Pepper price today February 9, 2025: Sharp increase due to increasingly low output
Today's domestic pepper price, February 9, is at 156,000 - 159,000 VND/kg. A sharp increase of 1,000 - 2,000 VND/kg compared to yesterday. Pepper prices have increased for the 6th consecutive day, output is expected to decrease by about 5 - 10%.
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 159,000 VND/kg.
Specifically, in Dak Nong province, pepper price is at 159,000 VND/kg. An increase of 2,000 VND/kg compared to yesterday.
In Gia Lai, pepper price is 156,000 VND/kg. Increased 2,000 VND/kg compared to yesterday.
In Dak Lak, pepper price is 158,000 VND/kg. Increased 2,000 VND/kg compared to yesterday.
In Binh Phuoc and Dong Nai, pepper price today is at 157,000 VND/kg. An increase of 1,000 VND/kg compared to yesterday.
In Ba Ria - Vung Tau, pepper price today is at 157,000 VND/kg. An increase of 2,000 VND/kg compared to yesterday.
Thus, today's pepper price in the domestic market is currently at its lowest price of 156,000 VND/kg.
This year, the unstable weather has led to a decrease in pepper output and uneven ripening. To ensure quality, most farmers in Dak Nong province have just started harvesting after the Tet holiday. Although productivity has decreased somewhat, pepper prices are showing many positive changes, bringing joy and great expectations to farmers, opening up prospects for a successful crop.
Experts predict that the global pepper supply will not be enough to meet the increasing demand, causing prices to increase sharply from the beginning of 2025, opening up development opportunities for the "black gold" production and trading industry.
In 2024, many businesses in the pepper industry recorded growth rates of 32-68%, with some companies achieving export revenue growth of up to 150% compared to 2023. However, pepper exports to China decreased sharply, reaching only 10,549 tons, down 82.4% in volume and 76.6% in value compared to 2023.
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 February 9 (local time) as follows:
Indonesia's Lampung black pepper price increased slightly compared to yesterday to reach 7,276 USD/ton (up 0.03%). In addition, Muntok white pepper price also increased slightly compared to yesterday to reach 9,770 USD/ton (up 0.03%).
Brazilian black pepper ASTA 570 price remained unchanged from yesterday at $6,500/mt.
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 stable compared to yesterday. Of which, the price of 500 gr/l black pepper in Vietnam reached 6,500 USD/ton; 550 gr/l reached 6,650 USD/ton.
Similarly, Vietnam's white pepper price remained unchanged from yesterday at $9,550/ton.
The high price of durian has pushed the area planted with this tree in Vietnam to 150,787 hectares, with an output of nearly 1.2 million tons/year.
Much of the increase in durian acreage comes at the expense of pepper and coffee acreage.
In addition, land prices in Vietnam have increased sharply from 2020 to 2023, causing many farmers to convert pepper growing land into real estate projects.
This trend is expected to continue, with pepper growing areas decreasing further by 2025. Ptexim forecasts that Vietnam’s pepper output in 2025 will decrease by about 5-10% compared to 2024. At the same time, inventories are at a five-year low and Vietnam will continue to import more pepper from other countries for processing and production.