Pepper price today October 27, 2024: Continue to decrease from 500

Pepper price today, October 27, 2024, in the Southeast region decreased by 500 - 1,000 VND/kg compared to yesterday, trading around 144,000 - 145,500 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces is 145,500 VND/kg.

Accordingly, Dak Lak pepper price was purchased at 145,500 VND/kg, down 1,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 144,000 VND/kg, down 500 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at the highest level of 145,500 VND/kg, down 500 VND/kg compared to yesterday.

In the Southeast region, pepper prices today also fluctuated compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 144,000 VND/kg, down 1,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is currently at 145,000 VND/kg, down 1,000 VND/kg compared to yesterday.

Pepper price today October 27, 2024: Continue to decrease from 500 - 1,000 VND/kg

Thus, domestic pepper prices today in key regions continued to decrease compared to yesterday, recording the highest price at 145,500 VND, fluctuating in the price range of 144,000 - 145,500 VND/kg.

World pepper price today

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 6,724 USD/ton, stable compared to yesterday, and the price of Muntok white pepper at 9,205 USD/ton, stable compared to yesterday.

The price of Brazilian ASTA 570 black pepper is at 6,400 USD/ton. The price of Malaysian ASTA black pepper is at 8,500 USD/ton; the price of this country's ASTA white pepper is at 11,000 USD/ton.

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

Pepper prices in most major cities and provinces have recorded a decrease, reflecting the difficult market situation when pepper supply continues to be abundant but consumption demand has not shown clear signs of growth.

The high price of coffee this year has forced many traders to need more capital, leading to them having to sell some pepper to invest in coffee. However, many people are still patiently holding on to their pepper, hoping for higher prices in the future, despite their anxiety because the current pepper price has not reached expectations.

However, the market is still showing some positive signs. Demand from China and the year-end holiday season could provide a boost to prices. Forecasts show that Vietnam’s pepper harvest next year will be delayed by a month, which could raise concerns about supply and open up opportunities for pepper prices to rise again in the coming time.

According to the Center for Industry and Trade Information - Ministry of Industry and Trade, the unstable global economic situation is negatively affecting the demand for pepper consumption in many countries. Rising inflation and the risk of economic recession in many countries are causing consumers to tighten their spending, reducing the demand for non-essential items such as pepper.

In the short term, the pepper market is expected to continue to face many fluctuations. Pepper prices may remain stable or decrease slightly due to limited supply and no signs of strong recovery in demand.

However, in the long term, when the world economic situation is more stable and climate change adaptation solutions are effectively implemented, the pepper market will likely recover and develop again.

Domestic pepper price on October 27, 2024