Pepper prices on December 24, 2024: Drop by VND 1,000 domestically

Pepper prices on December 24 globally

Globally, pepper prices are rising significantly in Indonesia.

Specifically, Lampung black pepper in Indonesia saw a strong increase of 1.48%, reaching $ 6,840/ton. Meanwhile, Muntok white pepper rose by 0.44%, trading at $ 8,950/ton.

Kuching ASTA black pepper from Malaysia is priced at $ 8,400/ton, while ASTA white pepper from the same country is trading at $ 10,600/ton.

In the Brazilian market, ASTA 570 black pepper is being traded at $ 6,275/ton.

In Vietnam, exported black pepper of the 500 g/l grade is trading at $ 6,400/ton, while the 550 g/l grade is priced at $ 6,700/ton. Exported white pepper is currently at $ 9,600/ton.

Global pepper prices today remained mostly stable, with the exception of a significant price increase for pepper in Indonesia.

Thus, global pepper prices on December 24, 2024, saw a notable increase in Indonesia compared to yesterday.

Pepper prices on December 24 domestically

In the domestic market, pepper prices today reversed and decreased compared to yesterday.

Specifically, in Dak Lak province, the purchase price remains at VND 145,000/kg.

In Dak Nong province, the price of pepper dropped by VND 300, reaching VND 145,000/kg.

In Gia Lai province, pepper is being traded at VND 144,000/kg, a slight decrease of VND 500.

In Dong Nai province, traders are purchasing pepper at VND 144,000/kg, down by VND 1,000.

In Ba Ria - Vung Tau province, the price of pepper decreased by VND 500, settling around VND 145,000/kg.

Finally, in Binh Phuoc province, traders are offering pepper at VND 144,000/kg, a decrease of VND 1,000.

Today, domestic pepper prices remained stable in Dak Lak but decreased by VND 300 - 1,000 in other key regions.

According to experts, the drop in domestic prices is due to sluggish global demand. Most markets have already accumulated enough stock for the first quarter of the next year.

Forecasts for the next 3-5 years indicate that global pepper production will not be enough to meet consumption demand. Agricultural experts also agree that pepper has entered a new cycle of price increases.

Currently, Vietnam is one of the top three spice producers and exporters in the world. According to statistics, there are 35 pepper processing factories nationwide that meet ISO, HACCP, BRC, ESA, and ASTA standards, with a processing capacity of about 140,000 tons per year.

Thus, domestic pepper prices on December 24, 2024, are trading around VND 144,000 - 145,000/kg.

$ 1 = VND 25.193 - Source: Vietcombank.