Will pepper prices increase slightly tomorrow?

Forecast of domestic pepper prices tomorrow

According to forecast, tomorrow's pepper price, December 13, 2024, domestic pepper price will continue to stabilize at a high level and increase slightly.

Specifically, the pepper price today, December 12, 2024, domestic pepper price is stable at a high level and has not fluctuated compared to the previous day. Currently, the average purchase price in localities is at 146,000 VND/kg. Specifically, the pepper purchase price in Gia Lai province is at 145,000 VND/kg; similarly, the pepper price on December 12 in Binh Phuoc province is at 145,000 VND/kg; the pepper price in Ba Ria - Vung Tau is at 146,000 VND/kg; the pepper price in Dak Lak is at 147,000 VND/kg; the pepper price in Dak Nong is the highest at 147,200 VND/kg.

Dự báo giá tiêu ngày mai 13/12/2024: Giá tiêu ngày mai có tăng nhẹ trở lại?

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

According to experts, the current domestic and export pepper prices are higher than in previous years, motivating farmers to plant and replant pepper trees. In the new month, the domestic pepper market continues to record positive signals. Today's pepper prices remain stable compared to the same time yesterday after two days of slight decline in some localities.

The Import-Export Department ( Ministry of Industry and Trade ) forecasts that in the last months of this year, Vietnam's pepper exports will face difficulties because domestic supply is no longer abundant and demand from China remains low.

However, it is expected that by early 2025, pepper exports will be more favorable when demand from China may increase sharply.

The United States remains the largest consumer market for Vietnamese pepper with exports reaching 67,802 tons, up 41.1% over the same period last year. Other markets such as the UAE, Germany, the Netherlands, South Korea, Pakistan, Canada, Russia, and the UK also recorded impressive growth. In particular, exports to Hong Kong (China) increased dramatically, reaching 3,933 tons compared to only 129 tons last year.

US pepper imports have rebounded sharply after two consecutive years of decline due to cooling inflation and loose monetary policy, leading to a recovery in demand. In addition, importers have also increased their inventories due to concerns about economic policies changing after the US presidential election.

Domestic pepper prices updated on the morning of December 12, 2024

In the world market, according to Comexstat, in November 2024, Brazil exported 4,302 tons of pepper, worth 28 million USD, up 18.8% in volume and 19.6% in value compared to October 2024. The US was the largest export market for Brazilian pepper in the month, reaching 850 tons, Germany reaching 464 tons, Pakistan reaching 433 tons, and Vietnam ranked 8th with 251 tons.

World pepper prices are forecast to start increasing slightly again tomorrow.

Update on world pepper prices from the International Pepper Community (IPC) at 4:30 a.m. on December 12 as follows: At the end of the most recent trading session, the world pepper market decreased compared to the previous update, in which the Vietnamese market was stable, slightly decreased; the Indonesian and Brazilian markets fluctuated.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,822 USD/ton (down 13 USD/ton); similarly, the price of Muntok white pepper was at 9,115 USD/ton (down 18 USD/ton) compared to the previous trading session.

The price of Brazilian ASTA 570 black pepper continued to decrease, currently at 6,250 USD/ton (down 25 USD/ton) compared to the previous trading session. Meanwhile, pepper prices in Malaysia remained stable compared to the previous trading session; the price of Malaysian ASTA black pepper was at 8,200 USD/ton, the price of ASTA white pepper was at 10,400 USD/ton.

Of which, the export price of Vietnamese black pepper continued to be stable and slightly decreased at 6,300 USD/ton for 500 g/l, 550 g/l remained at 6,600 USD/ton; the price of white pepper remained unchanged at 9,400 USD/ton.

*The above pepper price forecast is for reference only, the actual price will be officially available early tomorrow morning (December 12, 2024) on Congthuong.vn.