According to forecasts, pepper prices on November 4 may continue to decline due to limited supply and unrecovered demand. Pressure from investors shifting to coffee will also affect pepper prices in the short term.
In the domestic market, pepper prices today, November 3, 2024, in the Southeast region maintained a flat price trend in most key regions, except for Dak Nong , which slightly decreased by 200 VND/kg, trading around 140,000 - 141,000 VND/kg; the highest purchase price was in Dak Nong , Ba Ria - Vung Tau, and Dak Lak provinces.
Accordingly, Dak Lak pepper price was purchased at 141,000 VND/kg, stable compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 140,000 VND/kg, stable compared to yesterday. Dak Nong pepper price today was recorded at 141,000 VND/kg, down 200 VND/kg compared to yesterday.
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| Pepper price forecast for November 4, 2024: Continue to decrease due to limited supply |
In the Southeast region, pepper prices today have not fluctuated compared to yesterday. Specifically, in Binh Phuoc, pepper prices today are at 140,000 VND/kg, stable compared to yesterday. In Ba Ria - Vung Tau, it is currently at 141,000 VND/kg, stable compared to yesterday.
Update on world pepper prices Update on world pepper prices 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 6,683 USD/ton, unchanged from yesterday, and the price of Muntok white pepper at 9,150 USD/ton, stable from 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 particular, the price of Vietnamese black pepper is stable at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; and white pepper price at 9,500 USD/ton.
According to experts, Vietnam is about to enter the harvest season with an estimated output of around 170,000 tons, accounting for about 35-40% of the global supply. Therefore, the world pepper price may still fluctuate.
However, the overall pepper supply is still lower than demand, experts say the price of this item is likely to remain good. Cash flow is shifting to coffee, but information about the delayed harvest has the market worried about medium-term supply.
Pepper prices are still better than in previous years, many farmers have made high profits. Short-term price increases and decreases may occur because this commodity is affected by many factors.
In the short term, the pepper market is expected to continue to face many fluctuations. Pepper prices may remain stable or decrease slightly due to limited supply and no signs of strong recovery in demand.
However, in the long term, when the world economic situation is more stable and climate change adaptation solutions are effectively implemented, the pepper market will likely recover and develop again.
*Information for reference only. Prices may vary depending on time and location.
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