| Pepper price forecast on May 29, 2024: Will Ba Ria - Vung Tau region set a new record? Pepper price forecast on May 30, 2024: Will it reach 200,000 VND/kg like in 2015? |
Pepper prices on May 31, 2024 are forecasted to continue to increase sharply, as many customers around the world are shifting their focus to the current available supply, which is Vietnam, from June to August 2024. Meanwhile, pepper supply in Vietnam is not much left.
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| Pepper prices have increased sharply in the past two days. |
Continuing the upward trend on May 29, on May 30, domestic pepper prices continued to increase to 127,000 - 129,000 VND/kg. The highest purchase price was recorded in Dak Lak. Specifically, Dak Lak pepper price was purchased at 129,000 VND/kg, an increase of 3,000 VND/kg compared to yesterday; Chu Se pepper price (Gia Lai) was 127,000 VND/kg, an increase of 4,000 VND/kg compared to yesterday; Dak Nong pepper price was recorded at 128,000 VND/kg.
In the Southeast region, pepper prices also continued to increase sharply. Accordingly, the Ba Ria - Vung Tau region increased by 7,000 VND/kg to a peak of 128,000 VND/kg; Dong Nai increased by 6,000 VND/kg to 128,000 VND/kg; Binh Phuoc region was at 128,000 VND/kg, an increase of 4,000 VND/kg compared to yesterday.
Pepper prices in Vietnam have increased sharply due to the end of the harvest season, with this year's pepper output estimated to decrease by 10% to about 170,000 tons, reaching its lowest level in the past five years.
In addition, some businesses and industry experts also commented that many customers in the world will focus on Vietnam's supply in the period of June - August 2024. This is a big challenge when the pepper supply in Vietnam is not too much. This will cause pepper prices to continue to increase.
Local | Unit | Trader purchase price | Increase/decrease compared to yesterday |
Chu Se (Gia Lai) | VND/kg | 127,000 | +4000 |
Dak Lak | VND/kg | 129,000 | +3000 |
Dak Nong | VND/kg | 128,000 | +3000 |
Binh Phuoc | VND/kg | 128,000 | +4000 |
Ba Ria - Vung Tau | VND/kg | 128,000 | +7000 |
Domestic pepper price list on May 30, 2024
* Information for reference only. Prices may vary by location.
In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 5,090 USD/ton, down 0.41%; the price of Brazilian black pepper ASTA 570 at 5,900 USD/ton; the price of Kuching black pepper (Malaysia) ASTA remained at 4,900 USD/ton.
Muntok white pepper price is 7,382 USD/ton, down 0.41%; Malaysian ASTA white pepper price remains at 7,300 USD/ton. Vietnamese black pepper price increased sharply, trading at 5,400 USD/ton for 500 g/l; 550 g/l at 5,900 USD/ton; white pepper price at 8,000 USD/ton.
Some preliminary reports show that the production outlook for this year in major pepper producing countries is less positive. In Indonesia, the harvest is expected to start later than usual, falling in August - September this year, with a significant amount of crop loss. Similarly, in Brazil, the pepper harvest is also delayed, expected to coincide with the Indonesian harvest, and the estimated output is down 10 - 20% compared to last year.
Meanwhile, since the end of April 2024, Cambodia has also officially exported 30 tons of black pepper to the Chinese market.
| Pepper prices are entering a new cycle of price increases. In addition to weather factors, the driving force for price increases also comes from the fact that recently many farmers in Vietnam as well as in other major pepper producing countries have switched to other crops with higher economic efficiency, causing a shortage of supply. |
Source: https://congthuong.vn/du-bao-gia-tieu-ngay-3152024-tang-manh-o-khu-vuc-dak-nong-hay-dak-lak-323286.html
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