Pepper price today December 30, 2024: Strong increase this week
Pepper price today, December 30, in the country is at 146,500 - 147,000 VND/kg, pepper price increased sharply this week by 1,000 VND/kg compared to yesterday. The market is currently witnessing the participation of speculators to push up prices.
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 147,000 VND/kg.
Specifically, in Dak Nong and Dak Lak provinces, pepper price is at 147,000 VND/kg.
In Gia Lai, pepper price is 146,500 VND/kg. In Dong Nai, pepper price is 146,500 VND/kg.
In Binh Phuoc and Ba Ria - Vung Tau, pepper prices today are at 146,500 VND/kg and 147,000 VND/kg.
Thus, pepper prices today fluctuate in many key provinces, in the domestic market, currently the lowest price is 146,500 VND/kg.
According to the Import-Export Department (Ministry of Industry and Trade), the market shows signs of speculators pushing up prices due to a temporary halt in demand from the European and US markets before Christmas and New Year 2025. The FED's interest rate cut is expected to stimulate the economy, increasing demand for pepper in the US and EU.
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 price remained unchanged from yesterday at USD 6,817/ton (down 0.26%). Meanwhile, Muntok white pepper price remained unchanged from yesterday at USD 8,921/ton (down 0.27%).
Brazilian black pepper ASTA 570 price remained unchanged from yesterday at USD 6,275/ton.
Malaysia’s ASTA black pepper price remained unchanged from yesterday at $8,500/ton. Meanwhile, the country’s ASTA white pepper price also remained unchanged from yesterday at $10,700/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 6,400 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.
This year, the peak shipping season ended early, pushing up container prices. The ILA dock workers’ strike has been resolved, but there is still the risk of another strike on January 15, 2025. Exporters should take these factors into account when planning their export strategies.
