Forecast of domestic pepper price tomorrow December 31, 2024 to increase slightly

Forecast of domestic pepper price tomorrow , domestic pepper price tomorrow December 31, 2024 continues to be stable and slightly increased. Currently, the average pepper purchase price in localities is 146,800 VND/kg.

Today's pepper price was updated on the afternoon of December 30, 2024 as follows: Domestic pepper prices have slightly increased and decreased between localities, the increase - decrease is about 500 VND/kg.

Specifically, pepper prices in Gia Lai today, after many sessions of increase, have slightly decreased again, currently the local purchase price is 146,000 VND/kg (down 500 VND/kg); on the contrary, pepper prices in Binh Phuoc increased by 500 VND/kg, currently at 147,000 VND/kg; similarly, pepper prices in Ba Ria - Vung Tau, Dak Nong, Dak Lak provinces are at a high level and are purchased at 147,000 VND/kg.

Domestic pepper price updated on December 30, 2024

Domestic pepper prices have stabilized after two previous increases and remained unchanged at the end of the week. Currently, the price of this agricultural product remains high, fluctuating around 146,500 - 147,500 VND/kg. In summary, this week, the domestic pepper market increased sharply from 1,500 - 2,000 VND/kg.

According to experts, the US Federal Reserve (FED) interest rate cut is expected to stimulate economic activity in major importing countries, potentially increasing demand for Vietnamese pepper in key markets such as the US and EU. Pepper prices are facing a new upward cycle in early 2025. The main reason is believed to be the continued decline in global supply, while demand from major markets such as China and Europe is increasing. In addition, increased transportation costs also push up pepper prices.

According to a recent report by Ptexim (a company specializing in providing clean products for the community), demand for pepper remains stable from markets such as the US, Asia, the EU and China, although only a small amount of black and white pepper is purchased. However, the volume of goods traded on the market is very limited and liquidity is quite slow.

People in Duc Trong district, Lam Dong province harvest pepper.

The US Federal Reserve's (FED) interest rate cut is expected to stimulate economic activity in major importing countries, potentially increasing demand for Vietnamese pepper in key markets such as the US and EU.

A weaker US dollar due to interest rate cuts could benefit Vietnamese exporters by making their products more price competitive in US dollar-denominated markets, encouraging higher export volumes.

Update world pepper prices today December 30, 2024

Forecast of world pepper price tomorrow December 31, 2024. According to the forecast, world pepper price tomorrow will continue to remain stable, moving sideways. However, there will still be an increase - decrease in pepper price in the markets of countries.

Update on world pepper prices from the International Pepper Community (IPC) on the afternoon of December 30, 2024 as follows: the world pepper market remained stable compared to the previous trading session.

Specifically, IPC listed the price of Indonesian Lampung black pepper after a decrease, which has stabilized again and is at 6,817 USD/ton; similarly, the price of Muntok white pepper reached 8,921 USD/ton.

Malaysian ASTA black pepper price is purchased at 8,500 USD/ton; ASTA white pepper price is at 10,700 USD/ton.

The price of Brazilian black pepper ASTA 570 continues to remain stable at a fairly high level, currently at $6,275/ton.

The export price of Vietnamese black pepper is stable, increasing slightly, currently reaching 6,400 USD/ton for 500 g/l and 6,700 USD/ton for 550 g/l; the price of white pepper is high at 9,600 USD/ton.

*The above pepper price forecast is for reference only, the actual price will be officially available early tomorrow morning (December 31, 2024) on Congthuong.vn.

Source: https://congthuong.vn/du-bao-gia-tieu-trong-nuoc-ngay-mai-31122024-tang-nhe-367041.html