Domestic pepper price today January 1, 2025 keeps increasing

 

 

Domestic pepper price today January 1, 2025, online pepper price, Dak Lak pepper price, Dak Nong pepper price, Binh Phuoc pepper price, Gia Lai pepper price, daily pepper price 1/1.

Domestic pepper price today

Today's pepper price was updated at 4:30 am on January 1, 2025 as follows, domestic pepper price has increased and decreased slightly compared to the previous trading session and is anchored at a fairly high level. Currently, the average pepper purchase price in localities is 146.900 VND/kg.

Specifically, pepper prices today are at Gia Lai continued to increase by 500 VND/kg compared to the previous trading session, currently the local purchase price is 146.500 VND/kg. Similarly, pepper prices in localities such as the province Binh Phuoc, Ba Ria - Vung Tau, Dak Nong, Dak Lak is anchored at a fairly high level and is purchased at 147.000 VND/kg.

 

Experts predict that pepper prices will continue to enter a new upward cycle in 2025 due to many factors. First, global supply is reduced due to the impact of drought and adverse weather. Second, high transportation costs also push up product prices. Finally, the US Federal Reserve (FED)'s interest rate cut is expected to stimulate economic activity in major importing countries, potentially increasing demand for Vietnamese pepper in key markets such as the US and EU.

The US, Germany and UAE markets continue to be Vietnam's largest pepper export markets, accounting for 44,1% of the market share. This shows the stability and development potential of these markets. However, China's sharp reduction in pepper imports from Vietnam in 2024 has been surprising. The main reason is believed to be that China has stockpiled goods in advance, leading to a short-term decline in demand.

The Vietnam Pepper and Spice Association (VPSA) expects the Chinese market to buy more actively next year. This year, China only bought about 10.000 tons, while other markets have bought heavily, reducing purchasing pressure right at the beginning of the season.

Pepper gardens full of fruit are grown in Duc Trong district, Lam Dong province.

According to experts, the impact of the prolonged drought will delay the 2025 pepper harvest by about 2 months, causing difficulties in supplying the market. Therefore, import markets have increased their purchases to meet the demand until the first quarter of 2025.

According to VPSA, Vietnam's pepper exports to China in the first 11 months of the year (including official and unofficial channels) reached 9.661 tons, down 83,6% over the same period.

This result caused China to fall to the 6th position as Vietnam's largest pepper export market, from the number one position last year. At the same time, China's proportion in Vietnam's total pepper exports also decreased to 4,1% from 24% in the same period.

Pepper price world today

Update on world pepper prices from the International Pepper Community (IPC) at 4:30 a.m. on January 1, 2025 as follows: the world pepper market continues to maintain a fairly high level and stable prices.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 6.855 USD/ton, similar to the price of Muntok white pepper purchased at 8.970 USD/ton.

Besides, pepper markets in other countries remain high; Malaysian ASTA black pepper is purchased at 8.500 USD/ton; ASTA white pepper is at 10.700 USD/ton.

The price of Brazilian black pepper ASTA 570 continues to remain stable at a fairly high level, currently at 6.275 USD/ton.

The export price of Vietnamese black pepper is stable, increasing slightly; currently reaching 6.400 USD/ton for 500 g/l and 550 USD/ton for 6.700 g/l; the price of white pepper is high at 9.600 USD/ton.

According to data from the China Customs Administration, in the first 11 months of 2024, China imported a total of 9.677 tons of pepper of all kinds worth 54,4 million USD, up 15,1% in volume and 42,1% in value over the same period in 2023. Of which, the main reason was imports from Indonesia - the largest pepper supplier to China, reaching 5.141 tons, up sharply by 41,7% over the same period last year and accounting for 56,2% of the market share.

Next, imports from Vietnam reached 3.021 tons, up 3,8% over the same period and accounting for 31,2% of market share.

Thus, Indonesia and Vietnam account for a total of 87,5% of pepper supply to China in 11 months of 2024.

Sources: https://congthuong.vn/gia-tieu-trong-nuoc-hom-nay-ngay-112025-giu-da-tang-367290.html