Will prices resume their upward trend?

Forecast of domestic pepper prices tomorrow.

According to forecasts, the price of pepper in Vietnam tomorrow, December 7th, 2024, will continue to rise sharply compared to today, December 6th, 2024. The forecast predicts an average increase of over 1,000 VND/kg, reaching approximately 144,500 VND/kg; many localities will see a sharp increase of 2,000 VND/kg.

Today, December 6, 2024, domestic pepper prices have suddenly reversed course and increased significantly compared to yesterday, December 5, 2024; averaging 143,400 VND/kg, with many localities experiencing higher prices.

The forecast for pepper prices tomorrow, December 7th, 2024, is that they will continue to rise. Photo: Le Son

Accordingly, domestic pepper prices today, December 6, 2024, increased by 2,000 VND/kg in Ba Ria - Vung Tau province; other localities such as Gia Lai, Dak Lak , Binh Phuoc and Dak Nong all increased by 3,000 VND/kg compared to yesterday, December 5, 2024.

Specifically, the price of pepper in Gia Lai , Ba Ria - Vung Tau, and Binh Phuoc is all at 143,000 VND/kg; while the price of pepper in Dak Lak and Dak Nong is at 144,000 VND/kg. The average price of pepper today, December 6, 2024, is 143,400 VND/kg, a sharp increase of 2,800 VND/kg.

According to Ms. Hoang Thi Lien, President of the Vietnam Pepper and Spice Association (VPSA), Vietnam is expected to export an additional 50,000 tons of pepper in the last two months of 2024, bringing in $300 million.

Looking ahead to 2025, the pepper industry will focus on supporting farmers and businesses to meet international standards for food quality and safety. This is part of a long-term strategy to enhance product value and expand international markets, contributing to strengthening the position of Vietnamese pepper in the world .

The 2025 harvest is projected to be delayed by approximately 1.5 to 2 months due to the effects of climate change, starting later in February 2025. This increases supply pressure amidst continued high demand.

However, farmers are advised not to sell their pepper prematurely or borrow money to store it, to avoid the risks of price fluctuations. Instead, they should balance their finances to stockpile goods and wait for the opportunity for higher prices at the end of 2025.

Updated pepper prices today, December 6, 2024

Forecast for tomorrow's world pepper prices

According to the International Pepper Association (IPC), the world pepper price update at the end of the most recent trading session showed that the market remained basically stable compared to the previous update, with only slight and insignificant fluctuations in the Indonesian and Malaysian markets.

Specifically, IPC listed the price of Indonesian Lampung black pepper at US$6,684/ton, up 0.4%; and Muntok white pepper at US$9,123/ton, a slight increase of 0.41%.

Brazilian ASTA 570 black pepper prices remained stable at US$6,250/ton; Malaysian ASTA black pepper prices were at US$8,200/ton, down 1.22%; and Malaysian ASTA white pepper prices reached US$10,400/ton, a slight decrease of 0.96%.

The pepper market will remain volatile, and farmers are advised not to sell their pepper prematurely or borrow money to store it, to avoid risks from price fluctuations. Photo: Le Son

Specifically, the price of Vietnamese black pepper remained stable at US$6,200/ton for the 500 g/l grade, and US$6,500/ton for the 550 g/l grade; the price of white pepper remained unchanged at US$9,300/ton.

According to forecasts, world pepper prices tomorrow, December 7, 2024, will remain stable, with no significant increase or decrease, and possibly slight fluctuations in the Indonesian and Malaysian markets.

*The above pepper price forecast is for reference only; the actual official price will be available early tomorrow morning (December 7, 2024) on Congthuong.vn.

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-mai-7122024-quay-lai-da-tang-gia-362904.html