According to forecasts, pepper prices on October 29th continued their downward trend in key producing regions. Experts predict that the domestic pepper price trend will continue this week. However, the aftermath of the floods following Typhoon Tra Mi may affect pepper plantations, raising concerns about impacting next year's crop yield. This could be a factor that boosts or at least helps balance the market, preventing prices from falling below 140,000 VND/kg.
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| Pepper price forecast for October 29, 2024: Continuing its downward trend towards new lows. |
In the domestic market, today, October 28, 2024, pepper prices in the Southeast region decreased by 2,000 VND/kg compared to yesterday, trading around 142,000 - 143,500 VND/kg, with the highest purchase price in Dak Nong and Dak Lak provinces at 143,500 VND/kg.
Accordingly, the price of pepper in Dak Lak is being purchased at 143,500 VND/kg, a decrease of 2,000 VND/kg compared to yesterday. The price of pepper in Chu Se ( Gia Lai ) is being purchased at 142,000 VND/kg, a decrease of 2,000 VND/kg compared to yesterday. The price of pepper in Dak Nong today is recorded at 143,500 VND/kg, a decrease of 2,000 VND/kg compared to yesterday.
In Binh Phuoc, the price of pepper today is 142,000 VND/kg, a decrease of 2,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, the price is currently 143,000 VND/kg, also down 2,000 VND/kg compared to yesterday.
On the world market, at the close of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,724 USD/ton, stable compared to yesterday, and the price of Muntok white pepper at 9,205 USD/ton, also stable compared to 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, Vietnamese black pepper is trading at $6,500/ton for the 500 g/l variety; $6,800/ton for the 550 g/l variety; and white pepper at $9,500/ton.
Pepper prices continued their downward trend at the beginning of this week amidst a shift of capital towards the coffee business. Currently, the coffee harvest season has begun, and coffee prices have doubled compared to last year. Therefore, traders and dealers need more capital. Some are choosing to sell off their pepper stocks to buy more, while demand has not improved, causing pepper prices to fall.
According to Mr. Hoang Phuoc Binh, Permanent Vice Chairman of the Chu Se Pepper Association, the increase in pepper prices is an opportunity to revive this high-value crop in the coming time.
* This information is for reference only. Prices may vary depending on the time and location.
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