Pepper price today February 23, 2025: Domestic price increased slightly, pepper export output increased by more than 20%
Today's domestic pepper price on February 23, 2025 is at 160,000 - 162,000 VND/kg. Today's pepper price increased slightly by 1,000 VND/kg compared to yesterday. The average export pepper price is the highest in the past 9 years.
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 162,000 VND/kg.
Specifically, in Dak Nong province, pepper price is at 162,000 VND/kg. Unchanged compared to yesterday.
In Gia Lai, pepper price is 160,000 VND/kg. Increased 1,000 VND/kg compared to yesterday.
In Dak Lak, pepper price is 162,000 VND/kg. Increased 1,000 VND/kg compared to yesterday.
In Binh Phuoc and Dong Nai, pepper price today is at 160,000 VND/kg. An increase of 1,000 VND/kg compared to yesterday.
In Ba Ria - Vung Tau, pepper price today is at 160,000 VND/kg. Unchanged compared to yesterday.
Thus, today's pepper price in the domestic market is currently at its lowest price of 160,000 VND/kg.
Pepper prices in Gia Lai have surpassed 150,000 VND/kg. This is the highest level in nearly 10 years, since 2016.
Gia Lai province currently has about 7,500 hectares of pepper. The average yield is about 3.5 tons/ha. High prices, along with relatively stable yields, have helped farmers earn high profits.
Pepper prices have increased sharply due to a significant reduction in pepper growing areas over the past decade as farmers switched to other crops such as coffee and durian. At the same time, demand has increased in European and American markets.
If pepper growers continue to hold on to their stocks, prices may not fall too far. On the contrary, if many households decide to sell when prices are high, prices may adjust further down. In addition, farmers should invest in sustainable production models to ensure long-term profits, even when prices fluctuate.
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 all types of pepper traded in the international market on February 23 (local time) as follows:
Indonesian Lampung black pepper prices remained unchanged from yesterday at $7,287 per tonne. Similarly, Muntok white pepper prices were also unchanged from yesterday at $10,127 per tonne.
Brazilian black pepper ASTA 570 price remained unchanged from yesterday at $6,700/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.
According to the Vietnam Pepper Association, pepper exports to the US in January 2025 increased by more than 20% compared to the same period last year. In addition, harsh weather and diseases on pepper plants also affected output, causing supply to continue to shrink.
According to the General Department of Customs, Vietnam's pepper exports in the first half of February 2025 reached 6,154 tons, equivalent to 41.5 million USD, down 3.6% in volume and 2.2% in value compared to the first half of January.
Cumulatively from the beginning of the year to February 15, pepper exports reached 19,083 tons, worth 128.8 million USD, down 17.2% in volume but recording a sharp increase of nearly 39% in value compared to the same period last year. This reflects a decline in export volume since the second half of last year, due to increasingly depleted supplies from the old crop, while the new harvest was delayed due to adverse weather conditions.
In particular, the average export price of pepper from the beginning of the year to date has reached 6,749 USD/ton, an increase of 67.7% (equivalent to 2,725 USD/ton) over the same period last year, which is also the highest price in the past 9 years.