 |
| Pepper price today December 23, 2024: Continuing to decline, the market is affected by the USD and cash flow into coffee. (Source: SAM Agritech) |
Pepper prices today, December 23, 2024, in the domestic market continued to decrease in some key localities, trading from 144,000 - 145,500 VND/kg.
Specifically, pepper price today in Gia Lai is at 144,500 VND/kg.
Pepper prices today in the provinces of Dong Nai (144,000 VND/kg); Dak Lak (145,000 VND/kg); Dak Nong (145,300 VND/kg); Ba Ria - Vung Tau (145,500 VND/kg) and Binh Phuoc (145,000 VND/kg).
Thus, pepper prices today continued to decrease in key growing areas, with a decrease of 5,000 - 1,000 VND/kg. The highest pepper price was at 145,500 VND/kg. In summary, pepper prices have been adjusted down for 3 consecutive sessions, with an average loss of 1,000 VND/kg.
Experts say that current pepper inventories in Vietnam are very low. In addition, the 2025 harvest is expected to be delayed by 1-2 months and produce lower yields due to prolonged drought conditions.
The combination of low inventories and reduced production is likely to create a supply shortage, which could support higher pepper prices in the global market. However, pepper prices are currently being affected by the US dollar and the flow of money into coffee.
According to statistics from the General Department of Customs, in the first 11 months of 2024, pepper exports reached 234,701 tons, with a turnover of 1.2 billion USD, down 4.5% in volume but up 46.2% in turnover over the same period. This is a very impressive export figure, especially in the context that most experts predict that the output and inventory of the 2024 crop will decrease significantly compared to the past 5 years.
The average export price of Vietnamese pepper in November reached 6,713 USD/ton, up 2.5% compared to the previous month and 74% compared to the same period last year. This is also the highest price recorded since February 2017.
In the first 11 months, the average export price of pepper reached 5,187 USD/ton, an increase of 53% over the same period in 2023.
Despite the positive price outlook, the pepper and spice industry is facing challenges from unpredictable weather conditions that increase investment costs and disease prevention, according to the Vietnam Pepper and Spice Association (VPSA). In addition, many farmers are switching to more profitable crops such as durian and coffee, reducing pepper growing areas and affecting total output.
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,739 USD/ton, up 0.04%; the price of Brazilian black pepper ASTA 570 at 6,275 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,200 USD/ton.
Muntok white pepper price is 8,911 USD/ton, up 0.04%; Malaysian ASTA white pepper price is at 10,600 USD/ton, up 200 USD/ton.
Vietnam black pepper price is trading at 6,400 USD/ton for 500 g/l; 550 g/l at 6,700 USD/ton; white pepper price at 9,600 USD/ton. IPC increased pepper price again when the USD weakened compared to yesterday.
The International Pepper Community commented that this week's pepper market continued to show mixed reactions.
Comment (0)