| Pepper price forecast for July 5, 2024: Will pepper prices continue to slide? Pepper price forecast for July 6, 2024: Will they skyrocket again? |
Pepper prices are forecast to increase sharply again on July 7, 2024. According to many farmers in pepper growing areas, although prices have increased, growers have not benefited much because most of the old pepper gardens have been replaced by durian and some other crops with higher economic value. On the other hand, due to the impact of climate change, pepper productivity has decreased sharply in recent years, averaging 20-30%.
Economic experts believe that pepper prices will continue to increase, although in the short term there may be some downward adjustments, but they will not be too deep and the market has formed a new price level.
However, the current pepper price is still not attractive enough for people to sell massively, because durian and coffee are at very good prices, helping farmers have enough financial capacity to store pepper. Even when the price is high like now, they still choose to sell "drop by drop" to test the market.
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| Pepper price forecast on July 7, 2024: Continued shocking increase |
Meanwhile, in the domestic market, pepper prices today, July 6, 2024, in the Southeast region continued to decrease by 4,000 - 5,000 VND/kg in some localities, trading around 145,000 - 146,000 VND/kg, the highest purchase price in Dak Lak, Dak Nong, Ba Ria - Vung Tau provinces was 146,000 VND/kg.
Accordingly, Dak Lak pepper price is purchased at 146,000 VND/kg, a decrease of 5,000 VND/kg compared to yesterday's price. Chu Se pepper price (Gia Lai) is currently at 145,000 VND/kg, a decrease of 4,000 VND/kg compared to yesterday. Dak Nong pepper price today is recorded at 146,000 VND/kg, a decrease of 5,000 VND/kg.
In the Southeast region, pepper prices today increased by VND2,000/kg. Specifically, in Ba Ria - Vung Tau, it increased by VND2,000 to VND148,000/kg; in Binh Phuoc, it increased by VND2,000/kg, pepper prices were at VND147,000/kg.
In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,142 USD/ton, up 0.18%; the price of Brazilian black pepper ASTA 570 at 7,250 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 7,500 USD/ton.
Muntok white pepper price is 9,093 USD/ton, up 0.45%; Malaysian ASTA white pepper price is at 8,800 USD/ton.
Vietnam's black pepper price is trading at 6,000 USD/ton for 500 g/l; 550 g/l at 6,600 USD/ton; white pepper price at 8,800 USD/ton, down 2.22%.
IPC slightly increased pepper prices in Indonesia; slightly decreased export prices of all types of pepper from Vietnam.
Domestic pepper price on July 6 , 2024
Province, city | Unit | Trader purchase price | Increase/decrease compared to yesterday |
Chu Se (Gia Lai) | VND/kg | 148,000 | +3,000 |
Dak Lak | VND/kg | 150,000 | +4,000 |
Dak Nong | VND/kg | 149,000 | +3,000 |
Binh Phuoc | VND/kg | 147,000 | +2,000 |
Ba Ria - Vung Tau | VND/kg | 148,000 | +2,000 |
According to experts, the domestic pepper market is increasingly unpredictable because it is being influenced by many factors. After a slight increase at the beginning of the week, domestic pepper prices suddenly plummeted for 3 consecutive days with a total decrease of up to 15,000 VND/kg, equivalent to a decrease of nearly 10% compared to the beginning of the week.
Industry experts and the Vietnam Pepper and Spice Association (VPSA) believe that the global pepper supply shortage will continue in the coming time. There are still about 2 months left for Brazil's 2024 pepper crop to hit the market. Until then, the supply will still depend on Vietnamese businesses. This continues to be an advantage for Vietnamese pepper.
Information for reference only. Prices may vary depending on time and location.
Source: https://congthuong.vn/du-bao-gia-tieu-ngay-772024-tiep-tuc-tang-soc-330486.html
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