Market increases across the board, prices double the same period last year, Vietnamese pepper benefits

Pepper price today October 25, 2024 in the domestic market increased slightly in some key localities, trading from 144,500 - 146,500 VND/kg.

Pepper price today October 25, 2024: Market increases across the board, price doubles the same period last year, Vietnamese pepper benefits. (Source: Food Hacks)

Pepper price today October 25, 2024 in the domestic market increased slightly in some key localities, trading from 144,500 - 146,500 VND/kg.

Specifically, pepper price today in Gia Lai is at 145,200 VND/kg.

Pepper prices today in the provinces of Dong Nai (144,500 VND/kg); Dak Lak (146,200 VND/kg); Dak Nong (146,500 VND/kg); Ba Ria - Vung Tau (145,000 VND/kg) and Binh Phuoc (145,000 VND/kg).

Thus, domestic pepper prices today increased slightly in some key growing areas, increasing by 1,000 - 1,500 VND/kg. The highest pepper price is at 146,500 VND/kg.

Pepper prices were under downward pressure in the third quarter and early October as agricultural companies, agents and intermediaries were actively selling black pepper. This activity was mainly driven by liquidity needs, as sellers sought to raise capital to invest in coffee, an agricultural product that is in the harvest season.

In addition, the fact that Brazil and Indonesia are in the harvest season, while world demand is not increasing strongly, along with China not buying much, also contributed to the price decrease in the third quarter.

However, low domestic inventories have kept pepper prices high. Domestic pepper prices are still nearly 80% higher than at the beginning of the year and double the same period last year. Pepper and coffee are the two agricultural products with the strongest price increases in recent times.

According to the General Department of Customs, the average export price of Vietnamese pepper in the first 15 days of October exceeded 6,500 USD/ton ($6,501/ton), up slightly by 0.7% compared to the previous month and up 67.6% compared to the same period last year. This is also the highest export price achieved in nearly 8 years, since March 2017.

According to experts, the slight upward trend in pepper export prices in the international market, along with Vietnam preparing to enter the end of the year, a time of high consumption demand, will help maintain current prices.

However, experts also warn that pepper prices may be affected by the global economic situation and factors such as fluctuations in supply and demand in major consumer markets such as the US, Europe and China.

In the long term, pepper export prices will remain supported due to the expected decrease in Vietnam's pepper output in the 2025 crop. Vietnam's 2025 pepper crop is expected to be harvested almost entirely in February, with some regions extending to March and April, 1-2 months later than in previous years.

It is forecasted that world pepper prices will remain high in the short term due to limited supply. As a result, the Vietnamese pepper industry will also benefit.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,727 USD/ton, down 0.39%; the price of Brazilian black pepper ASTA 570 at 6,400 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,700 USD/ton.

Muntok white pepper price is 9,210 USD/ton, down 0.39%; Malaysian ASTA white pepper price is at 11,200 USD/ton.

Vietnamese black pepper prices are trading at 6,500 USD/ton for 500 g/l; 6,800 USD/ton for 550 g/l; white pepper prices are at 9,500 USD/ton. IPC continues to slightly reduce Indonesian pepper prices.

Domestic pepper prices increased sharply while the International Pepper Community continued to reduce Indonesian pepper prices.

Source: https://baoquocte.vn/gia-tieu-hom-nay-25102024-thi-truong-dong-loat-tang-gia-gap-doi-cung-ky-nam-ngoai-ho-tieu-viet-huong-loi-291236.html