Pepper price today December 28, 2024: Continues to increase, pepper exports set a record
Today, December 28, domestic pepper prices are at 146,000 - 147,000 VND/kg, continuing to increase by 500 - 1,000 VND/kg compared to yesterday. The export value of pepper has far exceeded the 910.5 million USD mark, marking a record high since 2017.
Domestic pepper prices today
Specifically, pepper price today in Dak Lak increased by 1,000 VND/kg, reaching 147,000 VND/kg.
Similarly, pepper price today in Gia Lai increased by 1,000 VND/kg, reaching 146,000 VND/kg.
Pepper price today in Dak Nong has the highest price when it increased by 1,000 VND/kg, reaching 147,000 VND/kg.
In the Southeast region, pepper price in Ba Ria - Vung Tau today is at 147,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. Dong Nai also increased by 1,000 VND/kg compared to yesterday at 147,000 VND/kg.
In addition, pepper price today in Binh Phuoc increased by 500 VND/kg compared to yesterday, currently at 146,500 VND/kg.
According to the General Department of Customs, as of December 15, Vietnam had exported nearly 242,000 tons of pepper, earning 1.26 billion USD. Although the export volume decreased by 23,900 tons compared to 2023, the export value far exceeded the 910.5 million USD mark, reaching a record high since 2017.
The Ministry of Agriculture and Rural Development said that the high export value of pepper was due to the sharp increase in the price of this commodity. In January 2024, the export price of pepper was at 4,003 USD/ton, but by October 2024 it had jumped to 6,501 USD/ton, an increase of 72.4% over the same period in 2023. The average export price of pepper in the 11 months of 2024 increased by 53.3% over the same period in 2023, reaching 5,198 USD/ton.
Vietnam's three largest pepper export markets are the US, Germany and the United Arab Emirates, accounting for 44.1% of total export turnover.
Vietnam has been the world's number 1 pepper exporter for over 20 years, with 95% of the harvested pepper output being exported, while domestic consumption accounts for only 5%.
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 December 27 (local time) as follows:
Indonesia's Lampung black pepper prices remained unchanged from yesterday at $6,835 per ton. Meanwhile, Muntok white pepper prices remained unchanged from yesterday at $8,945 per ton.
Brazilian black pepper ASTA 570 price remained unchanged from yesterday at USD 6,275/ton.
The price of Malaysian ASTA black pepper remained unchanged compared to yesterday at USD 8,500/ton (up 1.18%). In addition, the price of this country's ASTA white pepper also remained unchanged compared to yesterday at USD 10,700/ton (up 0.93%).
Prices of all types of Vietnamese pepper remained unchanged compared to yesterday. Of which, the price of Vietnamese black pepper 500 gr/l reached 6,400 USD/ton; 550 gr/l reached 6,700 USD/ton.
Similarly, Vietnam's white pepper price remained unchanged from yesterday at 9,600 USD/ton.
According to a report by the Import-Export Department (Ministry of Industry and Trade), in the first 10 months of 2024, the EU imported 55.94 thousand tons of pepper from non-bloc markets, worth 282.5 million EUR (296.89 million USD), up 32.7% in volume and 55.6% in value over the same period last year.
The average import price of pepper from the EU market outside the bloc reached 5,050 EUR/ton, up 17.3% over the same period last year. Import prices from Vietnam, Brazil, India increased, but from Indonesia and Sri Lanka decreased.
The EU imports pepper mainly from Vietnam, Brazil, Indonesia, India and Sri Lanka.
