Pepper price today February 24, 2025: Increased for the third consecutive week
Today's domestic pepper price on February 24, 2025 is at 160,000 - 162,000 VND/kg. Today's pepper price increased slightly from 2,000 to 3,000 VND/kg compared to last week. Black pepper price is forecasted to increase sharply in the coming years.
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 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. Unchanged compared to yesterday.
In Dak Lak, pepper price is 162,000 VND/kg. Unchanged compared to yesterday.
In Binh Phuoc and Dong Nai, pepper price today is at 160,000 VND/kg. Unchanged compared to yesterday.
In Ba Ria - Vung Tau, pepper price today is at 160,000 VND/kg. No change compared to yesterday.
Thus, today's pepper price in the domestic market is currently at its lowest price of 160,000 VND/kg.
Overall, last week, domestic pepper prices increased by about 2,000 to 3,000 VND/kg compared to the previous week. This is the third consecutive week of pepper price increase.
Specifically, pepper prices last week in Dak Lak and Dak Nong provinces both increased by VND2,000/kg. These are also the two provinces with the highest purchasing prices on the market.
Similarly, pepper prices in Ba Ria - Vung Tau and Dong Nai provinces also increased by VND2,000/kg. Meanwhile, in Gia Lai and Binh Phuoc provinces, pepper prices increased the most by VND3,000/kg.
The increase in domestic pepper prices is supported by purchasing demand from export enterprises and reduced output in some regions. However, the market has not yet had a strong breakthrough because China - one of Vietnam's largest import markets - has not shown signs of strong recovery.
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 February 24 (local time) as follows:
Indonesia’s Lampung black pepper price remained unchanged from yesterday at $7,287 per tonne. Similarly, Muntok white pepper price remained unchanged from yesterday at $10,127 per tonne.
Brazilian black pepper ASTA 570 price remained unchanged from yesterday at USD 6,700/mt.
Malaysia’s ASTA black pepper price is stable compared to yesterday at USD 9,000/ton. In addition, the country’s ASTA white pepper price is also stable compared to yesterday at USD 11,600/ton.
Prices of all types of Vietnamese pepper remained stable compared to yesterday. Of which, the price of Vietnamese black pepper 500 gr/l 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 USD/ton.
In the first months of 2025, the US and Germany took the lead in Vietnam's pepper consumption, with imported pepper reaching 2,829 tons and 1,326 tons, respectively. However, the Chinese market has not shown signs of strong recovery, causing pepper exports to this market to not have a significant improvement.
The Vietnam Pepper and Spices Association (VPSA) believes that the global pepper market outlook in 2025 will continue to be positive. Pepper output is forecast to decrease amid extreme weather affecting productivity in many countries.
This creates opportunities for the pepper export industry, especially in the Chinese market, which, despite low pepper imports from Vietnam in 2024, is expected to increase demand as soon as Vietnam enters the main harvest season.
Although the new pepper harvest has begun, many domestic speculators, including financially strong farmers and dealers, continue to stock up on goods, because they expect black pepper prices to increase sharply in the coming years.