On January 13, 2025, pepper prices in Vietnam returned to around 147,000 VND/kg after several consecutive declines.
Experts assessed that the current pepper stock is low, the next harvest is delayed, and farmers can make decisions in selling. Besides, the expectation of strong purchases from China is a factor that could help increase pepper prices in the 2025 harvest.
Brazil is the second-largest producer and exporter of black pepper in the world, after Vietnam, accounting for 17-18% of the global supply. However, Brazil’s pepper exports in the 2024 season have sharply declined, marking a decrease for the third consecutive year, due to low production caused by the El Nino. In the entire year of 2024, Brazil’s pepper exports only reached 61,665 tons, a sharp decrease of 23.6% (equivalent to 19,037 tons) compared to 2023.
Currently, the pepper market is quite silent, with low trading activity. Meanwhile, farmers, agents, and exporters are limiting sales and hoping prices will rise sharply after the Lunar New Year.
Pepper prices returned to 147,000 VND/kg after consecutive declines.
The pepper supply in Vietnam in 2024 is affected by reduced cultivation area due to adverse weather conditions. The yield is estimated to be between 160,000 tons and 175,000 tons. The upcoming harvest may be delayed by about two months due to unpredictable weather conditions.
However, according to experts, as the new year begins, demand is starting to increase from major markets, including the US, EU, Middle East, and China, leading to a 1.53% price increase last month. Buyers are forecasting a price drop in the first quarter of 2025.
In recent days, pepper prices in Vietnam have dropped sharply by 6,000 VND/kg. Now, the price of pepper is around 147,000 VND/kg.
The global pepper market has been stable after several fluctuations. Specifically, the IPC listed the price of Lampung black pepper from Indonesia at 6,841 USD/ton and the price of Muntok white pepper at 8,953 USD/ton.
The pepper prices in Malaysia, after strong increases, have stabilized and are currently holding at high levels. The price of Malaysian ASTA black pepper is 8,700 USD/ton, and the price of ASTA white pepper is 11,100 USD/ton.
Similarly, the pepper prices in Brazil continue to remain high, at 6,350 USD/ton.
The export price of Vietnamese pepper is stable and slightly increasing. Specifically, the price of black pepper is 6,350 USD/ton for the 500 g/l type and 6,650 USD/ton for the 550 g/l type; the price of white pepper is 9,550 USD/ton.