Pepper price forecast October 26: Sharp decline?

According to forecasts, pepper prices on October 26 tend to decrease sharply in key regions. Black pepper prices in the domestic market in Vietnam decreased by 3-6% (VND5,000-9,500/kg) in the third quarter and continued to decrease by 2-4% in the first 20 days of October, down to VND143,000-144,500/kg. However, this price is still nearly 80% higher than at the beginning of the year and double the same period last year.

Pepper prices were under downward pressure in the third quarter and early October as agricultural companies, agents and intermediaries were actively selling black pepper. This activity was mainly driven by liquidity needs, as sellers sought to raise capital to invest in coffee, an agricultural product that is in the harvest season.

Pepper price forecast October 26: Sharp decline

Coffee prices are high due to reduced production and increased global demand, making coffee the more profitable option at this time.

In addition, the fact that Brazil and Indonesia are in the harvest season, while world demand is not increasing strongly, along with China not buying much, also contributed to the price decrease in the third quarter.

In the domestic market, pepper prices today, October 25, 2024, in the Southeast region increased by 500 - 1,000 VND/kg compared to yesterday, trading around 145,500 - 147,000 VND/kg, the highest purchase price in Dak Nong province is 147,000 VND/kg.

Accordingly, Dak Lak pepper price was purchased at 146,700 VND/kg, an increase of 500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 145,700 VND/kg, an increase of 500 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at the highest level of 147,000 VND/kg, an increase of 500 VND/kg compared to yesterday.

In the Southeast region, pepper prices today fluctuated compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 145,500 VND/kg, an increase of 500 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is currently at 146,000 VND/kg, also an increase of 1,000 VND/kg compared to yesterday.

In the world market, at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,739 USD/ton, up 0.18% compared to yesterday, and the price of Muntok white pepper at 9,226 USD/ton, up 0.17% compared to yesterday.

The price of Brazilian ASTA 570 black pepper increased to 6,400 USD/ton. The price of Malaysian ASTA black pepper was at 8,500 USD/ton, down 2.35%; the price of this country's ASTA white pepper reached 11,000 USD/ton, down 1.82%.

Of which, the price of Vietnamese black pepper is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; the price of white pepper is at 9,500 USD/ton.

According to data from the General Department of Customs, in the third quarter, Vietnam's pepper exports reached 58,876 tons, worth nearly 360 million USD, down 30.4% in volume and 8.7% in value compared to the second quarter, but up 10.2% in volume and 80.7% in value respectively compared to the same period last year.

In the first 9 months of the year, the export of this commodity, known as "black gold", reached 200,268 tons, worth nearly 989.8 million USD, down 2.8% in volume but up 45% in value over the same period thanks to high prices.

In the third quarter, pepper exports by enterprises generally decreased compared to the second quarter, the peak export quarter of the year. However, in the first nine months of the year, exports by most large enterprises in the industry increased sharply compared to the same period last year.

* Information for reference only. Prices may vary depending on time and location.

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-2610-quay-dau-giam-manh-354808.html