remain high in the first months of 2025.
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 22 (local time) as follows:
Indonesia's Lampung black pepper price increased slightly compared to yesterday to reach 7,113 USD/ton. In addition, Muntok white pepper price also increased sharply compared to yesterday to reach 9,401 USD/ton (up 2.18%).
Brazilian black pepper ASTA 570 price decreased sharply compared to yesterday at 6,350 USD/ton (down 3.25%).
Malaysia's ASTA black pepper price is stable compared to yesterday at 9,000 USD/ton. In addition, the country's ASTA white pepper price is also stable compared to yesterday at 11,600 USD/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.
Vietnam has 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 (equivalent to 411.2%) in volume and 6.5 times (equivalent to 551.4%) in turnover compared to the same period in 2023.
VPSA encourages farmers and pepper businesses to improve product quality from the planting stage, businesses to invest in deep processing, clean processing, diversify products, diversify markets to penetrate deeply into the global pepper supply chain.
In Brazil, pepper production in 2024 is expected to decrease by 29% due to the impact of climate change, however, the situation may improve in 2025 if weather conditions are favorable. Global pepper prices are forecast to remain high in 2025 due to reduced supply in many countries.
