The domestic pepper price today is stable at 146,500 VND/kg. In the past week, domestic pepper prices have increased by about 700–2,000 VND/kg compared to the last week.
Many experts believe that pepper is entering a new cycle of price increase. Therefore, pepper exports are expected to remain favorable in the near future. However, Vietnamese pepper is facing significant challenges.
First of all, according to Ms. Hoang Thi Lien, Chairwoman of the Vietnam Pepper and Spice Association (VPSA), climate change poses a major challenge for farmers as it raises the investment cost for productivity increase. Besides, it also makes the pest situation on pepper plants more serious.
The strong competition from other crops such as durian or coffee is also reducing the pepper area, thereby affecting its yield. Meanwhile, the rising labor costs and the shortage of workers during the peak season are significantly affecting the harvest.
In addition, regulations on pesticide residues and environmental standards in major markets have put pressure on the pepper industry to adjust farming methods and production processes.
Pepper prices have increased for three consecutive days over the past week.
By the end of the latest trading session, the market has remained stable compared to the last update, with only the Indonesian market experiencing slight fluctuations.
Specifically, the IPC listed the price of Lampung black pepper from Indonesia at 6,703 USD/ton, up 0.28%, and the price of Muntok white pepper at 9,147 USD/ton, a slight increase of 0.27%.
The price of ASTA 570 black pepper from Brazil increased slightly by 0.8%, reaching 6,275 USD/ton. The ASTA black pepper price from Malaysia is 8,200 USD/ton, and the ASTA white pepper price is 10,400 USD/ton.
The price of Vietnamese black pepper remains stable at 6,200 USD/ton for the 500 g/l type and 6,500 USD/ton for the 550 g/l type. The price of white pepper stays unchanged at 9,300 USD/ton.
In November 2024, Vietnam exported 15,948 tons of pepper of all types, including 13,606 tons of black pepper and 2,342 tons of white pepper. The total export value of pepper was 106.5 million USD, of which black pepper accounted for 87.5 million USD and white pepper for 19.0 million USD. Compared to October, the export volume decreased by 13.8%, and compared to the same period in 2023, the export volume decreased by 21.4%.
The average export price of black pepper in November was 6,513 USD/ton, and white pepper was 8,286 USD/ton, increasing by 229 USD and 57 USD, respectively, compared to October 2024.
Pepper exports to the US still accounted for the largest market share, at 31.9%, reaching 5,089 tons. Next were the UAE with 927 tons, Hong Kong (China) with 895 tons, the Netherlands with 760 tons, and South Korea with 600 tons.
In 11 months of 2024, pepper exports reached 235,335 tons with a total export value of 1.2176 billion USD. Compared to the same period in 2023, the export volume decreased by 3.5%; however, the export value increased by 46.9%. The average export price of black pepper over 11 months reached 5,073 USD/ton, an increase of 47.3%, and white pepper reached 6,772 USD/ton, an increase of 36.7%.