Forecast of domestic pepper prices tomorrow
According to the forecast, tomorrow's pepper price, December 5, 2024, will continue to decrease sharply compared to today, December 4, 2024, with no signs of recovery. Tomorrow's pepper price is forecast to decrease by an average of more than 1,000 VND/kg, remaining at around 140,000 VND/kg. Binh Phuoc province alone is forecast to decrease the most, possibly by 2,000 VND/kg.
Pepper price today December 4, 2024, the domestic pepper price situation unexpectedly decreased dramatically compared to yesterday December 3, 2024; the average is only 141,800 VND/kg, many localities have decreased sharply.
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| Pepper price forecast for tomorrow, December 5, 2024, continues to decrease sharply. Photo: Le Son |
Accordingly, pepper prices today, December 4, 2024, Gia Lai and Dak Lak provinces both decreased by 5,000 VND/kg; Dak Nong decreased by 4,000 VND/kg; Binh Phuoc decreased by 3,000 VND/kg and Ba Ria - Vung Tau decreased by 2,000 VND/kg.
Specifically, pepper price in Gia Lai is at 140,500 VND/kg; pepper price in Ba Ria - Vung Tau, Dak Lak, Binh Phuoc is at 142,000 VND/kg; pepper price in Dak Nong is the highest but only at 142,000 VND/kg.
The reason for the decrease in domestic pepper prices is due to the impact of coffee prices: The sharp decrease in coffee prices has led to a decrease in pepper prices due to the connection between the two agricultural products; Locally increased supply: Some agents and farmers sold off their inventories before the end of the year, causing pressure to reduce prices; Climate change: Unfavorable weather conditions in some pepper growing areas have affected quality and output, causing the market to become unstable.
Pepper prices in the Central Highlands and the Southeast have both dropped sharply, especially in Gia Lai and Dak Lak with the deepest drop of VND5,000/kg. Despite the drop in pepper prices, pepper export demand remains high, especially from the US and EU markets.
Vietnam’s pepper industry is facing many challenges. These include climate change, shrinking acreage, investment costs in irrigation and disease prevention to maintain productivity, which have significantly affected competitiveness. Currently, the country has more than 115,000 hectares of pepper and spice crops, mostly concentrated in the South Central Coast – Central Highlands region with more than 75,300 hectares.
Many experts believe that pepper is entering a price increase cycle due to tight supply. Currently, the majority of the goods are in the hands of a small number of agents and import-export companies. This could lead to significant fluctuations in the market in the coming time.
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| Pepper price update today 12/4/2024 |
Forecast of world pepper price tomorrow
Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, the market was basically stable compared to the previous update, except for the Indonesian and Malaysian markets with slight fluctuations.
Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,627 USD/ton; up 0.05%; the price of Muntok white pepper at 9,143 USD/ton, up slightly 0.13%.
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| World pepper prices are basically stable. Photo: Hoang Thien |
Brazilian ASTA 570 black pepper prices remained stable at $6,000/ton. Malaysian ASTA black pepper prices were at $8,400/ton; the country’s ASTA white pepper prices reached $10,500/ton.
Of which, the price of Vietnamese black pepper is stable at 6,200 USD/ton for 500 g/l, 550 g/l remains at 6,500 USD/ton; the price of white pepper is at 9,400 USD/ton, unchanged.
According to forecast, the world pepper price tomorrow, December 5, 2024, will remain stable, if there is an increase/decrease, it will not be significant, it may decrease slightly in the Indonesian market.
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| Update world pepper prices today December 4, 2024 |
*The above pepper price forecast is for reference only, the actual price will be officially available early tomorrow morning (December 5, 2024) on Congthuong.vn.
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