Forecast domestic pepper price tomorrow, domestic pepper price tomorrow December 29, 2024 is stable and anchored at a high level. Currently, the average pepper purchase price in localities is 146,800 VND/kg.
Today's pepper price was updated on the afternoon of December 28, 2024 as follows: Domestic pepper prices continued to stay high and increased slightly compared to the previous trading session, fluctuating from 146,500 - 147,5000 VND/kg.
Specifically, today's pepper price in Gia Lai was purchased at 146,500 VND/kg (an increase of 500 VND/kg) compared to the previous day's price; similarly, pepper price in Binh Phuoc province was also purchased at 146,500 VND/kg; pepper price in Ba Ria - Vung Tau, Dak Nong, Dak Lak localities was purchased at a higher price of 147,000 VND/kg.
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| Domestic pepper price updated on December 28, 2024 |
According to experts, pepper prices are facing a new upward cycle in early 2025. The main reason is believed to be the continued decline in global supply, while demand from major markets such as China and Europe is increasing. In addition, increased transportation costs also push up pepper prices.
Experts say pepper prices are recovering after a period of decline due to reduced supply. However, due to low demand, farmers should not rush to sell or borrow money to stockpile pepper.
The Import-Export Department (Ministry of Industry and Trade) cited information from the Vietnam Pepper and Spice Association (VPSA) saying that the market is currently showing signs of speculators pushing up prices because demand from the European and American markets is temporarily suspended due to having purchased enough goods as well as nearing Christmas and New Year 2025. Currently, businesses are delivering previously signed orders, and purchases are at a low level.
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| Farmers harvest pepper in Duc Trong district, Lam Dong province. |
A recent report by the Export-Import Department (Ministry of Industry and Trade) shows that, according to data from the European Statistical Office, in the first 10 months of 2024, the EU imported 55.94 thousand tons of pepper from non-bloc markets, worth approximately 282.5 million EUR (equivalent to 296.89 million USD), up 32.7% in volume and 55.6% in value over the same period last year.
Of which, Vietnam is the largest supplier of pepper from outside the bloc to the EU in the first 10 months of 2024, reaching over 37 thousand tons, worth 181.9 million EUR (equivalent to nearly 191.2 million USD), up 41.2% in volume and 74% in value over the same period last year.
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| Update world pepper prices today December 28, 2024 |
Forecast of world pepper price tomorrow December 29, 2024. According to the forecast, world pepper price tomorrow will remain stable. However, there will still be an increase - decrease in pepper price in the markets of countries.
Update on world pepper prices from the International Pepper Community (IPC) on the afternoon of December 28, 2024 as follows: After many sessions of increase, Indonesian pepper prices turned to decrease slightly, on the contrary, pepper prices in Malaysia bounced back, an increase of about 100 USD/ton; pepper prices in Brazil and Vietnam continued to remain stable at a high level.
Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,817 USD/ton (down 18 USD/ton) compared to the previous trading session; the price of Muntok white pepper reached 8,921 USD/ton (down 24 USD/ton).
The price of Malaysian ASTA black pepper increased and was purchased at 8,500 USD/ton (up 100 USD/ton) compared to the previous trading session; the price of ASTA white pepper was at 10,700 USD/ton (up 100 USD/ton).
The price of Brazilian black pepper ASTA 570 continues to remain stable at a fairly high level, currently at $6,275/ton.
The export price of Vietnamese black pepper is stable, currently reaching 6,400 USD/ton for 500 g/l and 6,700 USD/ton for 550 g/l; the price of white pepper is high at 9,600 USD/ton.
*The above pepper price forecast is for reference only, the actual price will be officially available early tomorrow morning (December 29, 2024) on Congthuong.vn.
Source: https://congthuong.vn/du-bao-gia-tieu-trong-nuoc-ngay-mai-29122024-366721.html
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