Will the uptrend continue?

According to forecasts, pepper prices on November 9 tend to increase again due to the demand for pepper consumption during the year-end holiday season, which is expected to be a positive driving force to help keep pepper prices high.

With stable price momentum, Vietnam's pepper exports are expected to remain stable in the last months of 2024, benefiting producers and exporters.

In the domestic market, pepper prices today, November 8, 2024, in the Southeast region increased sharply again by 2,500 - 3,500 VND/kg in most key regions, trading around 138,000 - 139,000 VND/kg; the highest purchase price in Dak Nong and Ba Ria - Vung Tau provinces.

Pepper price forecast for November 9, 2024: The upward trend continues due to consumption demand at the end of the year

Accordingly, Dak Lak pepper price was purchased at 138,500 VND/kg, an increase of 2,500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 138,000 VND/kg, an increase of 2,500 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 139,000 VND/kg, a sharp increase of 3,000 VND/kg compared to yesterday.

In Binh Phuoc, pepper price today is at 138,000 VND/kg, a sharp increase of 3,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is currently at 139,000 VND/kg, an increase of 3,500 VND/kg compared to yesterday.

Update on 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 6,665 USD/ton, up 0.47% compared to yesterday, and the price of Muntok white pepper at 9,124 USD/ton, down 0.46% compared to yesterday.

The price of Brazilian ASTA 570 black pepper was at $6,300/ton, down 1.59%. The price of Malaysian ASTA black pepper was at $8,500/ton; the price of this country's ASTA white pepper reached $11,000/ton.

In particular, the price of Vietnamese black pepper is stable at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; and white pepper price at 9,500 USD/ton.

In the international market, Southeast Asian countries are also witnessing a decrease in pepper prices due to the impact of the strong increase in the US dollar. Forecasts show that Vietnam's pepper output will reach about 170,000 tons in the upcoming harvest, accounting for 35-40% of the global supply. Therefore, pepper prices in the world may fluctuate strongly, especially when pepper enters a new price increase cycle lasting 10-15 years, with prices likely to reach 300,000 VND/kg.

*Information for reference only. Prices may vary depending on time and location.

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-9112024-da-tang-co-con-tiep-dien-hay-khong-357733.html