Demand from markets, domestic pepper prices adjusted down

Pepper prices are forecast to continue to decline sharply on September 19, 2024. Compared to the same period last year, domestic pepper prices are much higher, which is a premise for local farmers to confidently expand their acreage, helping Vietnam maintain its position as the country with the world's leading pepper output and value.

As recorded in Xuan Loc district ( Dong Nai province), from the beginning of 2024 until now, the price of pepper has improved, making farmers in Suoi Cao and Xuan Tho communes excited, focusing on investment and expanding the area.

Specifically, this year, the pepper area in these two communes has increased by about 130 hectares compared to last year, bringing the total area to nearly 1,000 hectares (these two localities are also known as the pepper capital in Xuan Loc).

However, the locality encourages farmers not to massively switch crops, but to focus on improving and caring for existing areas in a sustainable organic direction. For new planting areas, farmers should manage fungal diseases well, choose clean, healthy pepper varieties that are suitable for the climate and soil for cultivation.

Pepper price forecast September 19, 2024: Demand from markets, domestic pepper prices adjusted down

In the domestic market, pepper prices today, September 18, 2024, in key areas decreased slightly by 1,000 - 3,000 VND/kg in Gia Lai and Ba Ria - Vung Tau, trading around 152,000 - 155,000 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces is 155,000 VND/kg.

Accordingly, the price of Dak Lak pepper was purchased at 155,000 VND/kg, unchanged from yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 153,000 VND/kg, down 1,000 VND/kg from yesterday.

In Binh Phuoc, pepper price today remains at 152,000 VND/kg. In Ba Ria - Vung Tau, it is at 152,000 VND/kg, down 3,000 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 7,595 USD/ton, up 0.43%, and the price of Muntok white pepper at 9,161 USD/ton, up 0.44%.

The price of Brazilian ASTA 570 black pepper was at USD 7,000/ton, down 4.29%. The price of Malaysian ASTA black pepper was at USD 8,800/ton; the price of this country's ASTA white pepper reached USD 10,900/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.

Sharing at the recent Pepper Industry Summary Conference, Mr. Le Duc Huy - General Director of Dak Lak 2/9 Import-Export Company Limited - Simexco, said that Vietnam's inventory is about 30%, equivalent to 50,000 - 55,000 tons.

However, in the first half of this year, Vietnam's traditional purchasing markets imported large quantities of pepper. This means that they are not in a hurry to buy more goods and are waiting.

Therefore, Mr. Huy said that although the supply shortage continues, pepper prices will hardly increase as sharply as at the beginning of the year.

Pepper prices are likely to remain at this level in the near future. Farmers still expect pepper prices to increase further.

*Information for reference only. Prices may vary depending on time and location.

Source: https://congthuong.vn/du-bao-gia-tieu-1992024-nhu-cau-tu-cac-thi-truong-gia-tieu-noi-dia-dieu-chinh-giam-346827.html