Currently, the average pepper price in the localities is 146,500 VND/kg.
Binh Phuoc has more than 12,900 ha of pepper, with over 12,200 ha in the harvest. Compared to 2019, the pepper area in the province has decreased by more than 4,200 ha. The pepper price has increased, so many farmers are tending to invest in caring for their gardens again or to plant new ones.
However, to prevent farmers from planting excessively, leading to surplus, the agricultural sector of Binh Phuoc province is raising public awareness about the pepper market and its potential risks. At the same time, the local authorities also need to have a clear plan for the cultivation area, provide technical guidance on farming practices and pest prevention, and ensure a stable and sustainable market for pepper.
According to the Vietnam Pepper and Spice Association (VPSA), in the first half of December, Vietnam exported 7,029 tons of pepper, with a total turnover of 46.5 million USD. This is a decrease of 30.2% in volume but an increase of 22.9% in turnover compared to the same period last year.
Domestic pepper prices today have slightly decreased.
To enhance competitiveness, the VPSA is implementing strategic solutions. Among them, the construction of a digital map of Vietnamese pepper and spices is one of the important initiatives, contributing to providing detailed information on cultivation area, production, weather conditions, soil quality, and quality standards. This will help the Vietnamese spice industry become more transparent and attractive to international importers.
From the beginning of 2024 to mid-December 2024, Vietnam’s pepper exports reached 242,364 tons, with a turnover of 1.26 billion USD. This is a decrease of 5.2% in volume but an increase of 45.2% in revenue compared to the same period in 2023. The average export price of pepper was 5,216 USD/ton, up 53.14% compared to the same period.
According to the International Pepper Community (IPC), global pepper prices continue to decrease from 74 to 98 USD/ton.
Specifically, the IPC listed the price of Lampung black pepper from Indonesia at 6,736 USD/ton (down 74 USD/ton) and the price of Muntok white pepper at 8,907 USD/ton (down 98 USD/ton).
Similarly, the price of Brazil’s ASTA 570 black pepper decreased by 75 USD/ton compared to the last trading session and is now 6,275 USD/ton.
The price of pepper in Malaysia remains stable compared to the last trading session. The ASTA black pepper price from Malaysia is at 8,200 USD/ton, and the ASTA white pepper price is 10,400 USD/ton.
Vietnam’s black pepper export prices remain stable and high, now reaching 6,400 USD/ton for the 500 g/l type and 6,700 USD/ton for the 550 g/l type. The white pepper price is at a high level of 9,600 USD/ton.
The shipping rates from Asia to Europe have increased, with daily rates to the Mediterranean reaching nearly 6,000 USD/FEU, an increase of 1,000 USD/FEU since the end of November 2024. This increase may be caused by the effective capacity management of the carriers, as many ships are empty and demand is rising early before the Lunar New Year.
For exporters to the Mediterranean, timely ordering is very important due to the longer delivery times caused by the ongoing rerouting through the Red Sea. Missing the shipping time before the holiday season can lead to significant delays for new shipments.