According to forecasts, pepper prices on October 27 are likely to continue to decline in key regions. According to experts, domestic pepper prices are likely to continue to decline in the following days. This is mainly due to pressure from abundant supply and consumption demand that has not shown a clear improvement.
The International Pepper Community said that the pepper market this week showed a rather negative outlook as no market was reported to increase. Domestic and international Indian pepper prices continued to be reported with a downward trend for a month. Both domestic and international Indonesian pepper prices were stable this week. High USD restrained the increase in pepper prices in other countries.
In the international market, pepper prices are expected to fluctuate slightly, but there will be no major fluctuations in the short term. Stability in major markets such as Brazil, Malaysia, and Vietnam will help keep export pepper prices from fluctuating sharply in the coming time.
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| Pepper price forecast October 27: Continued sharp decline in domestic market |
In the domestic market, pepper prices today, October 26, 2024, in the Southeast region decreased by 200 - 1,200 VND/kg compared to yesterday, trading around 144,500 - 146,500 VND/kg, the highest purchase price in Dak Nong province is 146,500 VND/kg.
Accordingly, Dak Lak pepper price was purchased at 146,500 VND/kg, down 200 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 144,500 VND/kg, down 1,200 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at the highest level of 146,500 VND/kg, down 500 VND/kg compared to yesterday.
In the Southeast region, pepper prices today also fluctuated compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 145,000 VND/kg, down 500 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is currently at 146,000 VND/kg, stable compared to 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, down 0.22% compared to yesterday, and the price of Muntok white pepper at 9,205 USD/ton, up 0.23% 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.
In the third quarter, the price of black pepper in the domestic market in Vietnam decreased by a total of 3-6% (VND5,000-9,500/kg) compared to the end of the second quarter. The price of this item then continued to decrease by another 1-3% (VND1,000-4,000/kg) from the beginning of October until now.
In the export market, according to updates from IPC, pepper export prices from Vietnam as well as many other countries have also decreased in recent weeks.
The market is under downward pressure as agricultural companies, dealers and intermediaries are actively selling black pepper. This activity is mainly driven by liquidity needs, as sellers seek to raise capital to invest in coffee, which is in its harvest season.
* Information for reference only. Prices may vary depending on time and location.
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