The market is under selling pressure, prices drop dramatically, and transactions are gloomy.

Pepper price today, November 8, 2024 in the domestic market is stable in some key localities, trading from 135,000 - 135,500 VND/kg.

Pepper price today November 8, 2024: The market faces selling pressure, prices drop across the board, and trading is gloomy. (Source: Borneo Talk)

Pepper price today, November 8, 2024 in the domestic market is stable in some key localities, trading from 135,000 - 135,500 VND/kg.

Specifically, pepper price today in Gia Lai is at 135,500 VND/kg.

Pepper prices today in the provinces of Dong Nai (135,000 VND/kg); Dak Lak (136,000 VND/kg); Dak Nong (136,000 VND/kg); Ba Ria - Vung Tau (135,000 VND/kg) and Binh Phuoc (135,000 VND/kg).

Thus, after 4 consecutive days of flat growth, domestic pepper prices today suddenly plummeted in most key growing areas, with a sharp decrease of 4,500 - 5,000 VND/kg. The highest pepper price was at 135,500 VND/kg, officially breaking the 140,000 VND/kg mark.

The shocking price drop of up to 5,000 VND/kg surprised many market participants. There are not many actual transactions recorded at this time.

According to research, in recent weeks, farmers and agents need a large amount of capital to import coffee when the harvest has begun, so they have sold some pepper to rotate capital. This has caused pepper trading volume to increase in the last weeks of October, creating downward pressure on prices. Cash flow into coffee and weak demand are factors hindering the growth of pepper.

Recently, the market has been assessed to have pushed prices higher than the actual supply and demand. According to experts, pepper prices are being adjusted to their true value at the present time.

According to forecasts, the demand for pepper during the year-end holiday season will be a positive driving force for pepper prices in the market. With prices remaining high, Vietnam's pepper exports are expected to remain stable in the last months of 2024.

In the international market, Southeast Asian countries are also reducing pepper prices in the context of a stronger USD. The US presidential election with the victory of Mr. Donald Trump caused the USD exchange rate to skyrocket, causing pepper prices to fall even more sharply. Currently, the global pepper market is valued at 5.43 billion USD, forecast to grow by an average of more than 20% in the period 2024 - 2032.

According to preliminary statistics of the Vietnam Pepper and Spices Association (VPSA), in October 2024, Vietnam exported 18,493 tons of pepper of all kinds, of which black pepper reached 15,939 tons and white pepper reached 2,554 tons.

Total export turnover reached 120.2 million USD, black pepper reached 99.8 million USD, white pepper reached 20.4 million USD, compared to the previous month, export volume increased by 7.9% and compared to the same period last year, export decreased by 3.6%. The average export price of black pepper in the month reached 6,284 USD/ton, down 28 USD and white pepper reached 8,029 USD/ton, up 191 USD.

The US remained the largest export market in October, accounting for 27.7% of total exports, reaching 5,128 tons, down 8.5% compared to September. The following markets were Hong Kong (China): 1,784 tons, UAE: 1,382 tons, the Netherlands: 1,000 tons and Germany: 960 tons.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,634 USD/ton, down 0.47%; the price of Brazilian black pepper ASTA 570 at 6,300 USD/ton, down 1.59%; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 9,082 USD/ton, down 0.47%; Malaysian ASTA white pepper price is at 11,000 USD/ton.

Vietnamese black pepper price is traded 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. IPC continues to reduce Indonesian pepper price.

Pepper price today, November 8, 2024 in the domestic market is stable in some key localities, trading from 135,000 - 135,500 VND/kg.

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