Will the upward trend continue?

Việt Nam•08/11/2024

According to forecasts, pepper prices on November 9th are expected to rise again due to anticipated demand for pepper during the year-end holiday season, which is predicted to be a positive factor in keeping prices high.

With stable prices, Vietnam's pepper exports are expected to remain stable in the final months of 2024, benefiting both producers and exporters.

In the domestic market, today, November 8, 2024, pepper prices in the Southeast region have sharply increased again by 2,500-3,500 VND/kg in most key areas, trading around 138,000-139,000 VND/kg; the highest purchase prices are in Dak Nong and Ba Ria - Vung Tau provinces.

Pepper price forecast for November 9, 2024: The upward trend is expected to continue due to year-end consumption demand.

Accordingly, the price of pepper in Dak Lak is being purchased at 138,500 VND/kg, an increase of 2,500 VND/kg compared to yesterday. The price of pepper in Chu Se (Gia Lai) is being purchased at 138,000 VND/kg, an increase of 2,500 VND/kg compared to yesterday. The price of pepper in Dak Nong today is recorded at 139,000 VND/kg, a sharp increase of 3,000 VND/kg compared to yesterday.

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Pepper prices today, January 30th: Domestic market fluctuates around 152,000 VND/kg.Domestic pepper prices today fluctuated between 150,000 and 152,000 VND/kg, showing mixed trends. Meanwhile, Indonesian pepper prices reversed course and fell due to weakening demand from the EU.

The surge is driven by positive market prospects.

In Binh Phuoc, the price of pepper today is 138,000 VND/kg, a sharp increase of 3,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, the price is currently 139,000 VND/kg, an increase of 3,500 VND/kg compared to yesterday.

According to the International Pepper Association (IPC), at the close of the most recent trading session, the IPC listed Indonesian Lampung black pepper at US$6,665/ton, up 0.47% from yesterday, while Muntok white pepper was at US$9,124/ton, down 0.46% from yesterday.

Brazilian ASTA 570 black pepper was priced at $6,300/ton, down 1.59%. Malaysian ASTA black pepper was priced at $8,500/ton; Malaysian ASTA white pepper reached $11,000/ton.

Specifically, the price of Vietnamese black pepper remained stable, trading at US$6,500/ton for the 500 g/l variety; US$6,800/ton for the 550 g/l variety; and the price of white pepper was US$9,500/ton.

On the international market, Southeast Asian countries are also witnessing a decline in pepper prices due to the impact of the strong US dollar. Forecasts indicate that Vietnam's pepper production will reach approximately 170,000 tons in the upcoming harvest, accounting for 35-40% of the global supply. Therefore, world pepper prices may continue to fluctuate sharply, especially as pepper enters a new price increase cycle lasting 10-15 years, with prices potentially reaching 300,000 VND/kg.

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