The market is constantly fluctuating, identifying factors that are holding back the recovery momentum

Pepper prices today, October 21, 2024, in the domestic market continued to decrease in some key localities, trading from 142,500 - 143,500 VND/kg.

Pepper price today October 21, 2024: The market fluctuates continuously, identifying factors holding back the recovery momentum. (Source: Incredibleman)

Pepper prices today, October 21, 2024, in the domestic market continued to decrease in some key localities, trading from 142,500 - 143,500 VND/kg.

Specifically, pepper price today in Gia Lai is at 143,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (142,500 VND/kg); Dak Lak (144,500 VND/kg); Dak Nong (144,500 VND/kg); Ba Ria - Vung Tau (143,500 VND/kg) and Binh Phuoc (143,000 VND/kg).

Thus, after 2 days of decline, domestic pepper prices today increased slightly by 500 - 1,000 VND/kg in some key growing areas. The highest pepper price was recorded at 144,500 VND/kg.

Last week, pepper prices in the Central Highlands increased slightly by VND500/kg, while those in the Southeast decreased. The market fluctuated continuously within a small range.

In 2014, Vietnam's pepper exports reached a record high of 1.2 billion USD. However, farmers in many provinces have been massively expanding their pepper growing areas, causing output to increase sharply, supply to exceed demand, and prices to continuously fall.

At times, pepper prices fell below cost, farmers suffered heavy losses, significantly reduced their acreage or switched to other crops. The once "black gold" crop caused many people to lose everything.

Since then, pepper exports have lost the $1 billion mark and have been moving away from it. However, after 9 months of 2024, for the first time in 10 years, pepper exports have reached the $1 billion mark, and may set an all-time high of $1.3 billion by the end of 2024.

The high price has caused many farmers to invest in pepper garden care again. However, managers and experts advise people to be cautious when replanting, focusing on intensive farming and sustainability.

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,794 USD/ton; the price of Muntok white pepper at 9,302 USD/ton.

The price of Brazilian ASTA 570 black pepper was at USD 6,400/ton. The price of Malaysian ASTA black pepper remained stable at USD 8,700/ton; the price of this country's ASTA white pepper reached USD 11,200/ton.

Today, Vietnam's black pepper price is trading at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price at 9,500 USD/ton.

The pepper market is currently facing many difficulties, with the amount of pepper stored in warehouses of businesses and traders being less than in previous years. Businesses are stockpiling to prevent a late harvest next year, while people hope that pepper prices will continue to increase.

However, competition from new sources of pepper from Indonesia, especially China's increased purchase of pepper from Indonesia, is holding back the recovery of the domestic market. The main consumer markets are Europe and the United States, but demand there has not shown signs of recovery, causing difficulties for Vietnam's pepper export prices.

According to the Import-Export Department (Ministry of Industry and Trade), in the long term, pepper export prices will be supported by the expected decrease in Vietnam's pepper output in the 2025 crop. The 2025 harvest is expected to last until March and April, 1-2 months later than previous years, due to the impact of prolonged drought, making pepper supply increasingly scarce.

Source: https://baoquocte.vn/gia-tieu-hom-nay-21102024-thi-truong-bien-dong-lien-tuc-nhan-dinh-yeu-to-kim-ham-da-phuc-hoi-290777.html