| Pepper price forecast September 24, 2024: Vietnam's pepper output in 2024 is the lowest in the past 5 years Pepper price forecast September 25, 2024: Vietnam's domestic pepper prices have increased again after many weeks at a stable level |
Pepper prices are forecast to continue to decline on September 26, 2024. According to the Vietnam Pepper and Spice Association (VPSA), pepper is almost gone from the population, remaining only in agents and warehouses of businesses.
The inventory from the 2023 crop carried over, plus the import volume in 2024, is about 40,000 - 45,000 tons (including informal imports), showing that the export source until the end of the year will be lower than every year and until March 2025 when the 2025 crop is expected to be harvested.
In the first half of September 2024, Vietnam exported 6,917 tons of pepper, earning 42.3 million USD. Meanwhile, in the same period of August 2024, Vietnam exported 10,082 tons of pepper, with a turnover of 58.8 million USD. Thus, compared to the previous month, pepper exports are decreasing sharply, equivalent to 30%.
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| Pepper price forecast September 26, 2024: Demand in major pepper import markets is quite weak |
In the domestic market, pepper prices today, September 25, 2024, in important regions decreased by 500 - 1,500 VND/kg compared to yesterday and traded around 150,000 - 153,000 VND/kg, the highest purchase price in Dak Lak province was 153,000 VND/kg.
Accordingly, Dak Lak pepper price is purchased at 153,000 VND/kg, down 500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is purchased at 152,000 VND/kg, maintaining the same trend compared to yesterday. Dak Nong pepper price today is at 152,000 VND/kg, down 1,000 VND/kg compared to yesterday.
In the Southeast region, pepper prices today decreased by 500 - 1,500 VND/kg compared to yesterday. Specifically, in Binh Phuoc , pepper prices today are at 150,000 VND/kg, down 1,500 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is at 151,000 VND/kg, down 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 6,920 USD/ton, up 0.04%, the price of Muntok white pepper at 9,400 USD/ton, up 0.03%.
The price of Brazilian ASTA 570 black pepper was at $6,750/ton, down 2.22%. The price of Malaysian ASTA black pepper was at $8,800/ton; the price of this country's ASTA white pepper reached $11,200/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...
Currently, many farmers with enough financial capacity, instead of depositing money in banks with low interest rates, have bought several tons of pepper to store like businesses. Previously, people did not buy pepper, but now they have a good grasp of market information so they buy and store.
Currently, the general psychology of pepper growers is that they are very happy to see high prices and still want prices to increase further. This is also a worthy benefit for farmers when there is a time when pepper falls into a low price cycle.
The latest news from Phuoc Thinh Import-Export Joint Stock Company (Ptexim) said that last week saw quite weak demand in all major importing countries such as the US, China, EU, etc. The company added that the market was quite quiet last month, buyers showed little interest in pepper products and made very slow purchases. At the same time, suppliers (farmers/collectors/agents) were also very cautious in supplying raw materials.
*Information for reference only. Prices may vary depending on time and location.
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