Pepper price hits 147,000 VND/kg

Forecast of domestic pepper prices tomorrow

According to forecast, tomorrow's pepper price, December 2, 2024, domestic pepper price will remain unchanged compared to December 1, 2024, reaching 147,000 VND/kg.

Pepper price today December 1, 2024, domestic pepper price situation continues to increase compared to yesterday November 30, 2024. Specifically, Gia Lai, Ba Ria - Vung Tau and Binh Phuoc provinces all increased by 1,000 VND/kg; Dak Nong increased by 1,500 VND/kg, Dak Lak alone increased by 2,000 VND/kg.

Pepper price forecast tomorrow December 2, 2024 will be the same as yesterday December 1, 2024. Photo: Le Son

Accordingly, the pepper price today, December 1, 2024, Ba Ria - Vung Tau province is the locality with the lowest price, at 144,000 VND/kg; followed by Gia Lai and Binh Phuoc at 145,000 VND/kg; Dak Nong at 146,500 VND/kg; Dak Lak province alone reached 147,500 VND/kg.

The average pepper price today, December 1, 2024, is at 145,500 VND/kg, a sharp increase of 1,300 VND/kg compared to yesterday, November 30, 2024.

Forecast of world pepper prices tomorrow

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, the market was basically stable compared to the previous update, except for the Indonesian market which increased slightly.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,627 USD/ton; up 0.05%; the price of Muntok white pepper at 9,143 USD/ton, up slightly 0.13%.

The price of Brazilian ASTA 570 black pepper was stable at USD 6,000/ton. The price of Malaysian ASTA black pepper was at USD 8,400/ton; the price of this country's ASTA white pepper reached USD 10,500/ton.

Of which, the price of Vietnamese black pepper is stable at 6,200 USD/ton for 500 g/l, 550 g/l remains at 6,500 USD/ton; the price of white pepper is at 9,400 USD/ton, unchanged.

According to forecast, world pepper price tomorrow December 2, 2024, pepper price will remain stable, if there is any increase/decrease, it will not be significant, it may increase slightly in the Indonesian market.

Experts predict that the Chinese market will increase pepper imports next year. Currently, China only consumes about 10,000 tons of pepper this year, much lower than the average of 50,000 - 60,000 tons in previous years.

Currently, Vietnam has more than 115,000 hectares of pepper and spice crops. The South Central Coast and Central Highlands regions account for the majority of the area, with more than 75,300 hectares. The remaining area is concentrated in the Southern and Northern regions.

Vietnam is currently one of the world's largest pepper exporters, accounting for about 11% of the global market share (as of 2023). In the first 10 months of 2024, Vietnam exported 219,000 tons of pepper and spice products. Items such as pepper, cinnamon, and star anise have been successfully exported to large and potential markets such as the United States, the EU, China, India, and the Middle East.

*The above pepper price forecast is for reference only, the actual price will be officially available early tomorrow morning (December 2, 2024) on Congthuong.vn.