Domestic pepper prices: Continue to increase
As of 1:00 p.m. today (March 5), domestic pepper prices continued to increase, increasing by an average of VND800/kg. Currently, the purchase price ranges from 158,000 - 161,000 VND/kg. The average pepper purchase price nationwide is at 159,100 VND/kg.
Pepper purchasing prices in Ba Ria - Vung Tau and Binh Phuoc provinces remained unchanged compared to the previous trading session, listed at 158,000 VND/kg. Meanwhile, pepper purchasing prices in Gia Lai province reversed and increased by VND 1,000/kg, currently hovering at VND 158,000/kg.
Notably, increasing by VND 1,300/kg and VND 1,800/kg, Dak Lak province launched it on the market at VND 160,500/kg, while Dak Nong province maintained its highest pepper purchasing position in the country at VND 161,000/kg.
World pepper prices: Green
According to the International Pepper Community, on the exchanges, black and white pepper prices on the Indonesian market increased simultaneously. Black pepper prices continued to increase by 0.38%, listed at 7,328 USD/ton (equivalent to 188,477 VND/kg). Similarly, the price of white pepper also increased by 0.38%, currently listed at 10,175 USD/ton (equivalent to 261,701 VND/kg).
For the Brazilian market, the price of ASTA 570 black pepper was traded at 6,850 USD/ton, unchanged from the closing price of the last 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 177,468 VND/kg); the 550 g/l type is currently at 7,100 USD/ton (equivalent to 182,612 VND/kg). Similarly, the price of white pepper for export is at 9,900 USD/ton (equivalent to 254,628 VND/kg).
In the Indian market, pepper prices are flat in most types of pepper. Garbled pepper costs 67,200 rupees/kg, (equivalent to 203,959 VND/kg), Ungarbled is listed at 65.200 rupees/kg, while gram/liter has the lowest price of 64,200 rupees/kg (exchanged at 197,889 VND/kg).
Assessment and forecast
2024 is considered a successful year for the pepper industry in Vietnam as well as in the world. According to experts, the potential of pepper and spices in 2025 and the following years is still very large. Orientation for pepper crop development by 2030, the adjusted area is expected to be about 80,000-100,000 hectares, with a yield of 24 to 25 quintals/ha, estimated output of about 200 to 230 thousand tons.
According to the Vietnam Pepper and Spices Association (VPSA), the goal by 2030 is to have about 40% of pepper growing areas meet GAP standards and equivalent; about 40-50% of pepper growing areas will be granted growing area codes with the ability to trace the origin of products. The area of high-quality new breeding and breeding improvement also reached about 40-50%.
