Back to the bull run?

Forecast of domestic pepper prices tomorrow

According to forecasts, tomorrow's pepper price, December 7, 2024, domestic pepper prices will continue to increase sharply compared to today, December 6, 2024. Tomorrow's pepper price is forecast to increase by an average of more than 1,000 VND/kg, averaging at about 144,500 VND/kg; many localities will increase sharply by 2,000 VND/kg.

Pepper price today December 6, 2024, domestic pepper price suddenly turned around and increased compared to yesterday December 5, 2024; average at 143,400 VND/kg, many localities increased.

Pepper price forecast for tomorrow, December 7, 2024 will still increase. Photo: Le Son

Accordingly, domestic pepper prices today, December 6, 2024, in particular Ba Ria - Vung Tau province increased by VND 2,000/kg; the remaining localities such as Gia Lai, Dak Lak, Binh Phuoc and Dak Nong all increased by VND 3,000/kg compared to yesterday, December 5, 2024.

Specifically, the price of Gia Lai pepper, Ba Ria - Vung Tau pepper and Binh Phuoc pepper are all at 143,000 VND/kg; the price of Dak Lak pepper and Dak Nong pepper are both at 144,000 VND/kg. The average price of pepper today, December 6, 2024, is at 143,400 VND/kg, a sharp increase of 2,800 VND/kg.

According to Ms. Hoang Thi Lien, Chairwoman of the Vietnam Pepper and Spice Association (VPSA), Vietnam plans to export an additional 50,000 tons of pepper in the last two months of 2024, bringing in 300 million USD.

Towards 2025, the pepper industry will focus on supporting farmers and businesses to meet international standards on food quality and safety. This is part of a long-term strategy to increase product value and expand international markets, contributing to strengthening the position of Vietnamese pepper in the world .

The 2025 harvest is forecast to be delayed by about 1.5 to 2 months due to the impact of climate change, starting late in February 2025. This increases supply pressure in the context of high demand.

However, farmers are advised not to sell pepper early or borrow money to store pepper, to avoid risks from price fluctuations. Instead, they need to balance their finances to store goods and wait for higher prices at the end of 2025.

Pepper price update today December 6, 2024

Forecast of world pepper prices tomorrow

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, the market was basically stable compared to the previous update, except for the Indonesian and Malaysian markets which fluctuated slightly and insignificantly.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,684 USD/ton; up 0.4%; the price of Muntok white pepper at 9,123 USD/ton, up slightly 0.41%.

The price of Brazilian ASTA 570 black pepper was stable at 6,250 USD/ton; the price of Malaysian ASTA black pepper was at 8,200 USD/ton, down 1.22%; the price of this country's ASTA white pepper reached 10,400 USD/ton, down slightly by 0.96%.

The pepper market will continue to fluctuate, farmers are advised not to sell pepper early or borrow money to store pepper, to avoid risks from price fluctuations. Photo: Le Son

Of which, the price of Vietnamese black pepper is stable at 6,200 USD/ton for 500 g/l, 550 g/l remains at 6,500 USD/ton; the price of white pepper is at 9,300 USD/ton, unchanged.

According to forecast, the world pepper price tomorrow, December 7, 2024, will remain stable, if there is an increase/decrease, it will not be significant, there may be slight fluctuations in the Indonesian and Malaysian markets.

*The above pepper price forecast is for reference only, the actual price will be officially available early tomorrow morning (December 7, 2024) on Congthuong.vn.

Source: https://congthuong.vn/du-bao-gia-tieu-ngay-mai-7122024-quay-lai-da-tang-gia-362904.html