Domestic and international pepper market world is going through a period of complex fluctuations. On October 12, 2024, pepper prices in key regions such as Dak Lak, Gia Lai, Binh Phuoc has decreased by 1.000 - 3.000 VND/kg compared to yesterday. However, pepper export prices remain high and are expected to continue to be supported by scarce supply in the coming time. Based on these developments, we can predict that tomorrow's pepper price October 13, 2024 will tend to move sideways with the possibility of a slight increase, but with many unpredictable fluctuations.
According to updated information from the Vietnam Pepper and Spice Association, pepper is almost gone from the population, only remaining in stock at agents and business warehouses. The 2025 pepper crop will be harvested later than previous years due to the impact of prolonged drought, which further aggravates the supply shortage. Scarce supply is the main factor supporting long-term pepper price increases.
In addition, the global pepper consumption market is still growing strongly, especially in large markets such as the US and Europe. Higher demand than supply will continue to push up pepper prices in the coming time. It is forecasted that with favorable export prices, the pepper industry will bring in 2024 billion USD in 1,3, a record number compared to previous years.
Although domestic pepper prices have decreased, export pepper prices remain high. This is due to high demand from international markets, especially from the US and Europe.
Pepper price forecast for tomorrow October 13, 2024: Sideways trend, may increase slightly but contains many fluctuations. |
According to the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6.732 USD/ton, up 0,31%, the price of Muntok white pepper at 9.002 USD/ton, up 0,31%. The price of Brazilian ASTA 570 black pepper at 6.750 USD/ton remained unchanged compared to yesterday. The price of Malaysian ASTA black pepper at 8.700 USD/ton, down 1,15%; the price of this country's ASTA white pepper reached 11.200 USD/ton. The price of Vietnamese black pepper remained stable at 6.800 USD/ton for 500 g/l; 550 g/l at 7.100 USD/ton; the price of white pepper remained at 10.150 USD/ton...
The stability of pepper export prices is a positive signal for the domestic market. However, it should be noted that world pepper prices can also fluctuate unexpectedly due to many factors such as trade policies, weather conditions, consumption demand, etc.
Based on the above factors, it can be predicted that tomorrow's pepper price October 13, 2024 will tend to move sideways with the possibility of a slight increase. Domestic pepper prices may fluctuate between 143.000 - 145.000 VND/kg, while export pepper prices may increase slightly compared to October 12, 2024.
However, it should be noted that pepper prices can change unexpectedly due to many objective factors. Farmers and investors should closely monitor the market situation to make appropriate business decisions.
In the coming time, the pepper market will continue to face many challenges and opportunities. Responding to market fluctuations and seizing new opportunities are decisive factors for the success of the Vietnamese pepper industry.
*Information is for reference only
Sources: https://congthuong.vn/du-bao-gia-tieu-ngay-mai-13102024-xu-huong-di-ngang-co-the-tang-nhe-nhung-an-chua-nhieu-bien-dong-351957.html