Pepper price today January 5, 2025: Strong increase, continue to set new peak?
Today's domestic pepper price on January 5 is at 148,000 - 150,000 VND/kg. It has increased sharply in localities compared to yesterday. It is forecasted that pepper prices on January 6 will continue to increase, supporting the Vietnamese pepper industry in the context of many challenges.
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 150,000 VND/kg.
Specifically, in Dak Nong province, pepper price is at 150,000 VND/kg. An increase of 500 VND/kg compared to yesterday.
In Gia Lai, pepper price is 148,000 VND/kg. Increased 500 VND/kg compared to yesterday.
In Dak Lak, pepper price is 149,000 VND/kg. Increased 1,000 VND/kg compared to yesterday.
In Binh Phuoc and Dong Nai, pepper price today is at 148,000 VND/kg. An increase of 1,000 VND/kg compared to yesterday.
In Ba Ria - Vung Tau, pepper price today is at 149,000 VND/kg. Same as yesterday.
Thus, pepper prices today fluctuate in many key provinces, in the domestic market, currently the lowest price is 148,000 VND/kg.
In 2024, despite the fluctuations in the world economy, businesses will be affected by logistics costs, price fluctuations and competition from other producing countries. However, the Vietnamese pepper and spice industry will still achieve impressive growth. In particular, the pepper industry will return to the billion-dollar export group after many years of stagnation.
With the results achieved in 2024, Vietnam continues to affirm its position as the world's leading pepper exporter.
However, to maintain this position, improving quality and adding value to products is key.
Experts say that Vietnam’s pepper industry is currently facing many challenges, including unfavorable weather, high production costs and diseases, while pepper growing areas are decreasing due to crop restructuring. However, with low inventories and forecasts that the 2025 harvest may be delayed due to prolonged drought, pepper prices are expected to increase in the coming time.
Based on the current situation, pepper prices tomorrow, January 6, 2025, are forecasted to continue to increase in major localities, especially in areas with high purchasing demand such as Dak Nong, Ba Ria - Vung Tau, and Dak Lak. The increase may range from 500 - 1,500 VND/kg depending on the region, helping domestic pepper prices maintain their competitiveness in the international market.
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 5 (local time) as follows:
Indonesia's Lampung black pepper price remained unchanged from yesterday at $6,832/ton (up 0.12%). Meanwhile, Muntok white pepper price remained unchanged from yesterday at $8,940/ton (up 0.12%).
Brazilian black pepper ASTA 570 price remained unchanged from yesterday at $6,325/ton.
Malaysia's ASTA black pepper price remained unchanged from yesterday at $8,500/ton. In addition, the country's ASTA white pepper price also remained unchanged from yesterday at $10,700/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 6,400 USD/ton; 550 gr/l reached 6,700 USD/ton.
Similarly, Vietnam's white pepper price remained unchanged from yesterday at $9,600/ton.
Global pepper prices remain high due to reduced supply and increased demand. In the US, black pepper prices peaked at $8,693/ton in June 2024. Global pepper production in 2024 is estimated at 533,000 tons, down 10,000 tons from the previous year.
Vietnam recorded a drop in output to 170,000 tonnes, but is expected to recover to 200,000 tonnes by 2025. Meanwhile, India will face a 25-30% drop in output by 2025 due to adverse weather impacts.
Major consumer markets such as China, the US and the EU are expected to continue to increase imports next year. China imported 9,677 tonnes of pepper in the first 11 months of 2024, up 15.1% in volume and 42.1% in value over the same period last year. This reflects strong demand and puts pressure on global supplies.
