Pepper price today February 27, 2025: Pepper export price increased unexpectedly
Today's domestic pepper price, February 27, is at 157,000 - 159,000 VND/kg. A sharp decrease of 1,000 VND/kg compared to yesterday. Pepper prices have decreased for 3 consecutive days with no signs of stopping. On the contrary, pepper export prices suddenly increased sharply.
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. Decreased 1,000 VND/tael compared to yesterday.
In Gia Lai, pepper price is 157,000 VND/kg. Unchanged compared to yesterday.
In Dak Lak, pepper price is 159,000 VND/kg. A sharp decrease of 1,000 VND/tael compared to yesterday.
In Binh Phuoc and Dong Nai, pepper price today is at 157,000 VND/kg. Unchanged compared to yesterday.
In Ba Ria - Vung Tau, pepper price today is at 157,000 VND/kg. Unchanged compared to yesterday.
Thus, today's pepper price in the domestic market is currently at its lowest price of 157,000 VND/kg.
Pepper prices have decreased for three consecutive days with no signs of stopping, with a synchronous decrease of 2,000 VND/kg in the Central Highlands and Southeast provinces.
At the annual conference of the Vietnam Pepper and Spice Association (VPSA) held in mid-January this year, Mr. Ho Tri Nhuan, Director of Gohan Company Limited, commented that the demand for pepper in the US in 2024 is expected to increase by only 5%. However, due to concerns about high prices, importers have increased purchases for storage, causing actual purchases to increase by 30-40%. As a result, farmers and pepper storage units have the opportunity to sell at high prices right from the beginning of the season and earn good profits.
Meanwhile, many exporting enterprises encountered difficulties due to selling early under long-term contracts with US customers. When the time came for delivery, pepper prices increased sharply, causing them to suffer heavy losses. This is an important lesson in market assessment, especially when the US market tends to sign long-term purchase contracts, while Vietnamese enterprises often sell first and then buy goods for later delivery. This shows the need for supply chain linkages and more accurate price forecasts.
Forecasting for 2025, China is expected to increase pepper purchases as soon as Vietnam enters its main harvest in March - April. Meanwhile, the US may buy more slowly due to remaining inventory from 2024. In addition, Vietnamese pepper will also face competitive pressure from other producing countries.
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 27 (local time) as follows:
Indonesian Lampung black pepper prices decreased slightly compared to yesterday, reaching 7,318 USD/ton (down 0.44%). In addition, Muntok white pepper prices also decreased slightly compared to yesterday, reaching 10,074 USD/ton (down 0.43%).
Brazilian black pepper ASTA 570 price increased slightly compared to yesterday at 6,850 USD/ton (up 0.73%).
Malaysia's ASTA black pepper price is stable compared to yesterday at 9,500 USD/ton. In addition, the country's ASTA white pepper price is also stable compared to yesterday at 12,000 USD/ton.
Prices of all types of pepper in Vietnam increased unexpectedly compared to yesterday. Of which, the price of Vietnamese black pepper 500 gr/l reached 6,900 USD/ton (up 5.8%); 550 gr/l reached 7,100 USD/ton (up 6.34%).
Similarly, Vietnam's white pepper price increased sharply compared to yesterday, reaching 9,900 USD/ton (up 3.54%).
In 2024, US pepper imports recovered strongly after two consecutive years of decline due to the impact of inflation and high interest rates. According to data from the US International Trade Commission (USITC), the US is the world's largest pepper importer with a total of 97,974 tons, worth 540.45 million USD. Compared to 2023, the import volume increased by 41.9%, while the import value increased by 66%.
In terms of supply, the US imported pepper from more than 50 different markets. Of which, Vietnam was the largest supplier, accounting for 77.2% of total import volume and 76.8% of total value. Specifically, the US imported 75,602 tons of pepper from Vietnam, worth 403.5 million USD, up 41.7% in volume and 72.3% in value compared to 2023.
In addition to Vietnam, the US also increased imports from other major markets. Pepper from India reached 7,750 tons, up 19.4%. Notably, imports from Indonesia doubled to 7,708 tons, up 110.2% over the previous year.
In terms of export prices, Vietnamese pepper to the US in 2024 will average $5,338/ton, up 21.6% compared to 2023. Pepper from India will cost $5,500/ton, up 11.2%. In contrast, import prices from Indonesia will decrease by 7.8%, to only $5,444/ton.