| Pepper price forecast September 14: Pepper crop in 2025 will be harvested later than last year Pepper price forecast September 15, 2024: Pepper export volume from August to the end of the year will decrease |
Pepper prices are forecast to remain high on September 16, 2024. With high pepper prices and favorable consumption markets, Vietnam's pepper export turnover is likely to exceed 1 billion USD this year, marking the return of this spice after 6 years of absence from the group of billion-dollar items.
The global pepper market is facing a potential supply shortage.
It is forecasted that the 2025 pepper crop will be harvested almost entirely in February, with many regions extending to March and April, 1-2 months later than previous years, due to the impact of prolonged drought, making pepper supply increasingly difficult.
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| Pepper price forecast September 16, 2024: Businesses need to proactively adapt to market fluctuations |
In the domestic market, pepper prices today, September 15, 2024, in key regions maintained a sideways trend compared to yesterday, trading around 152,000 - 156,000 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces was 156,000 VND/kg.
Accordingly, the price of Dak Lak pepper was purchased at 156,000 VND/kg, stable compared to yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 154,000 VND/kg, stable compared to yesterday.
In Binh Phuoc, pepper price today remains at 152,000 VND/kg. In Ba Ria - Vung Tau, it is at 155,000 VND/kg, stable compared to yesterday.
At world pepper prices, updated world pepper prices from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 7,562 USD/ton, and the price of Muntok white pepper at 9,121 USD/ton.
The price of Brazilian ASTA 570 black pepper remained at $7,400/ton. The price of Malaysian ASTA black pepper was at $8,800/ton; the price of this country's ASTA white pepper reached $10,900/ton.
Vietnam black pepper price is traded at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; white pepper price at 10,150 USD/ton.
According to the Vietnam Pepper and Spices Association (VPSA), the inventory from the 2023 crop carried over plus the import volume in 2024 is about 40,000 - 45,000 tons (including unofficial imports), showing that the export source until the end of the year will be lower than every year and until March 2025 when the 2025 crop is expected to be harvested.
In Brazil, under ideal conditions, the crop in southern Brazil (Esperito Santo and Bahia) could easily exceed 100,000 tonnes. However, due to unusual weather conditions, some forecasts suggest that this year's crop will be around 65,000 tonnes.
Indonesia recorded more inventories in the market, after some major producing regions completed the harvest.
With positive signals from the market and the efforts of businesses, the Vietnamese pepper industry is making steady progress. However, to maintain this growth momentum, businesses need to proactively adapt to market fluctuations, improve product quality and expand the consumer market.
*Information for reference only. Prices may vary depending on time and location.
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