The decline continues due to limited supply.

According to forecasts, pepper prices on November 4th may continue to fall due to limited supply and unrecovered demand. Pressure from investors shifting their focus to coffee is also affecting pepper prices in the short term.

In the domestic market, today's pepper prices (November 3, 2024) in the Southeast region maintained a stable trend in most key areas, except for Dak Nong which saw a slight decrease of 200 VND/kg, trading around 140,000-141,000 VND/kg; the highest purchase prices were in Dak Nong, Ba Ria - Vung Tau, and Dak Lak provinces.

Accordingly, the price of pepper in Dak Lak remains stable at 141,000 VND/kg compared to yesterday. The price of pepper in Chu Se ( Gia Lai ) is stable at 140,000 VND/kg compared to yesterday. The price of pepper in Dak Nong today is recorded at 141,000 VND/kg, a decrease of 200 VND/kg compared to yesterday.

Pepper price forecast for November 4, 2024: Continuing decline due to limited supply.

In the Southeast region, pepper prices today remain unchanged compared to yesterday. Specifically, in Binh Phuoc, the price of pepper today is 140,000 VND/kg, stable compared to yesterday. In Ba Ria - Vung Tau, the price is currently 141,000 VND/kg, also stable compared to yesterday.

World Pepper Price Update: According to the International Pepper Association (IPC), at the close of the most recent trading session, the IPC listed Indonesian Lampung black pepper at US$6,683/ton, unchanged from yesterday, and Muntok white pepper at US$9,150/ton, also stable from yesterday.

Brazilian ASTA 570 black pepper is priced at US$6,400/ton. Malaysian ASTA black pepper is priced at US$8,500/ton; the price of Malaysian ASTA white pepper reached US$11,000/ton.

Specifically, the price of Vietnamese black pepper remained stable, trading at US$6,500/ton for the 500 g/l variety; US$6,800/ton for the 550 g/l variety; and the price of white pepper was US$9,500/ton.

According to experts, Vietnam is about to enter its harvest season with a projected output of around 170,000 tons, accounting for approximately 35-40% of the global supply. Therefore, world pepper prices may continue to fluctuate.

However, overall pepper supply remains lower than demand, and experts predict that prices for this commodity are likely to remain favorable. Capital is shifting towards coffee, but news of a delayed harvest is causing market concerns about medium-term supply.

Pepper prices remain better than in previous years, and many farmers have achieved high profits. Short-term price fluctuations are possible as this commodity is influenced by many factors.

In the short term, the pepper market is expected to continue facing significant volatility. Pepper prices are likely to remain stable or decline slightly due to limited supply and the lack of strong recovery in consumer demand.

However, in the long term, as the global economy stabilizes and climate change adaptation solutions are effectively implemented, the pepper market may recover and develop again.

*This information is for reference only. Prices may vary depending on the time and location.

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-4112024-tiep-da-giam-do-nguon-cung-han-che-356539.html