Pepper price forecast on July 11, 2024: Shocking price drop?

Pepper price forecast on July 11, 2024, since the beginning of the year, Vietnamese pepper prices have been on a strong upward trend, especially in the first half of June, the price increased "hotly" when reaching a peak of 180,000 VND/kg on June 12, many people expected that pepper would return to its golden age.

However, after reaching the peak, pepper prices have decreased and changed continuously, fluctuating around 150,000 - 160,000 VND/kg, but are still considered a record high in the past 10 years. The high pepper price makes people very excited and more confident to take care of their pepper gardens. In particular, with many agricultural products increasing in price as it is now, pepper has become a "reserve", farmers are still in no hurry to sell.

According to many farmers in pepper growing areas, although prices have increased, growers have not benefited much because most of the old pepper gardens have been replaced by durian and some other crops with higher economic value. On the other hand, due to the impact of climate change, pepper productivity has decreased sharply in recent years, averaging 20-30%.

Pepper price forecast on July 11, 2024: Shocking price drop?

In the domestic market, pepper prices today, July 10, 2024, in the Southeast region continued to increase by 2,000 VND in some localities, trading around 153,000 - 154,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces was 154,000 VND/kg.

Dak Lak pepper price is purchased at 154,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is currently at 153,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday. Dak Nong pepper price today is recorded at 154,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday.

In the Southeast region, pepper prices today increased by VND2,000/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it was VND153,000/kg; in Binh Phuoc, pepper prices were VND153,000/kg.

In the world market, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,155 USD/ton, up 0.18%; the price of Brazilian black pepper ASTA 570 at 7,150 USD/ton, down 1.37%; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,110 USD/ton, up 0.45%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnamese black pepper prices remain high at 6,000 USD/ton for 500 g/l; 6,600 USD/ton for 550 g/l; white pepper prices at 8,800 USD/ton. IPC continues to slightly increase pepper prices in Indonesia and decrease in Brazil.

Domestic pepper price on July 10 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease compared to yesterday
Chu Se (Gia Lai)	VND/kg	153,000	+2,000
­­ Dak Lak	VND/kg	154,000	+2,000
Dak Nong	VND/kg	154,000	+2,000
Binh Phuoc	VND/kg	153,000	+2,000
Ba Ria - Vung Tau	VND/kg	153,000	+2,000

The International Pepper Community also assessed that the market in the first week of July 2024 showed mixed reactions.

Specifically, in the South Asian region, domestic and international pepper prices in India were stable last week. Meanwhile, domestic pepper prices in Sri Lanka continued to increase over the past two weeks.

In Southeast Asia, domestic and export pepper prices in Indonesia were stable last week, as some farmers in Lampung province prepared for the harvest next month. Only domestic white pepper prices in Malaysia recorded a decrease last week, while other grades were stable and unchanged.

Vietnam's domestic and export black pepper prices recorded an increase last week.

Brazilian black pepper prices continued to decline over the past three weeks. Chinese white pepper and Cambodian black pepper prices were stable and unchanged.

According to the Vietnam Pepper and Spices Association, Olam Vietnam continued to be the leading exporter in the first 6 months of 2024, reaching 13,278 tons, an increase of 56.4% over the same period in 2023. Next are the following enterprises: Phuc Sinh: 11,339 tons, an increase of 37.5%; Nedspice Vietnam: 10,349 tons, an increase of 8.5%; Haprosimex JSC: 10,054 tons, an increase of 58.8% and Tran Chau: 9,066 tons, a decrease of 8.7%.

The leading white pepper exporters include: Olam Vietnam: 2,400 tons, Nedspice Vietnam: 2,352 tons, Phuc Sinh: 1,191 tons, Lien Thanh: 952 tons and Tran Chau: 719 tons. The group of enterprises in the Export Association accounts for 85.6% and increased by 35.5% over the same period.

*Information for reference only

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-1172024-quay-dau-giam-soc-331309.html