According to forecasts, pepper prices on November 7 tend to decrease. In the short term, specifically in November 2024, 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.
According to experts, Vietnam is about to enter the harvest season with an estimated output of around 170,000 tons, accounting for about 35-40% of the global supply. Therefore, the world pepper price may still fluctuate. The overall pepper supply is still lower than the demand, so the price of this item is likely to remain at a good level.
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| Pepper price forecast for November 7, 2024: Will pepper prices drop dramatically? |
According to pepper exporting enterprises, although turnover has increased sharply in recent times, they also face many difficulties in the production and business process.
In the domestic market, pepper prices today, November 6, 2024, in the Southeast region maintained a flat price trend in most key regions, trading around 140,000 - 141,000 VND/kg; the highest purchase price in Dak Nong and Dak Lak provinces.
Accordingly, Dak Lak pepper price is purchased at 141,000 VND/kg. Chu Se pepper price (Gia Lai) is purchased at 140,000 VND/kg. Dak Nong pepper price today is recorded at 141,000 VND/kg.
In the Southeast region, pepper prices today have changed compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 140,000 VND/kg. In Ba Ria - Vung Tau, it is currently at 140,000 VND/kg, down 1,000 VND/kg compared to yesterday.
Update on world pepper prices 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 6,671 USD/ton, down 0.18% compared to yesterday, the price of Muntok white pepper at 9,133 USD/ton, down 0.19% 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 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.
Recently, pepper export turnover has increased sharply, but businesses exporting this product also face many difficulties in the production and business process.
In recent weeks, the selling pressure on the market has increased as the coffee harvest is underway. The large capital demand for investment in the coffee crop has caused many farmers and agents to switch to selling pepper to raise capital, putting pressure on domestic pepper prices.
The demand for pepper consumption during the year-end holiday season will be a positive driving force for pepper prices in the market. With prices remaining high, pepper exports are expected to continue to be a bright spot for Dak Lak province in particular and the Central Highlands region in general in the last two months of 2024.
*Information for reference only. Prices may vary depending on time and location.
Source: https://congthuong.vn/du-bao-gia-tieu-ngay-7112024-gia-tieu-lieu-co-giam-soc-357220.html
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