Domestic pepper prices: Sharp decrease across the board
As of 1:00 p.m. today (February 24), domestic pepper prices have decreased compared to the closing session of the week, an average decrease of VND 1,000/kg. Currently, the purchase price ranges from 159,000 - 161,000 VND/kg. The average pepper purchase price nationwide remains at 159,800 VND/kg.
Ba Ria - Vung Tau, Binh Phuoc and Gia Lai are the 3 provinces that are simultaneously anchored at 159,000 VND/kg, down 1,000 VND/kg.
In the same direction, Dak Lak province recorded fluctuations when garden owners in this area sold to the market at 161,000 VND/kg, down 1,000 VND/kg. With this price, Dak Lak and Dak Nong provinces maintain their leading position among the provinces and cities with the highest purchasing prices in the country.
World pepper prices: Stable in the first session of the week
According to the International Pepper Community, on the trading floors, black and white pepper prices in the Indonesian market continued to increase. Black pepper prices remained unchanged at a slight increase of 0.27%, selling on the market at 7,287 USD/ton (equivalent to 187,131 VND/kg) and 10,127 USD/ton (equivalent to 260,062 VND/kg).
For the Brazilian market, the price of ASTA 570 black pepper traded in the middle of the week was at 6,800 USD/ton.
In the Malaysian market, ASTA black and white pepper prices remained unchanged, anchored at 9,500 USD/ton and 12,000 USD/ton, respectively.
In Vietnam, the export price of black pepper is unchanged, with 500 g/l traded at 6,500 USD/ton (equivalent to 166,920 VND/kg); 550 g/l is at 6,650 USD/ton (equivalent to 170,772 VND/kg). Similarly, the price of white pepper for export is at 9,550 USD/ton (equivalent to 245,244 VND/kg).
In the Indian market, pepper prices remained unchanged at 100 rupees/kg for most pepper cultivations. Garbled pepper costs 67,200 rupees/kg, (equivalent to 204.960 VND/kg), Ungarbled is listed at 65.200 rupees/kg, while gram/liter has the lowest price of 64,200 rupees/kg (exchanged at 195.810 VND/kg).
Assessment and forecast
In January, the US continued to be Vietnam's largest pepper export market, with a volume of 2,829 tons, equivalent to 21.7 million USD, accounting for 21.8% of the total volume and 24.8% of the country's total pepper export turnover, compared to the same period last year, the volume decreased sharply by 41.4% but the turnover increased by 8.5%.
Following that was the German market, reaching 1,326 tons, equivalent to nearly 9.4 million USD, accounting for over 10% of the country's pepper exports, up 37% in volume and 2.1 times in value compared to the same period last year.
Notably, according to data from the Vietnam Pepper and Spices Association (VPSA), pepper exports to the Chinese market increased by 2 times compared to the same period in 2024, reaching 947 tons. China's market share in Vietnam's total export volume also increased to 7.3% from 2.7%. However, the export volume to this market is still 45% lower than the same period in 2023.
According to data from the General Department of Customs, from February 2017 to present, Vietnam's average export price in the first month of the year reached 6,756 USD/ton. This is the highest level in the past 9 years, up 2.3% compared to the previous month and up to 68.9% compared to January 2024. Export volume to markets fluctuated unevenly, in general, the turnover value still increased compared to the same period last year.
