According to forecasts, pepper prices on November 5 may continue to decline due to pressure from low demand and the continued high USD. Vietnam's pepper exports have continuously decreased in recent months.
One of the main reasons for the sharp drop in pepper prices is the influx of money into the coffee market. With the new coffee harvest season just beginning, many dealers have been actively purchasing coffee, which means reducing their pepper reserves to raise capital, creating downward pressure on the pepper market.
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| Pepper price forecast on November 5, 2024: Tend to decrease due to pressure from low demand |
The sharp increase in the value of the USD is also a factor that negatively affects Vietnam's pepper export prices. When the USD increases in value, Vietnam's export goods become more expensive in the international market, reducing competitiveness and causing prices to fall.
In the domestic market, pepper prices today, November 4, 2024, in the Southeast region maintained a flat price trend in most key regions, trading around 140,000 - 141,000 VND/kg; the highest purchase price in Dak Nong , Ba Ria - Vung Tau, Dak Lak provinces.
Accordingly, Dak Lak pepper price is purchased at 141,000 VND/kg. Chu Se pepper price (Gia Lai) is purchased at 140,000 VND/kg. Dak Nong pepper price today is recorded at 141,000 VND/kg.
In the Southeast region, pepper prices today have not fluctuated compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 140,000 VND/kg. In Ba Ria - Vung Tau, it is currently at 141,000 VND/kg.
Update on world pepper prices Update on world pepper prices from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,683 USD/ton, unchanged from yesterday, and the price of Muntok white pepper at 9,150 USD/ton, stable from yesterday.
The price of Brazilian ASTA 570 black pepper is at 6,400 USD/ton. The price of Malaysian ASTA black pepper is at 8,500 USD/ton; the price of this country's ASTA white pepper is at 11,000 USD/ton.
In particular, the price of Vietnamese black pepper is stable at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; and white pepper price at 9,500 USD/ton.
Prices from Indonesia are more competitive, which may be one of the main reasons why the amount of pepper exported from this country to China has increased sharply in recent times.
Experts predict that domestic pepper prices may continue to decrease in the coming time if there are no positive signals from the world market and domestic consumption demand does not improve.
*Information for reference only. Prices may vary depending on time and location.
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