Domestic pepper prices tomorrow have a new increase cycle

Forecast domestic pepper price tomorrow, domestic pepper price tomorrow December 27, 2024 has a new increase cycle after many stable trading sessions. Currently, the average pepper purchase price in localities is 146,000 VND/kg.

Today's pepper price was updated on the afternoon of December 26, 2024 as follows: Domestic pepper price today, after many stable sessions, has started to increase strongly again, an increase of 1,000 - 2,000 VND/kg.

Specifically, today's pepper price in Gia Lai was purchased at 145,000 VND/kg (an increase of 1,000 VND/kg) compared to the previous day's price; similarly, pepper prices in Ba Ria - Vung Tau, Dak Nong, Dak Lak provinces all increased by 1,000 VND/kg and are currently at 146,000 VND/kg. In particular, pepper prices in Binh Phuoc province have increased sharply, an increase of 2,000 VND/kg and are purchased at 146,000 VND/kg.

Domestic pepper price updated on December 26, 2024

According to the Import-Export Department ( Ministry of Industry and Trade ), pepper demand is showing signs of recovery, especially in the Chinese market. The approaching year-end holiday season has increased demand, while reports of reduced exports from Vietnam have also contributed to the market price increase, which has a positive impact on global pepper prices.

Pepper prices are forecast to enter an upward cycle in early 2025, mainly due to reduced supply. In addition, higher transportation costs also play a role in pushing pepper prices up again.

According to preliminary statistics from the General Department of Customs, as of December 15, Vietnam had exported nearly 242,000 tons of pepper of all kinds, earning 1.26 billion USD. The export value far exceeded the 910.5 million USD figure for the whole year of 2023, while the export volume was about 23,900 tons lower.

Farmers in Gia Lai province harvest pepper.

According to experts' predictions, the amount of pepper in stock among the people is almost gone, only remaining in agents and warehouses of enterprises. Forecasts in the next 3-5 years, global pepper production will still not be enough to meet consumer demand, showing that pepper has entered a new price increase cycle.

According to the Vietnam Pepper and Spices Association (VPSA), the 2025 pepper crop in Vietnam will be harvested 1-2 months later than previous years due to the impact of prolonged drought, and reduced productivity will also make pepper supply increasingly difficult.

Realizing the above situation, import markets have increased their purchases. Up to now, most of them have enough goods until the first quarter of next year. This has led to the current market being quite gloomy, low demand at the end of the year has prevented pepper prices from breaking out.

Update world pepper prices today December 26, 2024

Forecast of world pepper price tomorrow December 27, 2024. According to the forecast, world pepper price tomorrow is likely to fluctuate and increase again. However, there are still increases and decreases in pepper prices in the markets of different countries.

Update on world pepper prices from the International Pepper Community (IPC) on December 26 as follows: The pepper market has stabilized after many sessions of increase and decrease.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,835 USD/ton; the price of Muntok white pepper reached 8,945 USD/ton.

The price of Brazilian ASTA 570 black pepper continues to remain stable at a fairly high level, currently at 6,275 USD/ton; the price of Malaysian ASTA black pepper is at 8,400 USD/ton, and the price of ASTA white pepper is at 10,600 USD/ton.

The export price of Vietnamese black pepper is stable, 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 27, 2024) on Congthuong.vn.

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-mai-27122024-gia-tieu-trong-nuoc-ngay-mai-co-chu-ky-tang-moi-366330.html