Pepper prices skyrocket after Tet holiday
After the Lunar New Year holiday, pepper prices skyrocketed and today (February 10) jumped to nearly 170,000 VND/kg.
In the Central Highlands provinces, when the coffee crop has just ended right after the Tet holiday, farmers are preparing to start the pepper harvest. Mr. Luu Nhu Binh, Director of Doan Ket Cooperative (Dak Song District, Dak Nong Province) said: In the past few days, farmers have been very excited because pepper prices are increasing day by day. Currently, the price is at 160,000 VND/kg, the highest in many years. In particular, this is the stage of preparing to enter the pepper harvest, but the price has increased, which is very good news, people are excited about the new harvest.
Before Tet, pepper prices remained high at 145,000 - 147,000 VND/kg. In the first week after Tet, pepper prices increased day by day and by the end of last week, many places reached 160,000 VND/kg, nearly double the same period last year.
The price of Vietnamese black pepper is at 6,500 - 6,650 USD/ton; the price of Indonesian Lampung black pepper is 7,276 USD/ton; Brazilian ASTA 570 black pepper is 6,500 USD/ton; and Malaysian Kuching black pepper is 9,000 USD/ton.
Vietnam's white pepper price remains at the lowest level of 9,550 USD/ton; Malaysian ASTA white pepper price is 11,600 USD/ton; Indonesian Muntok white pepper is 9,770 USD/ton.
On the afternoon of February 10, answering Thanh Nien, Mr. Phan Minh Thong - Chairman of Phuc Sinh Group, who is known as the "king of Vietnamese pepper" said: The price of 160,000 VND was the price last week. Today, the price of pepper has increased to 168,000 - 170,000 VND/kg. The skyrocketing price of pepper is due to high consumption demand while our supply and inventory are limited. Meanwhile, the harvest season is delayed by about 1 month compared to usual due to changes in the weather. Those are the main features of the Vietnamese and world pepper markets in the past few days.
Ms. Hoang Thi Lien - President of the Vietnam Pepper and Spice Association (VPSA) was more cautious when sharing that the increase in pepper prices has many different causes. This agency is continuing to 'listen' to know the exact cause before making any analysis.
According to the Ministry of Agriculture and Rural Development, in January 2025, Vietnam's pepper exports reached 13,000 tons, down 25.6% over the same period last year; the value reached 87 million USD, up nearly 24%, the average pepper export price in January reached 6,663 USD/ton, up 66.4% over the same period in 2024.
In 2024, Vietnam's pepper exports will reach nearly 250,000 tons, down 6% in volume but with a value of 1.3 billion USD, up 44% compared to 2023. The average export price of pepper is 5,271 USD/ton, up nearly 54% compared to the previous year.
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