China and the US consume strongly again, pepper price increases to reach 165,000 VND/kg

The domestic pepper price market on February 12 increased sharply, with an increase of 3,000 - 4,500 VND/kg compared to the previous day, pushing the highest pepper price up to 164,000 VND/kg.

Domestic pepper prices increased to 165,000 VND/kg, Vietnamese pepper exports also increased - Photo: QUANG DINH

On February 12, speaking with Tuoi Tre Online , Ms. Hoang Thi Lien - President of the Vietnam Pepper and Spice Association (VPSA) - explained that the main reason for the high increase in pepper prices in recent days is due to supply and demand, many markets in the world have increased purchases, especially the two important markets of China and the US.

"The Vietnamese pepper market is compressed due to the Tet holiday, 10 days of no transactions, no packing. After Tet, demand from all over the world returns, increasing purchases. Pepper prices will increase daily, partly due to predictions based on supply and demand.

Increasing purchasing prices when pepper in the Central Highlands provinces is in harvest season is also due to the psychology of businesses and partners wanting to have new sources of goods," Ms. Lien explained.

On February 12, the domestic pepper market recorded that in Gia Lai, pepper was 162,500 VND/kg (an increase of 4,500 VND compared to February 11); in Ba Ria - Vung Tau, it was 161,000 VND/kg, Dak Nong, it was 163,000 VND/kg, but the pepper price in these two localities both increased by 3,000 VND compared to the previous day.

Similarly, pepper prices in Dak Lak and Binh Phuoc increased by more than VND 4,000/kg, at VND 164,000/kg and VND 162,000/kg, respectively.

In the world market, the price picture of pepper depends on each market, some places are stable, some places are stuck at high levels. Pepper in Indonesia continues to decrease slightly.

According to the International Pepper Community (IPC), the price of Indonesian Lampung black pepper is currently at 7,251 USD/ton (down 14 USD/ton); the price of Muntok white pepper is currently purchased at 10,010 USD/ton (down 18 USD/ton) compared to the previous trading session.

The Malaysian pepper market continues to remain stable and at a high level, with black pepper purchased at 9,000 USD/ton and white pepper at 11,600 USD/ton.

Pepper prices in Brazil continued to increase by 200 USD/ton compared to the previous trading session, remaining at a fairly high level, currently purchasing at 6,700 USD/ton.

Vietnam's pepper exports are also stable and increasing, with black pepper prices around 6,500 USD/ton and white pepper prices at 9,550 USD/ton.

Commenting on the general picture of the pepper market, many experts believe that this year's decrease in output in some places will help pepper prices continue to remain high; consumption demand is stable;

The purchasing pace of important markets such as the US and China increased by 10-15%... so we can expect a big year, including for Vietnamese pepper.

In just 15 days, Vietnam's pepper exports increased by nearly 62% in value.

According to the General Department of Customs, in the first half of January 2025, Vietnam exported 7,313 tons of pepper with a total turnover of 48.3 million USD, down 3% in volume but up 61.86% in value over the same period in 2024.

In addition, export enterprises said that the demand from the Chinese market to buy and export to a third country, India, is quite strong. Other markets such as the US and EU are buying Vietnamese black pepper with many orders for near and far delivery.

Currently, pepper in the Central Highlands is in harvest season, prices have many positive signals, global consumption demand is increasing, so in 2025 it is expected that there will be opportunities for development for the pepper production and export industry.

Source: https://tuoitre.vn/trung-quoc-va-my-tieu-thu-manh-tro-lai-gia-tieu-tang-cham-nguong-165-000-dong-kg-20250212135034725.htm