Why the sudden surge domestically?

Forecast of domestic pepper prices tomorrow.

According to forecasts, the price of pepper in Vietnam is expected to unexpectedly increase sharply tomorrow, December 6, 2024, compared to today, December 5, 2024. The forecast predicts a price increase of nearly 3,000 VND/kg, averaging around 143,000 VND/kg; many localities will see a significant increase of 3,000 VND/kg.

Pepper prices are forecast to unexpectedly surge tomorrow, December 6, 2024. Photo: Hoang Thien

Today, December 5th, 2024, pepper prices continue to plummet compared to yesterday, December 4th, 2024; the average price is only 140,600 VND/kg, with significant drops in many localities.

Accordingly, today, December 5, 2024, pepper prices in Gia Lai province decreased by 500 VND/kg; Ba Ria - Vung Tau and Dak Lak both decreased by 1,000 VND/kg; Dak Nong decreased by 1,500 VND/kg, while Binh Phuoc saw the sharpest drop at 2,000 VND/kg.

Specifically, pepper prices in Gia Lai and Binh Phuoc are both at 140,000 VND/kg; pepper prices in Ba Ria - Vung Tau, Dak Lak, and Dak Nong are all at 141,000 VND/kg. The average pepper price today, December 5th, 2024, is 140,600 VND/kg, a sharp decrease of 1,200 VND/kg.

Since the beginning of the week, pepper prices have fallen sharply; however, with low inventory levels and high export demand, prices are expected to recover in the near future. Farmers and businesses need to proactively adapt to market fluctuations to ensure economic efficiency.

Many experts believe that pepper is entering an upward price cycle due to tightening supply. Currently, the majority of the supply is in the hands of a few dealers and import-export companies. This could lead to significant market fluctuations in the near future.

Pepper prices today, December 5, 2024

Forecast for tomorrow's world pepper prices

According to the International Pepper Association (IPC), the world pepper price update at the end of the most recent trading session showed that the market remained basically stable compared to the previous update, with only slight and insignificant fluctuations in the Indonesian market.

Specifically, IPC listed the price of Indonesian Lampung black pepper at US$6,660/ton, up 0.05%; and Muntok white pepper at US$9,090/ton, a slight increase of 0.04%.

Brazilian ASTA 570 black pepper prices remained stable at US$6,250/ton; Malaysian ASTA black pepper prices were at US$8,300/ton, down 1.2%; and Malaysian ASTA white pepper prices reached US$10,500/ton.

Specifically, the price of Vietnamese black pepper remained stable at US$6,200/ton for the 500 g/l grade, and US$6,500/ton for the 550 g/l grade; the price of white pepper remained unchanged at US$9,300/ton.

The forecast for world pepper prices tomorrow, December 6, 2024, is that they will remain basically stable, with minor fluctuations. Photo: Le Son

According to forecasts, world pepper prices tomorrow, December 6, 2024, will remain stable, with no significant increase or decrease, and possibly slight fluctuations in the Indonesian market.

The situation in other producing countries is also volatile, with Indonesia recording a favorable crop in some areas, helping to improve supply.

Meanwhile, Brazil is facing sales pressure due to a sharp increase in production from major growing regions such as Para and Espirito Santo. However, early-season drought conditions are still significantly impacting pepper quality and yield, making it difficult for producers to maintain consistent quality.

The pepper market is also strongly affected by the European Union's Anti-Deforestation Regulation (EUDR). This regulation not only creates market instability but also causes sudden fluctuations in pepper prices.

*The above pepper price forecast is for reference only; the actual official price will be available early tomorrow morning (December 6, 2024) on Congthuong.vn.