According to forecasts, pepper prices on October 30 are likely to continue to increase due to the influence of the international market. In the short term, domestic pepper prices are expected to remain stable at around 142,000 - 143,000 VND/kg. Experts recommend that farmers and businesses pay attention to influencing factors such as the USD exchange rate and Vietnam's pepper exports still tending to decrease slightly.
In the domestic market, pepper price today, October 29, 2024, in the Southeast region decreased by 500 VND/kg compared to yesterday, trading around 142,000 - 143,000 VND/kg, the highest purchase price in Dak Nong, Dak Lak, Ba Ria - Vung Tau provinces is 143,000 VND/kg.
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Accordingly, Dak Lak pepper price was purchased at 143,000 VND/kg, down 500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 142,000 VND/kg, stable compared to yesterday. Dak Nong pepper price today was recorded at 143,000 VND/kg, down 500 VND/kg compared to yesterday.
In Binh Phuoc, pepper price today is at 142,000 VND/kg, unchanged from yesterday. In Ba Ria - Vung Tau, it is currently at 143,000 VND/kg, unchanged from yesterday.
In the world market, at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,724 USD/ton, stable compared to yesterday, and the price of Muntok white pepper at 9,205 USD/ton, stable compared to yesterday.
The price of Brazilian ASTA 570 black pepper is at 6,400 USD/ton. The price of Malaysian ASTA black pepper is at 8,500 USD/ton; the price of this country's ASTA white pepper is at 11,000 USD/ton.
In which, the price of Vietnamese black pepper is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; the price of white pepper is at 9,500 USD/ton.
According to the Center for Industry and Trade Information - Ministry of Industry and Trade, the unstable global economic situation is negatively affecting the demand for pepper consumption in many countries. Rising inflation and the risk of economic recession in many countries are causing consumers to tighten their spending, reducing the demand for non-essential items such as pepper.
In the short term, the pepper market is expected to continue to face many fluctuations. Pepper prices are likely to remain stable due to limited supply and no signs of strong recovery in demand.
However, in the long term, when the world economic situation is more stable and climate change adaptation solutions are effectively implemented, the pepper market will likely recover and develop again.
* Information for reference only. Prices may vary depending on time and location.
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