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As of the morning update on August 28, pepper prices in key producing provinces ranged from VND 147,600 to VND 150,000 per kg, an increase of VND 1,600 to VND 2,000 per kg compared to the previous trading session.
Specifically, in Dak Nong and Dak Lak, pepper prices rose by VND 2,000 per kg, reaching a high of VND 150,000 per kg.
Meanwhile, in Gia Lai, another locality in the Central Highlands region, pepper was purchased at VND 147,600 per kg – the lowest in the market, marking a VND 1,600 increase.
In the Southeast region, including Ba Ria-Vung Tau, Dong Nai, and Binh Phuoc, the common transaction price was VND 148,000 per kg, reflecting a VND 2,000 increase.
Forecasts indicate a continued decline in global and Vietnamese pepper output in the coming years due to climate change, diseases, and competition from other crops such as durian and coffee. It is anticipated that 2025 will be the fourth consecutive year of decreasing global pepper production. Vietnam’s pepper output for 2024 is estimated at 190,000 tons, down from 192,000 tons in 2023, and is projected to further decrease to 178,000 tons in 2025.
In 2025, Brazil’s production is expected to recover, while Indonesia may experience a decrease due to challenges in investment and unfavorable weather conditions. India, a significant consumer, also forecasts a reduction in output due to the impact of floods, leading to restrained investments and stock liquidation by farmers as domestic prices decline.
Domestic pepper prices continue to rise due to several positive factors. The country’s supply has started to become limited as the harvest season nears its end, while demand from processing and exporting enterprises has increased after a period of stagnation. Additionally, pepper prices in India and Brazil show slight upward movements, influencing domestic prices.
In the global market, according to data from the International Pepper Community (IPC), pepper prices on August 28 exhibited mixed trends.
Indonesia: Black pepper reached 7,262 USD/ton (equivalent to 192,705 VND/kg), a decrease of 0.48%. White pepper decreased by 0.49%, settling at 10,093 USD/ton (267,828 VND/kg).
Brazil: ASTA 570 black pepper remained at 6,400 USD/ton (169,831 VND/kg).
Malaysia: ASTA black pepper was stable at 9,600 USD/ton (254,746 VND/kg), while white pepper stayed at 12,800 USD/ton (339,661 VND/kg).
Vietnam: 500 g/l black pepper stood at 6,240 USD/ton (165,585 VND/kg), 550 g/l black pepper at 6,370 USD/ton (169,035 VND/kg), and ASTA white pepper reached 9,150 USD/ton (242,805 VND/kg), all unchanged from the previous session.
The Ultimate Black Gold: Vietnam’s Premium Export that has America and Over 100 Countries Hooked.
“Vietnam is currently the largest supplier to the US market, accounting for 64.4% of total imports of these products into the US. This dominance in the US market showcases Vietnam’s prowess in manufacturing and exporting these goods, solidifying its position as a key player in the global trade landscape.”
The Pepper Price Surge: Reaching New Heights
The domestic pepper market witnessed a remarkable surge on August 27, with prices soaring by almost VND 2,000 per kg, pushing the average price closer to the VND 150,000 per kg mark.
The Domestic Consumption Price Surge
The domestic pepper price ranges from VND 143,500 to VND 146,000 per kg, a significant increase of VND 6,000 to VND 8,000 per kg since the beginning of August.
The Black Gold Rush: Vietnam’s Tens of Thousands of Tons Conquer Over 100 Nations, Skyrocketing Prices and America Leads the Pack
The price of the “black gold” from Vietnam has been soaring and it’s no wonder that this sought-after commodity is coveted by many nations across the globe.
