Pepper prices on December 28, 2024: Continue to rise sharply

The domestic and global pepper markets on December 28, 2024, recorded positive developments. Domestic pepper prices continued to rise sharply in key growing regions, while global pepper prices remained stable with some mixed adjustments.

Below is detailed information on pepper prices today, including domestic and international trends and market assessments.

Pepper prices on December 28 domestically

Today, pepper prices in the Central Highlands and Southeast regions continued to rise sharply, marking the second consecutive day of increases. The rise ranged from VND 500 to 1,000/kg, keeping domestic pepper prices at a high level of VND 146,000 to 147,000/kg.

In the Central Highlands, pepper prices in Dak Lak and Dak Nong reached the highest level at VND 147,000/kg, an increase of VND 1,000/kg compared to yesterday. Similarly, the Southeast region recorded the same price levels in Ba Ria - Vung Tau and Dong Nai. In Binh Phuoc, pepper prices rose by VND 500/kg, reaching VND 146,500/kg.

Pepper prices on December 28 globally

On the global market, pepper prices showed mixed adjustments across countries. While prices in Indonesia slightly decreased, prices in Malaysia increased. Pepper prices in Vietnam and Brazil remained stable at high levels.

In Indonesia, the price of black pepper from Lampung decreased by 0.26%, reaching $ 6,817/ton, while the price of white pepper from Muntok fell by 0.27% to $ 8,921/ton. Conversely, in Malaysia, pepper prices rose sharply, with Kuching ASTA black pepper increasing by 1.19% to $ 8,500/ton, and ASTA white pepper rising by 0.94% to $ 10,700/ton. Vietnam’s pepper prices remained stable at $ 6,400 – 6,700/ton for black pepper and $ 9,600/ton for white pepper.

Market assessment

According to the Agency of Foreign Trade (Ministry of Industry and Trade), the pepper market is benefiting from increased demand ahead of the year-end festive season, particularly in China. Meanwhile, Vietnam’s supply has declined due to adverse weather and a reduction in cultivation areas in recent years. These factors have been the main drivers of the recent sharp increase in pepper prices.

The domestic and global pepper markets on December 28, 2024, recorded numerous positive signals. Domestic pepper prices increased sharply, reaching the highest level of VND 147,000/kg in many localities. Internationally, pepper prices showed mixed adjustments but remained at high levels. With rising demand and decreasing supply, pepper prices are expected to continue their upward trend, presenting significant opportunities for Vietnam's pepper industry.

$ 1 = VND 25.208 - Source: Vietcombank.