Domestic pepper prices: No change in the first session of the week
As of 11:30 today (March 3), domestic pepper prices remained unchanged compared to the closing session of the week, currently the purchase price fluctuated between 157,000 - 159,000 VND/kg. The average pepper purchase price nationwide remains at 158,000 VND/kg.
Ba Ria - Vung Tau and Gia Lai are the two provinces that are simultaneously anchored at 157,000 VND/kg.
After recording a sharp increase of VND 2,000/kg, Binh Phuoc province is currently maintaining the purchase price at VND 158,000/kg.
Notably, Dak Lak and Dak Nong provinces have maintained the highest pepper purchasing prices in the country for more than a week, listed at 159,000 VND/kg.
World pepper prices: Extending a series of deep declines
According to the International Pepper Community, on trading floors, black and white pepper prices on the Indonesian market both decreased, trading floors were red. Black pepper prices remained at a decrease of 0.87%, listed at 7,235 USD/ton (equivalent to 186,157 VND/kg). Similarly, white pepper prices continued to decline by 0.88%, currently listed at 9,959 USD/ton (equivalent to 256,246 VND/kg).
For the Brazilian market, the price of ASTA 570 black pepper was trading at 6,850 USD/ton, unchanged from the closing price of last week's session.
In the Malaysian market, ASTA black and white pepper prices remained unchanged, anchored at 9,700 USD/ton and 12,200 USD/ton, respectively.
Notably, in Vietnam, black pepper prices for export remained unchanged after a period of mixed increases and decreases. The 500 g/l type is traded at 6,900 USD/ton (equivalent to 177,537 VND/kg); the 550 g/l type increased sharply by 6.34%, currently at 7,100 USD/ton (equivalent to 182,683 VND/kg). Similarly, the price of white pepper for export is at 9,900 USD/ton (equivalent to 254,727 VND/kg).
In the Indian market, pepper prices are sluggish in most types of pepper. Garbled pepper costs 67,200 rupees/kg, (equivalent to 203,805 VND/kg), Ungarbled is listed at 65.200 rupees/kg, while gram/liter has the lowest price of 64,200 rupees/kg (exchanged at 194,706 VND/kg).
Assessment and forecast
According to data from the General Department of Customs, in January this year, Vietnam exported 12,958 tons of pepper, down 25.9% over the same period last year. However, thanks to an average export price increase of 68%, turnover still reached 87 million USD, up 25.1%.
The above impressive figures show that the Vietnamese pepper industry is facing a great opportunity to make a breakthrough and can set a new record for export value in 2025. According to the Vietnam Pepper and Spices Association (VPSA), global pepper output continues to decrease, while consumption demand remains stable. This is an important factor that helps Vietnam's pepper exports benefit from high prices.
With the current export price having increased by 68% compared to last year, if this trend continues, the total export value of Vietnam's pepper could reach 1.5 billion USD, a record figure in the agricultural sector.
