Pepper price today, November 13, 2024 in the domestic market continued to move sideways in some key localities, trading from 139,000 - 141,200 VND/kg.
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| Pepper price today November 13, 2024: People and agents limit sales, forecast output and pepper price for 2025 crop. (Source: thehindubusinessline) |
Pepper price today, November 13, 2024 in the domestic market continued to move sideways in some key localities, trading from 139,000 - 141,200 VND/kg.
Specifically, pepper price today in Gia Lai is at 140,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (139,000 VND/kg); Dak Lak (141,000 VND/kg); Dak Nong (141,200 VND/kg); Ba Ria - Vung Tau (140,000 VND/kg) and Binh Phuoc (139,000 VND/kg).
Thus, domestic pepper prices today remained stable in most key growing areas, with the only decrease of 500 VND/kg recorded in Binh Phuoc. The highest pepper price was at 141,200 VND/kg.
Mr. Hoang Phuoc Binh, Vice President of the Chu Se Pepper Association (Gia Lai), said that the pepper price in Vietnam has decreased because Indonesia has just entered the harvest season. On the other hand, because it is the beginning of the coffee season, many agents are taking advantage of selling pepper in stock to buy coffee.
Mr. Binh predicts that the price of pepper in the 2025 crop will be higher than in the 2024 crop (at its highest, it will be 160,000 VND/kg). The primary reason is that the prolonged heat in early 2024 is greatly affecting pepper productivity, leading to a continued decrease in output in 2025.
Not only Vietnam, output is also forecast to decrease in many other countries. Meanwhile, most pepper growers in Vietnam currently have other sources of income from coffee, durian, etc., so they are not in a hurry to sell after harvest but will wait until they see a better price.
Regarding the world market, the Import-Export Department forecasts that in the short term, world pepper prices will fluctuate in a downward trend. However, the downward trend will not last long due to limited supply and increased import demand due to seasonal factors.
In major import markets, demand increased in the US, EU and Asia, but remained sluggish in the Middle East and China. Significantly reduced inventory levels caused people and dealers to limit sales.
Brazil is currently the world's second largest producer and exporter of black pepper, accounting for 17-18% of global supply. However, due to reduced production, Brazil's pepper exports in the 2024 crop will decrease for the third consecutive year.
Meanwhile, Vietnam's new pepper crop in 2025 is expected to be delayed by 1 month. This will create a certain shortage in supply, thereby positively affecting world pepper prices.
According to experts, Vietnam’s pepper is mainly exported and the reduced supply is the main reason for the high price. This year, businesses are having difficulty purchasing pepper due to reduced output.
In the first 10 months of 2024, Vietnam imported 28,596 tons of pepper of all kinds, of which black pepper reached 25,456 tons and white pepper reached 3,140 tons, with a total import turnover of 131.3 million USD. Accordingly, the import volume increased by 27.1% and the turnover increased by 78.5% over the same period last year.
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,557 USD/ton, down 2.27%; the price of Brazilian black pepper ASTA 570 at 6,000 USD/ton, down 300 USD/ton (5%); the price of Kuching black pepper (Malaysia) ASTA at 8,400 USD/ton.
Muntok white pepper price is 9,177 USD/ton, down 0.03%; Malaysian ASTA white pepper price is at 11,000 USD/ton.
Vietnam's black pepper price is trading at 6,200 USD/ton for 500 g/l, down 1.61%; 550 g/l is at 6,500 USD/ton, down 1.54%; white pepper price is at 9,400 USD/ton, down 1.06%.
IPC adjusted pepper prices down across the board, with the strongest being black pepper from other countries. Meanwhile, Vietnam's pepper export prices fell across the board after a long period of no momentum for the domestic market to increase.
Source: https://baoquocte.vn/gia-tieu-hom-nay-13112024-nguoi-dan-va-dai-ly-han-che-ban-ra-du-bao-san-luong-va-gia-hat-tieu-vu-2025-293507.html
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