| Pepper price forecast September 1, 2024: Will the upward trend continue, will pepper prices recover like in early August? Pepper price forecast September 2, 2024: Will buying power return, will pepper prices stay high? |
Pepper prices are forecast to continue to increase on September 3, 2024. According to the latest data from the Ministry of Agriculture and Rural Development, pepper export prices in the first 8 months of 2024 reached 4,810 USD/ton, up 47% over the same period.
The high export price of pepper has contributed to a corresponding increase in domestic pepper prices. Since the beginning of 2024, our country's pepper prices have continuously remained high. In the first days of June, domestic pepper prices approached 190,000 VND/kg, the highest level in the past 11 years. At present, pepper prices have cooled down but are still high compared to history. As of August 15, domestic pepper prices were recorded at around 140,000 VND/kg, 1.75 times higher than the price at the beginning of 2024 and 2 times higher than the price in the same period last year.
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| Pepper price forecast September 3, 2024: Continuing to increase strongly, will it exceed the threshold of 150,000 VND/kg? |
In the domestic market, pepper prices today, September 2, 2024, in the Southeast region increased sharply by 4,500 - 5,000 VND compared to yesterday, trading around 149,000 - 150,000 VND/kg, the highest purchase price in Dak Lak, Binh Phuoc, Dak Nong provinces is 150,000 VND/kg.
Accordingly, the price of Dak Lak pepper was purchased at 150,000 VND/kg, an increase of 4,000 VND/kg compared to yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 149,000 VND/kg, an increase of 5,000 VND/kg compared to yesterday. The price of Dak Nong pepper today was recorded at 150,000 VND/kg, an increase of 4,500 VND/kg compared to yesterday.
In Binh Phuoc, pepper price today reached 150,000 VND/kg, an increase of 4,500 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it reached 149,000 VND/kg, an increase of 3,500 VND/kg compared to yesterday.
Update on world pepper prices today from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 7,529 USD/ton, and the price of Muntok white pepper at 8,865 USD/ton.
Brazilian ASTA 570 black pepper prices remained stable at USD 6,450/ton. Malaysian ASTA black pepper prices remained stable at USD 8,500/ton; the country’s ASTA white pepper prices reached USD 10,400/ton.
Vietnam black pepper price is traded at 6,100 USD/ton for 500 g/l; 550 g/l at 6,500 USD/ton; white pepper price at 8,800 USD/ton.
According to a recent report from the Import-Export Department (Ministry of Industry and Trade), world pepper prices are forecast to remain high in the coming time.
Brazil is currently the world’s second largest producer and exporter of black pepper after Vietnam, accounting for 17-18% of the total global supply. Therefore, the country’s continuous crop failure will have an impact on the market, expected to push global pepper prices up in the last months of 2024 when pepper supplies from other major producing countries such as Vietnam, Malaysia, Indonesia, etc. also decrease.
*Information for reference only. Prices may vary depending on time and location.
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