| Pepper price forecast September 10, 2024: Pepper price continues to increase and stay at a high level? Pepper price forecast September 11, 2024: Pepper price skyrockets towards a new peak |
Pepper price forecast for September 12, 2024 continues to increase. Vietnam recorded an increase in pepper prices both domestically and for export in the first week of September.
The Vietnam Pepper and Spices Association (VPSA) reported that the average export price of black pepper in the first eight months of the year was 4,712 USD/ton and white pepper was 6,326 USD/ton, up over the same period last year.
By the end of August, Vietnam had exported 183,756 tons of pepper, surpassing the year's harvest.
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| Pepper price forecast September 12, 2024: Unfavorable weather conditions reduce purchasing power |
In the domestic market, pepper prices today, September 11, 2024, in the Southeast region, key areas increased from 1,000 - 2,500 VND/kg, trading around 152,000 - 155,500 VND/kg, the highest purchase price in Dak Lak province was 155,500 VND/kg.
Accordingly, Dak Lak pepper price is purchased at 155,500 VND/kg, an increase of 2,500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) is purchased at 153,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. Dak Nong pepper price today is at 155,000 VND/kg, an increase of 2,000 VND/kg compared to yesterday.
In the Southeast region, pepper prices today increased by VND 2,000/kg compared to yesterday. Specifically, in Binh Phuoc, pepper prices today remained at VND 152,000/kg. In Ba Ria - Vung Tau, it increased to VND 155,000/kg, an increase of VND 2,000/kg compared to yesterday.
At world pepper prices, updated 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 7,542 USD/ton, the price of Muntok white pepper at 9,096 USD/ton, down 0.01%.
The price of Brazilian ASTA 570 black pepper remained at $7,400/ton, down 1.35%. The price of Malaysian ASTA black pepper was at $8,800/ton; the price of this country's ASTA white pepper reached $10,900/ton.
Vietnam's black pepper price is stable at 6,600 USD/ton for 500 g/l; 550 g/l at 7,000 USD/ton; white pepper price at 9,300 USD/ton.
According to the Indian Pepper and Spices Trade Association (IPSTA), the quantity of pepper offered in Kochi ranges from 20 to 25 tonnes per day, mostly imported pepper.
Mr. Kishor Shamji – Director of IPSTA, said that pepper imports from Sri Lanka are at a high level and in July alone, imports from this country reached 4,400 tons out of a total of 5,085 tons imported.
“The market is witnessing a wave of selling as importers try to liquidate their excess purchases. This has created panic in the market, fearing that prices will fall further,” said Kishor Shamji.
Besides, most of the Indian markets are flooded with imported pepper with quality issues such as high moisture, low bulk density and mold. This has forced distributors to liquidate their stocks at discounted prices, leading to further price decline.
*Information for reference only. Prices may vary depending on time and location.
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