The market suddenly showed an upward trend again.

Pepper price today, October 20, 2024, in key regions increased compared to yesterday and traded around 143,000 - 144,500 VND/kg. On average, in some key regions, it increased by 500 - 1,000 VND/kg.

Accordingly, Dak Lak pepper price was purchased at 144,500 VND/kg, an increase of 1,000 VND compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 143,000 VND/kg, unchanged, Dak Nong pepper price today was recorded at 144,500 VND/kg, an increase of 1,000 VND/kg compared to yesterday.

In the Southeast region, pepper prices today (October 20, 2024) did not record much price adjustment compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 143,500 VND/kg, an increase of 500 VND/kg. In Binh Phuoc, pepper prices today are at 143,000 VND/kg.

Giá tiêu hôm nay 20/10/2024: Thị trường bất ngờ xuất hiện chiều hướng tăng trở lại

Pepper price today October 20, 2024: Market unexpectedly shows upward trend again

World pepper price today:

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,794 USD/ton; the price of Muntok white pepper at 9,302 USD/ton.

The price of Brazilian ASTA 570 black pepper was at USD 6,400/ton. The price of Malaysian ASTA black pepper remained stable at USD 8,700/ton; the price of this country's ASTA white pepper reached USD 11,200/ton.

Today, Vietnam's black pepper price is trading at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price at 9,500 USD/ton.

The pepper market is currently facing many difficulties, with the amount of pepper stored in warehouses of businesses and traders being less than in previous years. Businesses are stockpiling to prevent a late harvest next year, while people hope that pepper prices will continue to increase.

However, competition from new sources of pepper from Indonesia, especially China's increased purchase of pepper from Indonesia, is holding back the recovery of the domestic market. The main consumer markets are Europe and the United States, but demand there has not shown signs of recovery, causing difficulties for Vietnam's pepper export prices.

According to the Import-Export Department (Ministry of Industry and Trade), in the long term, pepper export prices will be supported by the expected decrease in Vietnam's pepper output in the 2025 crop. The 2025 harvest is expected to last until March and April, 1-2 months later than previous years, due to the impact of prolonged drought, making pepper supply increasingly scarce.

However, the pepper market this week has seen mixed reactions. Domestic and international Indian pepper prices have continued to decline over the past three weeks, while Indonesian pepper prices have rebounded due to the strengthening of the Rupiah against the USD.

Pepper consumption in major export markets such as China, the US and Europe will determine the next fluctuations in Vietnamese pepper prices. Experts warn that if prices fall below VND140,000/kg, a sell-off may occur, pushing prices lower. However, the current pepper reserves in warehouses are still limited, helping to reduce the risk of a sharp price drop.

In the context of the market gradually recovering, farmers need to closely monitor price developments and consider reasonable business measures such as preserving products when prices are low and waiting for price increases to sell, avoiding unnecessary dumping.