| Pepper price forecast September 23, 2024: Domestic and global supply is limited, pepper prices continue to increase Pepper price forecast September 24, 2024: Vietnam's pepper output in 2024 is the lowest in the past 5 years |
Pepper price forecast on September 25, 2024 will reverse to decrease. The Import-Export Department ( Ministry of Industry and Trade ) forecasts that global pepper prices will continue to remain high in the short term due to limited supply.
In the long term, the agency believes that pepper export prices are likely to be supported due to forecasts that Vietnam's pepper output in the 2025 crop will decrease.
The 2025 pepper harvest in Vietnam is expected to be completed in February, with some regions extending to March and April, 1-2 months later than previous years due to the impact of prolonged drought, leading to increasingly difficult pepper supply.
According to the Import-Export Department, in the first 18 days of September, the export prices of black and white pepper in all producing countries tended to increase.
Specifically, in Brazil, the export price of black pepper has increased sharply by 555 USD/ton compared to the end of August to 7,000 USD/ton.
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| Pepper price forecast September 25, 2024: Domestic pepper prices in Vietnam have increased again |
In the domestic market, pepper prices today, September 24, 2024, in key areas increased by 1,500 - 2,500 VND/kg compared to yesterday and traded around 151,500 - 153,500 VND/kg, the highest purchase price in Dak Lak province was 153,500 VND/kg.
Accordingly, Dak Lak pepper price is purchased at 153,500 VND/kg, an increase of 2,500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is purchased at 152,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday. Dak Nong pepper price today is at 153,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday.
In Binh Phuoc, pepper price today is 151,500 VND/kg, an increase of 1,500 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is 151,500 VND/kg, an increase of 1,500 VND/kg compared to yesterday.
At world pepper prices, updated world pepper prices from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,917 USD/ton, down 11.57%, the price of Muntok white pepper at 9,397 USD/ton, up 0.98%.
The price of Brazilian ASTA 570 black pepper is at 6,900 USD/ton. The price of Malaysian ASTA black pepper is at 8,800 USD/ton; the price of this country's ASTA white pepper is at 11,200 USD/ton.
Vietnam black pepper price is traded at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; white pepper price at 10,150 USD/ton...
A recent report by Simexco Daklak said that domestic pepper prices in Vietnam have increased again after many weeks of stable trading. In addition, transportation costs have shown signs of decreasing, promoting pepper export activities.
According to Simexco Daklak, global pepper output in 2024 is expected to reach around 465,000 tons, down 1.2% from last year. Meanwhile, global pepper demand is expected to reach 529,000 tons, exceeding output by 64,000 tons. This causes inventories to continue to fall to 428,000 tons, the lowest level in the past 6 years.
In Vietnam, although pepper prices are forecast to increase, pepper gardens in the Central Highlands and the Southeast provinces are under great competitive pressure from a number of other crops, especially durian. Vietnam's pepper output in 2024 is estimated to decrease by 10-15%, reaching only about 160,000 - 170,000 tons.
*Information for reference only. Prices may vary depending on time and location.
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