Pepper price today, November 16, 2024 in the domestic market decreased slightly in some key localities, trading from 137,500 - 138,000 VND/kg.
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| Pepper price today November 16, 2024: Domestic market under pressure, forecast for Vietnamese pepper export situation at the end of the year. (Source: EMediHealth) |
Pepper price today, November 16, 2024 in the domestic market decreased slightly in some key localities, trading from 137,500 - 138,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 138,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (137,500 VND/kg); Dak Lak (138,000 VND/kg); Dak Nong (138,500 VND/kg); Ba Ria - Vung Tau (137,500 VND/kg) and Binh Phuoc (138,000 VND/kg).
Thus, domestic pepper prices today decreased slightly in most key growing areas, by 500 - 1,000 VND/kg. The highest pepper price is at 138,000 VND/kg.
In its October report, Harris Spice said prices had softened after peak harvests in Indonesia and Brazil. At the same time, demand was weak, with demand from China remaining weak.
On the production front, in India, pepper fruit set in many areas was affected by a prolonged dry spell in June-July, despite a relatively good flowering period. The rains continued into September, leading to flower drop and increased disease incidence. More monsoon rains are expected in the coming weeks.
In Vietnam, after a severe drought earlier this year, many areas have had a good flowering season with the onset of rains. The weather has been generally favorable in most growing areas, and if conditions remain good, production is expected to increase. Scattered rains continue in production areas.
The Import-Export Department (Ministry of Industry and Trade) forecasts that Vietnam's pepper export activities will not be favorable in the last months of this year due to limited domestic supply, and demand from China is still low. It is expected that by early 2025, the export situation to this market will be more positive as demand is expected to increase sharply.
Meanwhile, after Indonesia’s most recent harvest, the world’s pepper supply has not been significantly replenished until February 2025. This is considered a favorable factor when Vietnam enters the new harvest in 2025. In addition to Vietnam, pepper output is also expected to decrease in many other countries.
Vietnam's new 2025 pepper crop is expected to be delayed by 1 month. This will create a certain shortage in supply, thereby positively affecting world pepper prices.
In the domestic market, pepper prices are still under pressure as demand slows down, while sellers seek to raise capital to invest in coffee, an agricultural product that is in harvest season. However, limited supply has helped pepper prices remain about 70% higher than at the beginning of the year and double the same period last year.
According to experts, domestic pepper prices in the coming time will be below 150,000 VND/kg in the context of the rising USD and fluctuations in the world market. In terms of export, Vietnam's pepper export prices will remain stable at the current high level due to limited supply.
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,476 USD/ton, down 0.59%; the price of Brazilian black pepper ASTA 570 at 6,000 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,400 USD/ton.
Muntok white pepper price is 9,063 USD/ton, down 0.58%; Malaysian ASTA white pepper price is at 10,500 USD/ton.
Vietnam black pepper price is traded at 6,200 USD/ton for 500 g/l; 550 g/l at 6,500 USD/ton; white pepper price at 9,400 USD/ton. IPC continues to adjust pepper price in Indonesia down.
Source: https://baoquocte.vn/gia-tieu-hom-nay-16112024-thi-truong-trong-nuoc-chiu-ap-luc-du-bao-tinh-hinh-xuat-khau-tieu-viet-cuoi-nam-293858.html
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