Pepper price today December 29, 2024: Gia Lai pepper price goes up, currently being pushed up by speculators
Today's domestic pepper price, December 29, is at 146,500 - 147,000 VND/kg, Gia Lai pepper price increased by 1,000 VND/kg compared to yesterday. The market is currently witnessing the participation of speculators to push up prices.
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 147,000 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.
The weather in the Eastern Central Highlands region in recent days has been affected by the tropical depression circulation after the storm, causing moderate to heavy rain, even very heavy rain accompanied by thunderstorms in some places. These unfavorable weather conditions have positively impacted the domestic pepper market, helping prices to increase again. At the same time, the market is expected to be more vibrant as it prepares for the year-end holidays.
According to the Import-Export Department (Ministry of Industry and Trade), pepper demand is showing signs of recovery, especially in the Chinese market. The main reason is that the year-end festival season is approaching, leading to increased consumption demand. In addition, reports of a decline in pepper exports from Vietnam have also contributed to boosting market prices. High transportation costs are also an important factor causing pepper prices to escalate.
Forecasts show that pepper prices will enter an upward cycle in early 2025, mainly due to a sharp decrease in global supply. In addition, high transportation costs continue to be a key factor pushing pepper prices up again. This is a notable trend for the pepper market in the coming time.
World pepper price today
In the world market, based on quotes from export enterprises and export prices in various countries, the International Pepper Association (IPC) has updated the prices of all types of pepper traded in the international market on December 27 (local time) as follows:
Indonesian Lampung black pepper prices remained unchanged from yesterday at $6,817/ton (down 0.26%). Meanwhile, Muntok white pepper prices remained unchanged from yesterday at $8,921/ton (down 0.27%).
Brazilian black pepper ASTA 570 price remained unchanged from yesterday at $6,275/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.
According to the International Pepper Community, the pepper market in the last week of 2024 showed mixed reactions, especially in the context of countries preparing to celebrate Christmas.
While Indian pepper prices, both domestically and internationally, continued to decline since last week, Indonesian black pepper prices recorded an upward trend.
The Import-Export Department (Ministry of Industry and Trade) quoted the Vietnam Pepper and Spice Association (VPSA) as saying that the market is currently witnessing the participation of speculators to push up prices. The main reason is that demand from the European and American markets has temporarily stopped, because orders have been fully purchased before Christmas and New Year 2025.
Currently, businesses are mainly focusing on delivering previously signed orders, while purchasing activities are low.