According to forecasts, pepper prices on October 29 will continue to decrease in key regions. Commenting on domestic pepper prices this week, experts said the downward trend will continue. However, the rain and flood circulation after storm Tra Mi may affect pepper gardens, causing concerns about the impact on next year's crop output. This could be a factor that promotes or at least helps balance the market, so as not to fall below the 140,000 VND/kg mark.
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| Pepper price forecast October 29, 2024: Continue to plummet to new price level |
In the domestic market, pepper price today, October 28, 2024, in the Southeast region decreased by 2,000 VND/kg compared to yesterday, trading around 142,000 - 143,500 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces is 143,500 VND/kg.
Accordingly, Dak Lak pepper price was purchased at 143,500 VND/kg, down 2,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 142,000 VND/kg, down 2,000 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 143,500 VND/kg, down 2,000 VND/kg compared to yesterday.
In Binh Phuoc, pepper price today is 142,000 VND/kg, down 2,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is currently 143,000 VND/kg, down 2,000 VND/kg compared to yesterday.
In the world market, at the end 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, stable compared to yesterday.
The price of Brazilian ASTA 570 black pepper is at 6,400 USD/ton. The price of Malaysian ASTA black pepper is at 8,500 USD/ton; the price of this country's ASTA white pepper is at 11,000 USD/ton.
Of which, the price of Vietnamese black pepper is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; the price of white pepper is at 9,500 USD/ton.
Pepper prices continued to fall early this week as cash flow shifted to coffee trading. It is now the beginning of the coffee season and the price of this commodity has doubled compared to last year. Therefore, traders and agents need more capital. Some have chosen to sell off pepper in stock to import goods, while demand has not improved, causing pepper prices to fall.
Mr. Hoang Phuoc Binh - Permanent Vice President of Chu Se Pepper Association said that the increase in pepper price is an opportunity to revive this high economic value crop in the coming time.
* Information for reference only. Prices may vary depending on time and location.
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