"Black Gold" Enters a New Price Increase Cycle?
In the domestic market
Survey shows that pepper prices today are still stable at around 147,000 - 148,000 VND/kg. However, compared to the end of last year, the price of this item in the Central Highlands has increased by 1,200 - 1,500 VND/kg.
Specifically, pepper prices in Dak Lak and Dak Nong provinces reached the highest level of 148,200 VND/kg, an increase of 1,200 VND/kg compared to the end of last year.
Similarly, black pepper prices in Gia Lai province have increased by VND1,500/kg since the beginning of the year, to VND147,500/kg.
In other localities in the Southeast region such as Ba Ria - Vung Tau, Dong Nai and Binh Phuoc, pepper prices remained unchanged at 147,000 VND/kg.
|
Province/district (survey area) |
Purchase price on February 3 (Unit: VND/kg) |
Change compared to the end of 2024 (Unit: VND/kg) |
|
Dak Lak |
148,000 |
+1,000 |
|
Gia Lai |
147,500 |
+1,500 |
|
Dak Nong |
148,200 |
+1,200 |
|
Ba Ria – Vung Tau |
147,000 |
– |
|
Binh Phuoc |
147,000 |
– |
|
Dong Nai |
147,000 |
– |
In the world market
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Indonesian Lampung black pepper at 7,165 USD/ton, Brazilian ASTA 570 black pepper at 6,150 USD/ton and Malaysian Kuching black pepper at 9,000 USD/ton.
Vietnam black pepper prices continued to move sideways at around 6,350 USD/ton for 500 g/l and 6,650 USD/ton for 550 g/l.
Compared to the end of last year, black pepper prices in Indonesia and Malaysia increased sharply by 4.5 - 5.9%, while Brazil and Vietnam witnessed a decrease of 0.7 - 2%.
|
Type name |
World black pepper price list |
|
|
February 3 (Unit: USD/ton) |
% change from end of 2024 |
|
|
Lampung Black Pepper (Indonesia) |
7,165 |
4.5 |
|
Brazilian Black Pepper ASTA 570 |
6.150 |
-2.0 |
|
Kuching Black Pepper (Malaysia) ASTA |
9,000 |
5.9 |
|
Vietnamese black pepper (500 g/l) |
6,350 |
-0.8 |
|
Vietnamese black pepper (500 g/l) |
6,650 |
-0.7 |
At the same time of survey, the price of Indonesian Muntok white pepper stood at 9,672 USD/ton. Meanwhile, the price of Vietnamese white pepper remained stable at 9,550 USD/ton and Malaysian ASTA white pepper was 11,600 USD/ton.
Since the beginning of the year, the price of white pepper in Indonesia has increased by 7.8%, Malaysia increased by 8.4%, and Vietnam decreased by 0.5%.
|
Type name |
World white pepper price list |
|
|
February 3 (Unit: USD/ton) |
% change from end of 2024 |
|
|
Muntok Indonesian White Pepper |
9,672 |
7.8 |
|
ASTA Malaysian White Pepper |
11,600 |
8.4 |
|
Vietnam white pepper |
9,550 |
-0.5 |
Update pepper information
Many previous forecasts have said that in the next few years, global pepper production will still not be enough to meet consumer demand. Therefore, prices will start to increase sharply from 2024, helping this industry in Vietnam enter a new golden age.
“With the current situation, global pepper production cannot meet the increasing demand in the next 3-5 years. In our country, this strong grain is entering a new price increase cycle, making up for the years when prices were too low,” said Ms. Hoang Thi Lien, Chairwoman of the Vietnam Pepper and Spice Association (VPSA).
In pepper growing areas in our country, farmers are also calmer in the face of price fever. Instead of growing pepper purely and massively expanding the area, they now focus more on quality, switch to sustainable farming, choose intercropping to reduce investment costs and adapt to climate change.
In addition to exporting raw products , businesses also aim to make value-added products to target niche markets, while building a high-quality Vietnamese pepper brand, according to Vietnamnet Newspaper .
According to VietnamB
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