Domestic pepper prices: Strong fluctuations, price increase for the second consecutive week
As of 11:30 today (February 16), domestic pepper prices remain unchanged compared to the previous trading session, currently the purchase price fluctuates between 157,000 - 160,000 VND/kg. The average pepper purchase price nationwide today is 158,400 VND/kg.
Domestic pepper prices fluctuated strongly last week when they skyrocketed by 4,000 - 6,000 VND/kg, surpassing the threshold of 160,000 VND/kg in the middle of the week. However, this item immediately had a 4-day series of price drops, falling to 157,000 - 160,000 VND/kg at the end of the week.
Summarizing domestic pepper prices this week, the domestic pepper market increased by 1,000 - 2,000 VND/kg compared to last week and recorded the second consecutive price increase after Tet.
Of which, pepper prices in Dak Lak province increased the most by VND 2,000/kg, the remaining localities increased by VND 1,000/kg. The price of pepper in Binh Phuoc remained unchanged compared to the trading session last week.
World pepper prices: High increase, maintain stability
At the end of last week, according to the International Pepper Company (IPC), Indonesia's black pepper price was listed at 7,294 USD/ton, up slightly by 0.2% compared to last week. Indonesia's white pepper prices last week increased to 298 USD/ton, to 10,068 USD/ton.
Notably, the price of ASTA 570 Brazilian black pepper increased sharply by 4.6% (equivalent to 300 USD/ton) last week, to 6,800 USD/ton.
Meanwhile, Malaysia's black pepper prices remain stable at 9,000 USD/ton
Similarly, the price of Vietnamese black pepper is still at the lowest level of 6,500 USD/ton for the 500 g/l type and 6,650 USD/ton for the 550 g/l type. Traders purchasing white pepper in Vietnam are lower than other markets at 9,550 USD/ton.
In the Indian market, pepper prices remained unchanged in most pepper prices at the end of the week. Garbled pepper costs 67,900 rupees/kg, (equivalent to 206,050 VND/kg), Ungarbled is listed at 65.900 rupees/kg, while gram/liter has the lowest price of 64,900 rupees/kg (exchanged at 196,946 VND/kg).
Assessment and forecast
Pepper prices may continue to increase in the short term, especially if the Chinese market - one of the largest customers of Vietnamese pepper - increases imports again. However, pepper prices may stagnate as supply from the new harvest is gradually replenished.
Currently, domestically, farmers in localities are focusing on harvesting pepper. However, it is forecasted that the output of pepper in some areas will decrease due to the impact of the weather.
According to the International Pepper Community (IPC), global pepper output is forecast to continue to decrease in 2025, especially in Vietnam and Brazil - the two largest pepper exporters in the world. This community estimates that world pepper output will decrease by about 4%, equivalent to 22,000 tons. IPC believes that the decline in output may push pepper prices in the world market up this year.
