Turning up, the bullish cycle is expected to continue

Pepper price today, August 14, 2024, in the Southeast region increased slightly by 500 - 1,000 VND/kg in some localities compared to yesterday, trading around 137,500 - 138,500 VND/kg, the highest purchase price in Dak Lak and Dak Nong provinces was 138,500 VND/kg.

Pepper price today August 14, 2024: Turning up, the price increase cycle is expected to continue

Specifically, Dak Lak pepper price was purchased at 138,500 VND/kg, a slight increase of 500 VND compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 138,000 VND/kg, an increase of 1,000 VND compared to yesterday. Dak Nong pepper price today was recorded at 138,500 VND/kg, an increase of 1,000 VND/kg compared to yesterday.

In the Southeast region, pepper prices today increased by 500 - 1,000 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 138,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday; in Binh Phuoc, pepper prices today are at 137,500 VND/kg, an increase of 500 VND/kg compared to yesterday.

Thus, pepper price today, August 14, increased slightly from 500 - 1,000 VND/kg in some localities in key growing areas, recording the highest price of 138,500 VND, fluctuating in the price range of 137,500 - 1,438,500 VND/kg.

In the second quarter of 2024, the price of black pepper in the domestic market continued to increase and recorded a new record. Accordingly, the domestic pepper price increased by about 93% compared to the beginning of the year and 2.3 times higher than the same period last year. The upward trend continued in July due to increased demand while supply was limited.

According to the Vietnam Pepper and Spices Association, the increase in pepper prices in the domestic market is not as expected due to low demand from the Chinese market. Currently, pepper prices in the Chinese market are lower than those in Vietnam, which may be the main reason for restricting pepper imports from Vietnam.

The latest report from Phuc Thinh Import-Export Investment Joint Stock Company (Ptexim) said that last week, pepper prices experienced strong fluctuations. After falling, pepper prices quickly recovered with large trading volumes recorded in the market at the end of the week.

The unit said that demand in different markets has improved, especially in the US and the European Union. China has also begun to resume purchasing activities.

Regarding the sharp decline in domestic pepper prices at the beginning of this week, experts said the market continued to fluctuate strongly like last week. After a period of maintaining the threshold of 145,000 - 150,000 VND/kg, many parties believe that the price will not increase as strongly as before. Therefore, last weekend recorded a large trading volume in the market, many farmers also took advantage of this period to sell to close capital, causing the market to fall at the beginning of the week.

Domestic pepper supply is under pressure to decrease, plus pepper output in other countries such as Brazil and Indonesia is forecast to decrease this year. And this will continue to put pressure on pepper prices in the last months of the year.

Domestic pepper price on August 14, 2024

World pepper price today

Update on 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 7,334 USD/ton, up 0.49%, and the price of Muntok white pepper at 8,635 USD/ton, up 0.50%.

The price of Brazilian ASTA 570 black pepper remained stable at USD 6,175/ton, up 1.21%. The price of Malaysian ASTA black pepper remained stable at USD 8,500/ton; the price of this country's ASTA white pepper reached USD 10,400/ton.

Vietnam's black pepper price remains at a high level of 5,8000 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 commented that unlike every year, this year's pepper market has too many unusual fluctuations. However, in general, pepper has begun to enter a price increase cycle. This cycle is not 5-7 years but maybe 10 years. This is due to the market mechanism and supply and demand. However, accurate assessments of pepper prices in the coming period are very difficult to predict.

The large fluctuations in pepper prices lead to many risks. From now until the time before the new crop (around January of the solar calendar), there will be a shortage of goods, but how much the shortage is, and whether businesses can endure until the new crop or not, no one can judge. Because pepper has a characteristic that it can be stored year after year.

According to Mr. Hoang Phuoc Binh, pepper prices have increased again this year, but people are not under pressure to sell early like in previous years because coffee and durian prices have increased, and many households have stable incomes. Pepper prices last week, although fluctuating abnormally, are still on the path of recovery and increase, which is an optimistic signal that brings much hope to growers. Pepper prices are forecasted to continue to fluctuate abnormally in the coming time.

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.

Mr. Hoang Phuoc Binh commented that there is currently a lot of conflicting information about the upcoming pepper season. Some say it will decrease, others say it will increase, so the information is quite confusing. Some gardeners shared that their pepper gardens did not produce fruit this new pepper season. However, some gardeners said they expected to have a bumper crop. All of this is due to the influence of weather factors.

Vietnam is located in a region with quite diverse weather sub-regions. Especially in the context that Vietnam is facing the upcoming La Nina phenomenon, heavy rain makes it difficult for pepper to set fruit. 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.

*Information for reference only. Prices may vary depending on time and location.

Source: https://congthuong.vn/gia-tieu-hom-nay-1482024-quay-dau-di-len-du-bao-chu-ky-tang-gia-se-tiep-tuc-keo-dai-338817.html