Pepper price today November 28, 2024: Vietnam's pepper exports to the US increase, expecting the market of over a billion people to increase purchases again. (Source: Borneo Talk)

Pepper price today, November 28, 2024 in the domestic market is stable in some key localities, trading from 140,000 - 141,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 140,500 VND/kg.

Pepper prices today in the provinces of Dong Nai (140,500 VND/kg); Dak Lak (141,000 VND/kg); Dak Nong (141,000 VND/kg); Ba Ria - Vung Tau (141,000 VND/kg) and Binh Phuoc (140,000 VND/kg).

Thus, domestic pepper prices today remained stable in most key growing areas. The highest pepper price reached 141,000 VND/kg.

According to data from the General Department of Customs, from the beginning of 2024 to November 15, Vietnam exported 226,366 tons of pepper, bringing in 1.16 billion USD. While the export volume decreased by 3.6% compared to the same period last year, Vietnam's pepper export turnover increased by 46.8% compared to the same period in 2023.

Currently, the country has more than 115,000 hectares of pepper and spice plants, mostly concentrated in the South Central Coast - Central Highlands region with more than 75,300 hectares; the rest are in the Southern and Northern regions. In the coming time, it is expected that the area of ​​pepper and spices in the country may decrease to 110,000 hectares.

In addition, market expansion is also facing difficulties, some markets are reducing imports, while continuing to increase regulations, standards, and technical barriers for Vietnamese pepper and spice products.

Chairwoman of the Vietnam Pepper and Spice Association (VPSA) Hoang Thi Lien said that although the price of pepper increased sharply in 2024, the price of pepper has often increased and decreased suddenly in recent times. The reason is that geopolitical conflicts in the world have affected the trade of goods between regions as well as key markets.

Exports to the US, Europe and Middle East markets increased sharply, while the Indian market, especially China, decreased sharply. Hopefully in 2025, the Chinese market of more than a billion people will increase purchases again.

VPSA said that in the first 9 months of 2024, the US imported 73,080 tons of pepper, with a total import turnover of 376.4 million USD. Compared to the same period last year, the import volume increased by 43.2% and the turnover increased by 56.1%.

Vietnam is the largest pepper supplier, accounting for 77.8%, reaching 56,820 tons, up 42.9%; followed by India, accounting for 7.8%, reaching 5,699 tons, up 27.5%. Indonesia and Brazil ranked 3rd and 4th, accounting for 7.1% and 4.2%, reaching 5,174 tons and 3,054 tons, up 88.4% and 88.8% over the same period in 2023.

In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,596 USD/ton, down 0.42%; the price of Brazilian black pepper ASTA 570 at 6,050 USD/ton, up 50 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,400 USD/ton.

Muntok white pepper price is 9,101 USD/ton, down 0.42%; Malaysian ASTA white pepper price is at 10,500 USD/ton.

Vietnamese black pepper prices are trading at 6,200 USD/ton for 500 g/l; 6,500 USD/ton for 550 g/l; and 9,400 USD/ton for white pepper. IPC adjusted down Indonesian pepper prices right after the increase at the beginning of the week.