Will the upward trend continue?

Last week, the domestic pepper market experienced continuous fluctuations within a narrow range, resulting in mixed performance. Specifically, pepper prices in the Central Highlands increased slightly by 500 VND, while those in the Southeast provinces decreased by 500-1,000 VND. Meanwhile, the global market fluctuated continuously within a relatively small range.

The forecast for pepper prices on October 22, 2024, indicates continued stability. The domestic market shows no signs of major fluctuations, as pepper supply remains sufficient to meet demand.

The slight upward trend in export pepper prices on the international market, coupled with Vietnam's preparation for the end of the year, a period of high consumption demand, will help maintain current price levels. However, experts also warn that pepper prices may be affected by the global economic situation and factors such as supply and demand fluctuations in major consumer markets like the US and Europe.

Pepper price forecast for October 22, 2024: Will the upward trend continue?

In the domestic market, today, October 21, 2024, pepper prices in the Southeast region remained stable in several localities, trading around 143,000 VND/kg, with the highest purchase price in Dak Nong and Dak Lak provinces at 144,500 VND/kg.

Accordingly, the price of pepper in Dak Lak remains unchanged at 144,500 VND/kg compared to yesterday. The price of pepper in Chu Se (Gia Lai) is currently at 143,000 VND/kg, also stable compared to yesterday. The price of pepper in Dak Nong today is recorded at 144,500 VND/kg, remaining the same as yesterday.

In the Southeast region, pepper prices remained stable today compared to yesterday. Specifically, in Ba Ria - Vung Tau, the price was 143,500 VND/kg; in Binh Phuoc, the price reached 143,000 VND/kg.

On the world market, at the close of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper from Indonesia at $6,794 per ton. Meanwhile, the price of Muntok white pepper from the same country remained at $9,302 per ton.

Malaysian Kuching ASTA black pepper is priced at US$8,700 per ton, while the country's ASTA white pepper is priced at US$11,200 per ton.

For the Brazilian market, ASTA 570 black pepper is trading at around $6,400 per ton.

In Vietnam, the export price of black pepper (500 g/l) is trading at US$6,500/ton; while the 550 g/l variety is priced at US$6,800/ton. The export price of white pepper is currently at US$9,500/ton.

World pepper prices remained flat today. Over the past week, the pepper market experienced mixed movements. IPC noted that the pepper market continued to show conflicting reactions last week. Indian pepper prices, both domestically and internationally, continued their downward trend for the past three weeks. However, the strengthening of the Indonesian Rupiah against the USD helped boost prices in that country.

* This information is for reference only. Prices may vary depending on the time and location.

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-22102024-da-tang-lieu-co-dien-ra-353803.html