| Pepper price forecast September 25, 2024: Vietnam's domestic pepper prices have increased again after many weeks at a stable level Pepper price forecast September 26, 2024: Demand in major pepper import markets is quite weak |
Pepper prices are forecast to continue to decline on September 27, 2024. Currently, many farmers with sufficient financial capacity, instead of depositing money in low-interest banks, have purchased several tons of pepper to store like businesses. Previously, people did not buy pepper, but now they have a good grasp of market information so they buy and store.
Currently, the general psychology of pepper growers is that they are very happy to see high prices and still want prices to increase further. This is also a worthy benefit for farmers when there is a time when pepper falls into a low price cycle.
The Import-Export Department (Ministry of Industry and Trade) forecasts that world pepper prices will remain high in the short term due to limited supply. Brazil and Indonesia are in the harvest season, while world demand is not increasing strongly, along with China not buying much, leading to only a slight increase in prices.
In the long term, pepper export prices will remain supported due to the expected decrease in Vietnam's pepper output in the 2025 crop. Vietnam's 2025 pepper crop is expected to be harvested almost entirely in February, with some regions extending to March and April, 1-2 months later than previous years, due to the impact of prolonged drought, making pepper supply increasingly difficult.
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| Pepper price forecast September 27, 2024: Farmers increase stockpiling, pepper prices expected to increase slightly |
In the domestic market, pepper prices today, September 26, 2024, in important regions decreased by 1,000 - 3,000 VND/kg compared to yesterday and traded around 149,000 - 150,000 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces was 150,000 VND/kg.
Accordingly, Dak Lak pepper price is purchased at 150,000 VND/kg, down 3,000 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is purchased at 149,000 VND/kg, down 3,000 VND/kg compared to yesterday. Dak Nong pepper price today is at 150,000 VND/kg, down 2,000 VND/kg compared to yesterday.
In Binh Phuoc, pepper price today is 149,000 VND/kg, down 1,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is 149,000 VND/kg, down 2,000 VND/kg compared to yesterday.
At world pepper prices, updated 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 6,963 USD/ton, up 0.62%, the price of Muntok white pepper at 9,458 USD/ton, up 0.61%.
The price of Brazilian ASTA 570 black pepper was at $6,750/ton, down 2.22%. The price of Malaysian ASTA black pepper was at $8,800/ton; the price of this country's ASTA white pepper reached $11,200/ton.
The price of Vietnamese black pepper remains stable at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; white pepper price at 10,150 USD/ton...
According to experts, new supply from Indonesia has entered the market, helping to increase supply. It is estimated that Indonesia's pepper output in 2024 could reach 85,000 tons, up 5% compared to the previous year. This abundant supply creates significant downward pressure on the market.
Some of Indonesia's major pepper producing areas have completed harvesting. Producers have sold a large amount of their products. Pepper prices in Indonesia are steadily increasing and most exporters are limiting their offers.
In India, harvesting has been completed in all southern growing regions, leading to high inventories. This has also kept pepper prices on a downward trend.
The world economy is facing many uncertainties, from persistent inflation, rising interest rates to geopolitical conflicts. These factors have raised concerns about a global economic recession. In this context, pepper importers have become more cautious, limiting purchases to minimize risks. This has led to a decrease in consumption demand, causing pepper prices to fall.
In Vietnam, despite facing many difficulties due to weather and pests, Vietnam's pepper output in the next crop is still forecast to be equivalent or slightly higher than in 2024, estimated at about 170,000 tons. This means that the pepper supply in the market will continue to be abundant, causing further downward pressure on prices.
*Information for reference only. Prices may vary depending on time and location.
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