Pepper prices on December 3, 2024: Domestic market remains calm

Pepper prices on December 3 globally

Globally, pepper prices on December 3 showed uneven movements.

Specifically, the price of black pepper from Lampung, Indonesia, rose by 0.78% to $ 6,679/ton. Meanwhile, the price of Muntok white pepper from the same country decreased by 0.31% to $ 9,115/ton.

In Malaysia, Kuching ASTA black pepper was priced at $ 8,300/ton (down 1.2%), while ASTA white pepper traded at $ 10,500/ton.

In Brazil, ASTA 570 black pepper was traded at $ 6,150/ton.

In Vietnam, the export price for 500 g/l black pepper stood at $ 6,200/ton, while 550 g/l black pepper was priced at $ 6,500/ton. The export price for white pepper remained at $ 9,400/ton.

Global pepper prices today showed mixed movements. Among them, Indonesian white pepper prices slightly decreased, Malaysian black pepper prices dropped significantly, while Indonesian black pepper saw a relatively good increase.

Thus, global pepper prices on December 3, 2024, experienced mixed changes compared to the previous day.

Coffee prices on December 3 domestically

In the domestic market, pepper prices on December 3 mostly remained unchanged from the previous day.

Specifically, Dak Lak maintained its pepper purchasing price at VND 147,000/kg.

Pepper prices in Dak Nong today continued to hold at VND 146,500/kg.

The price of pepper in Gia Lai today was at VND 145,500/kg, an increase of VND 500.

Traders in Dong Nai continued to buy pepper at VND 145,000/kg.

The price of pepper in Ba Ria - Vung Tau remained steady at VND 144,000/kg.

Meanwhile, traders in Binh Phuoc were trading at VND 145,000/kg.

Domestic pepper prices today saw only a slight increase of VND 500 in Gia Lai. As a result, this agricultural product continues to have its highest price at VND 147,000/kg.

Ms. Hoang Thi Lien, President of the Vietnam Pepper Association (VPSA), stated that Vietnam's pepper exports are estimated to reach $ 1.4 billion this year, setting a new record for the industry.

This achievement is attributed to the recent upward price cycle of pepper, which is currently maintaining a level nearly double that of previous years.

Currently, the country has over 115,000 ha of pepper and spice crops, with more than 75,300 ha concentrated in the South Central Coast and Central Highlands regions. However, the pepper sector is facing numerous challenges.

Among these challenges are climate change, shrinking cultivation areas, and the rising costs of irrigation and disease prevention to maintain productivity. These factors significantly affect competitiveness.

Experts note that pepper prices have transitioned out of their downward cycle and are now entering an upward trend due to declining supply. However, as the demand for early-harvest purchases is not yet high, farmers are advised not to rush into selling their pepper prematurely. Particularly, they should avoid borrowing capital to stockpile pepper to mitigate risks from market fluctuations.

Thus, as of December 3, 2024, domestic pepper prices are trading around VND 144,000 - 147,000/kg.

$ 1 = VND 25.140 - Source: Vietcombank.