Pepper price forecast June 26, 2024: Continue to decline?

Pepper price forecast on June 25, 2024 continues to decline sharply after consecutive days of increase. According to experts, the above sharp decline is a summary of the listed buying and selling prices of agents and import-export companies. In fact, with the current price decrease, the transaction volume on the market is not much.

This year, with low reserves, most farmers are holding on to their goods, in a context where they are not under financial pressure like in previous years. The sharp decline earlier this week may have been due to speculative factors from market participants. Agents who held on to farmers’ goods are now turning to squeeze prices.

Pepper price forecast June 26, 2024: Continue to decline?

In addition, domestic pepper prices have also fallen due to the impact of the plummeting world market. In the last two consecutive sessions, Vietnam's pepper export prices have fallen sharply. Before the Muslim holiday of Eid al-Adha, the market increased sharply due to high purchasing volume. Immediately after the holiday, the market returned to normal, causing prices to fall sharply.

In the domestic market, pepper prices today, June 25, 2024, in the Southeast region, decreased sharply from 6,000 - 9,000 VND/kg in all localities, trading around 145,000 VND/kg, the highest purchase price in Dak Lak, Ba Ria - Vung Tau, Binh Phuoc provinces was 146,000 VND/kg.

Accordingly, Dak Lak pepper price is purchased at 146,000 VND/kg. Chu Se pepper price (Gia Lai) is currently at 145,000 VND/kg. Dak Nong pepper price today is recorded at 145,000 VND/kg.

In the Southeast region, pepper prices today dropped sharply from 6,000 - 7,500 VND/kg. Specifically, in Ba Ria - Vung Tau, it dropped to 146,000 VND/kg; in Binh Phuoc, pepper prices reached 146,000 VND/kg.

Domestic pepper price on June 25 , 2024

Province, city	Unit	Trader purchase price	Increase/decrease compared to yesterday
Chu Se (Gia Lai)	VND/kg	145,000	– 6,500
­­ Dak Lak	VND/kg	146,000	– 9,000
Dak Nong	VND/kg	145,000	– 9,000
Binh Phuoc	VND/kg	146,000	– 6,000
Ba Ria - Vung Tau	VND/kg	146,000	– 7,500

In the world market, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,090 USD/ton, down 9.62%; the price of Brazilian black pepper ASTA 570 at 7,200 USD/ton, down 4.17%; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.

Muntok white pepper price is 9.02 USD/ton, down 7.36%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam's black pepper price is trading at 5,900 USD/ton for 500 g/l, down 10.17%; 550 g/l is at 6,300 USD/ton, down 9.52%; white pepper price is at 8,800 USD/ton, down 1.23%. IPC sharply reduced pepper prices in Indonesia and Brazil, sharply reducing Vietnam's pepper export price.

The pepper market reacted in mixed ways last week. Specifically, in the South Asian region, domestic and international pepper prices in India continued to increase for the past 5 weeks. After 5 weeks of increase, domestic pepper prices in Sri Lanka decreased last week.

In Southeast Asia, despite the Indonesian Rupiah falling 1% against the USD (IDR 16,415/USD), both domestic and export pepper prices continued to increase since last week.

Domestic pepper prices in Malaysia continued to increase over the past two weeks. Moreover, the country's export pepper prices also recorded an increase. Only domestic black pepper prices in Vietnam recorded a decrease last week. Other types were stable.

After three weeks of increases, Brazilian black pepper prices recorded a decrease last week. Chinese white pepper and Cambodian black pepper prices were stable and unchanged.

* Information for reference only. Prices may vary by location.

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-2662024-tiep-da-lao-doc-328134.html