Mitigation, entering the new season, shortage of goods is certain?

Pepper price forecast August 22, 2024: Surpassing the 140,000 VND mark, will the price increase cycle continue? Pepper price forecast August 23, 2024: Skyrocketing to reach 145,000 VND/kg?

Pepper prices are forecast to drop sharply on August 25, 2024. According to the Vietnam Pepper and Spice Association (VPSA), by the end of July, Vietnam's pepper exports were estimated at about 164,300 tons, with a turnover of 652 million USD; down 2.2% in volume but up 41% in value compared to the same period in 2023.

The association also estimates that Vietnam's pepper output in 2024 will only reach about 170,000 tons, down 10% compared to the previous year - the lowest level in the past 5 years.

Pepper price forecast for August 25: Slight decrease, is shortage certain when entering the new crop?

Currently, the domestic and international supply shortage cannot be compensated in a short time, creating conditions for pepper prices to stay high, thereby earning large export turnover despite the decrease in export volume.

In the domestic market, pepper prices today, August 24, 2024, in the Southeast region are stable compared to yesterday, trading around 142,000 - 145,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces is 145,000 VND/kg.

Accordingly, the price of Dak Lak pepper was purchased at 145,000 VND/kg, remaining unchanged compared to yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 144,000 VND/kg, stable compared to yesterday. The price of Dak Nong pepper today was recorded at 145,000 VND/kg, remaining stable compared to yesterday.

In the Southeast region, pepper prices today decreased slightly by 2,000 VND/kg compared to yesterday. Specifically, in Binh Phuoc, pepper prices today decreased to 142,000 VND/kg, down 2,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is currently at 144,000 VND/kg, stable compared to yesterday;

In the international market, updating 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 7,490 USD/ton, up 0.16% compared to yesterday, the price of Muntok white pepper down to 8,818 USD/ton, up 0.16%.

The price of Brazilian ASTA 570 black pepper remained stable at USD 6,300/ton. The price of Malaysian ASTA black pepper continued to stand firm at USD 8,500/ton; the price of this country's ASTA white pepper reached USD 10,400/ton.

Vietnam black pepper price is traded at 5,800 USD/ton for 500 g/l; 550 g/l at 6,200 USD/ton; white pepper price at 8,500 USD/ton.

Mr. Hoang Phuoc Binh - Permanent Vice President of Chu Se Pepper Association said that unlike every year, this year's pepper market has too many unusual fluctuations. However, from now until the time before the new crop (around January of the solar calendar), the shortage of goods is certain.

Pepper harvest season in Vietnam lasts from January to the end of April in key growing areas. Some pepper growing areas in Quang Tri extend the harvest season until the end of June, this number is not many.

Some gardeners shared that this new pepper crop, their pepper gardens did not produce any fruit. However, some gardeners said that they expected to have a bumper crop. This was due to weather factors.

However, to get the exact figure, it is necessary to go to the actual area of each region, each commune of the key pepper growing area. Many opinions say that it is only at the end of the year, that is, around November and December, that we can give a fairly accurate forecast of output.

However, I think this is not too important. Because if the next pepper crop is a little better than the last one, it will not be able to make up for the pepper acreage that has been lost in the past and is still being lost. Therefore, the price increase cycle is expected to continue.

Domestic pepper price on August 24, 2024