Sharp increase, back to 150,000 VND/kg?

Pepper price forecast on July 23, 2024 will increase sharply to 150,000 VND/kg. Commenting on pepper price this week, experts said it is still in a tug-of-war situation with no further push to help the market break out.

According to the General Department of Customs, pepper is the item with the highest increase in export price among agricultural products, up 55% compared to the same period last year, from 3,686 USD/ton to 5,727 USD/ton. Pepper export volume increased 53% compared to the same period last year, reaching 10,796 tons, contributing to pushing export turnover to 61 million USD, an increase of 137%. This is also the only item with triple-digit growth in turnover among agricultural products.

Pepper price forecast on July 23, 2024: Strong increase, returning to 150,000 VND/kg?

Preliminary statistics from the Vietnam Pepper and Spices Association (VPSA) show that in the first 15 days of July 2024, Vietnam exported 9,993 tons of pepper, with a total export turnover of 56.5 million USD.

Pepper price today, July 22, 2024, in the Southeast region, increased by 1,000 - 1,500 VND/kg in some localities, trading around 146,000 - 147,500 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 147,500 VND/kg.

Specifically, Dak Lak pepper price was purchased at 147,500 VND/kg, an increase of 1,500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 146,000 VND/kg. Dak Nong pepper price today was recorded at 147,500 VND/kg.

In the Southeast region, pepper prices today increased by 1,000 - 1,500 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is still at 146,000 VND/kg; in Binh Phuoc, pepper prices today decreased to 146,500 VND/kg.

In the world market, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,191 USD/ton, down 0.25%; the price of Brazilian black pepper ASTA 570 at 7,125 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9,157 USD/ton, down 0.24%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnamese black pepper prices remain high at 6,000 USD/ton for 500 g/l; 6,600 USD/ton for 550 g/l; white pepper prices at 8,800 USD/ton. According to the International Pepper Association (IPC), pepper prices in Brazil and Vietnam remain unchanged. Indonesian black pepper prices decreased compared to yesterday.

The market is waiting for information from the Conference summarizing the production and import-export situation of the spice industry in the first 6 months of 2024 and production and business orientation for the last 6 months of 2024, of the Vietnam Pepper and Spice Association taking place at the end of this month.

It is expected that the Vietnam Pepper and Spice Association will announce a panoramic picture of the current pepper industry, including the output of the just-ended crop.

This will be important information to be awaited at this time. Because previously, the Association had only predicted that the output of the last crop would decrease by 10-15%, to about 170,000 tons. But then some sources of information assessed that the output of the 2023-2024 crop would not decrease that much. It could even increase again next year.

Based on the Association's reliable data, businesses, traders and farmers will have calculations for the market in the following months.

Domestic pepper price on July 22 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease compared to yesterday
Chu Se (Gia Lai)	VND/kg	147,000	+1,000
­­ Dak Lak	VND/kg	147,500	+1,500
Dak Nong	VND/kg	147,500	+1,500
Binh Phuoc	VND/kg	146,000	+1,000
Ba Ria - Vung Tau	VND/kg	146,000	+1,000

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

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-2372024-tang-manh-tro-lai-moc-150000-dongkg-334062.html