Pepper Price from Vietnam in November: Pepper Prices Fluctuates
[Update November 19th] In November, pepper price from Vietnam was almost flat last week, adjusting up and down according to USD movements. In particular, the positive point is that pepper prices are on the rise.
Pepper Price from Vietnam in November
On November 19th, pepper prices in some key growing areas were stable compared to yesterday. Thereby, maintaining the domestic pepper price level at $5,47/kg to $5,51/kg.
- Pepper price in Dak Lak remained the same compared to yesterday at $5,49/kg.
- In Gia Lai, pepper prices also remained the same compared to yesterday, currently at $5,47/kg.
- In Dak Nong remained the same compared to yesterday, reaching $5,51/kg.
- Pepper price in Ba Ria – Vung Tau is currently at $5,47/kg, unchanged from yesterday.
- Dong Nai also remained unchanged from yesterday at $5,47/kg.
- In addition, today’s pepper price in Binh Phuoc is stable when comparing to yesterday at $5,47/kg.
In summary, pepper price from Vietnam were almost flat last week. It adjusted up and down according to the USD exchange rate. In particular, the positive point is that pepper prices are on the rise.
Prediction for the Pepper prices
Commenting on the market this week, experts predict that there have been no new supporting factors. The USD increased by 1.6% last week. This increase pushed the index above the level of 106 and reached a high of 107.06 before closing the week at 106.68. Weak demand from the market continued to restrain pepper prices. However, low supply will help prices fluctuate around $5,51/kg and tend to increase slightly this week.
In addition, importers continue to be cautious. They are waiting for clearer information on the production situation in both Vietnam and Brazil in the next crop year. This shows that weak demand continues to restrain pepper prices.
After Indonesia’s most recent harvest, until February 2025, the world’s pepper supply has yet to be significantly supplemented, supporting Vietnam’s new harvest. Not to mention that next year’s harvest may be delayed due to weather problems.
The Center for Industry and Trade Information – Ministry of Industry and Trade (VITIC) commented that the decrease in output could push pepper prices to exceed $6,30/kg.
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