| Pepper price forecast for July 18, 2024: No new momentum for price increase yet? Pepper price forecast for July 20, 2024: Plunging without signs of increase? |
Pepper prices are forecast to decrease on July 21, 2024 compared to the same time yesterday. The domestic pepper market is in a tug-of-war. Currently, pepper prices are in a "shaky" state, meaning they go up and down, but are forecast to continue to increase. The main reason is that the pepper supply in Vietnam is currently exhausted due to a significant decrease in output in the 2023-2024 crop compared to the previous crop.
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| Pepper price forecast for July 21, 2024: Still no sign of increase? |
In the domestic market, pepper prices today, July 20, 2024, in the Southeast region, decreased sharply by 2,000-3,000 VND/kg in some localities, trading around 145,000 -147,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces was 147,000 VND/kg.
Specifically, Dak Lak pepper price was purchased at 147,000 VND/kg, down 2,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) decreased to 145,000 VND/kg, down 2,000 VND/kg compared to yesterday. Dak Nong pepper price today recorded a decrease of 147,000 VND/kg.
In the Southeast region, pepper prices today decreased by 3,000 VND/kg. Specifically, in Ba Ria - Vung Tau, it is still at 145,000 VND/kg; in Binh Phuoc, pepper prices today decreased to 145,000 VND/kg.
In the world market, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,191 USD/ton, down 0.44%; the price of Brazilian black pepper ASTA 570 at 7,125 USD/ton (down 0.34%); the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.
Muntok white pepper price is 9,157 USD/ton, down 0.53%; Malaysian ASTA white pepper price is at 8,800 USD/ton.
Vietnamese black pepper prices remain high at 6,000 USD/ton for 500 g/l; 6,600 USD/ton for 550 g/l; white pepper prices at 8,800 USD/ton. According to the International Pepper Association (IPC), pepper prices in Brazil and Vietnam remain unchanged. Indonesian black pepper prices decreased compared to yesterday.
Domestic pepper price on July 20 , 2024
Province, city | Unit | Trader purchase price | Increase/decrease compared to yesterday |
Chu Se (Gia Lai) | VND/kg | 145,000 | -2,000 |
Dak Lak | VND/kg | 147,000 | -2,000 |
Dak Nong | VND/kg | 147,000 | -2,000 |
Binh Phuoc | VND/kg | 145,000 | -3,000 |
Ba Ria - Vung Tau | VND/kg | 145,000 | -3,000 |
IPC commented that the pepper market continued to have mixed reactions this week. Both domestic and international Indian pepper prices have been on a downward trend since last week. Meanwhile, domestic and international Indonesian pepper prices have been stable this week, as most pepper factories in Indonesia have started operating. Some other countries have decreased.
News of crop failures in major producing countries such as India, Indonesia, and Brazil has not had a significant impact on the market. According to experts, the harvest in Indonesia is underway and supply is expected to increase.
However, the country's annual output is estimated to be mostly consumed domestically, with exports steadily decreasing. The market will wait until there is a full picture of Indonesia's harvest output. If output declines as expected, it will be a boost for global pepper prices in the second half of Q3/2024.
*Information for reference only. Prices may vary depending on time and location.
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