The domestic pepper price market has witnessed a slight decrease in recent days, with pepper prices in key regions such as the Southeast and the Central Highlands trading around 147,000 - 148,000 VND/kg. On October 4, 2024, Dak Lak pepper prices were purchased at 148,000 VND/kg, down 1,000 VND/kg compared to yesterday. Chu Se pepper prices (Gia Lai) were purchased at 147,000 VND/kg, down 500 VND/kg compared to yesterday. Similarly, Dak Nong pepper prices also decreased by 500 VND/kg, down to 148,000 VND/kg.
In the Southeast region, pepper prices also fluctuated similarly. Ba Ria – Vung Tau remained at 148,000 VND/kg, while Binh Phuoc decreased by 1,000 VND/kg compared to yesterday, down to 148,000 VND/kg.
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| Pepper price forecast tomorrow (October 5, 2024): Pepper price continues to decrease slightly, a sign of market slowdown? |
This slight downward trend reflects the general situation in the international pepper market, where pepper prices from Indonesia and Brazil are on a downward trend due to abundant supplies from the new harvest. China, a major consumer market, is also restricting imports, putting downward pressure on pepper prices in the global market.
Specifically, according to the International Pepper Association (IPC), at the end of the most recent trading session, the price of Indonesian Lampung black pepper was at 6,826 USD/ton, the price of Muntok white pepper was at 9,128 USD/ton. The price of Brazilian ASTA 570 black pepper was at 6,850 USD/ton. The price of Malaysian ASTA black pepper remained at 8,900 USD/ton; the price of this country's ASTA white pepper reached 11,400 USD/ton. The price of Vietnamese black pepper remained stable at 6,800 USD/ton for the 500 g/l type; the 550 g/l type was at 7,100 USD/ton; the price of white pepper remained at 10,150 USD/ton.
However, in addition to the unfavorable factors, the Vietnamese pepper market still recorded some bright spots. According to preliminary data from the General Department of Customs, in September 2024, Vietnam exported 20,000 tons of pepper, earning 125 million USD, up 10.4% in volume but the value skyrocketed 84.9% over the same period last year. Accumulated to the end of September, pepper exports reached 203,000 tons, earning more than 1 billion USD, down 1.5% in volume but up 46.9% in value. The reason is that the export price of pepper increased sharply by 49.2% over the same period last year, to 4,941 USD/ton.
Notably, last September, the average export price of "black gold" reached 6,239 USD/ton, an increase of 67.5% compared to the same period last year and this was also the month with the highest export price in many years.
Although pepper export prices are high, it should also be noted that commercial fraud in the pepper industry is currently on the rise.
In general, the domestic pepper market is in a state of stagnation, with the impact of both international and domestic factors. It is forecasted that in the coming days, pepper prices may continue to decrease slightly, fluctuating between 145,000 - 148,000 VND/kg. However, with pepper exports still at a positive level, the Vietnamese pepper market still has the opportunity to recover and maintain stable prices in the coming time.
Farmers need to closely monitor the market situation, grasp accurate information and have appropriate business strategies to avoid risks.
*Pepper price forecast is for reference only.
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