Tips

Today’s Peppercorn Prices: A Spicy Surge, Stirring Up the Market

Today's pepper prices are on an upward trend, ranging from 79,000 to 81,500 VND per kg. This morning's rates continue to surge compared to yesterday's, and we're here to delve into the details.

Administrator

11 July, 2024

According to experts, the market is expected to gradually heat up until the Lunar New Year, which is also the time to prepare for the new harvest season.

1Domestic Pepper Prices

Pepper prices in the domestic market today are trading at 79,000 – 81,500 VND/kg, continuing to rise in some key provinces compared to the same period yesterday.

Specifically, in the following provinces:

Gia Lai province has the lowest price at 79,000 VND/kg, an increase of 500 VND/kg
Dong Nai province at 79,000 VND/kg, an increase of 500 VND/kg
Dak Lak and Dak Nong provinces at 80,000 VND/kg, an increase of 500 VND/kg
Binh Phuoc province at 80,500 VND/kg, an increase of 500 VND/kg
Ba Ria – Vung Tau province has the highest price at 81,500 VND/kg, an increase of 500 VND/kg

This morning, pepper prices in the domestic market increased by 500 VND/kg in key growing areas compared to the same period yesterday. This is the second consecutive day of increase in the domestic market.

Domestic Pepper Prices

2Information on Pepper Exports

The World Pepper Association has made some adjustments. Specifically, the export price of white pepper suddenly dropped by 300 USD/ton to 6,200 USD/ton, while black pepper 500g/l also decreased by 90 USD/ton to 4,200 USD/ton. Only black pepper 550g/l for export increased slightly, from 4,390 to 4,400 USD/ton.

The market is expected to gradually become more active until the Lunar New Year, which is also the time to prepare for the new harvest season. By then, capital from the coffee market will shift back to the pepper market, as the harvest season is later than previous years.

In the year-end summary, statistics show that pepper imports from Cambodia are increasing. According to the Vietnam Pepper Association (VPA), in the first 11 months of 2021, pepper imports from Cambodia increased by 111% over the same period last year.

In the past two years, due to the impact of the pandemic, a large amount of Cambodian pepper has shifted to official exports. Vietnamese enterprises mainly import pepper for processing and export.

Information on Pepper Exports

The above is the pepper price on December 29 that we want to update you on.

Frequently asked questions

There has been a notable spike in peppercorn prices, particularly in the Vietnamese market. This surge can be attributed to a combination of factors, including unfavorable weather conditions affecting peppercorn yields, rising production costs, and increased demand from both domestic and international markets. The perfect storm of these factors has resulted in a significant price increase for this sought-after spice.

Adverse weather, including prolonged droughts and unexpected floods, has taken a toll on peppercorn yields in key producing regions. These climate challenges have disrupted the supply of peppercorns, driving up prices. The impact of climate change on peppercorn cultivation cannot be overstated, as it directly affects the quantity and quality of the spice available in the market.

Yes, Vietnam, one of the world’s largest peppercorn producers and exporters, has encountered considerable obstacles. The country’s peppercorn plantations have been ravaged by harsh weather conditions, leading to reduced yields and a subsequent decline in Vietnam’s peppercorn exports. This has had a noticeable impact on global peppercorn supply and prices.

The cost of producing peppercorns has increased due to factors such as labor shortages, rising minimum wages, and higher fertilizer and transportation costs. These increased production costs are inevitably passed on to consumers, contributing to the overall surge in peppercorn prices.

Yes, the demand for peppercorns remains robust. Peppercorns are a staple spice in numerous cuisines worldwide, and their versatility in cooking ensures a consistent demand. Additionally, the perceived health benefits associated with peppercorns, such as their potential anti-inflammatory and antioxidant properties, further fuel their popularity.

To stabilize peppercorn prices, a multi-faceted approach is necessary. This could include investing in sustainable farming practices and technologies to mitigate the impact of climate change, exploring alternative production methods to reduce costs, and promoting cooperation and price agreements between peppercorn-producing countries to ensure a stable supply in the market.