Domestic pepper prices: Submerged in red
As of 11:30 today (December 2), domestic pepper prices continued to decrease, trading in the range of 148,000 - 150,000 VND/kg, an average decrease of 500 VND/kg compared to the previous trading session.
Some areas recorded a decrease of 500-1,000 VND/kg. The price list on the market in specific key areas is as follows:
Gia Lai depreciated 500 VND/kg, listed at 148,000 VND/kg.
Dong Nai and Ho Chi Minh City both decreased by VND 1,000/kg, setting the mark of VND 148,000/kg.
Meanwhile, Dak Lak and Lam Dong remain unchanged, launching on the market at around VND150,000/kg.
World pepper prices: Reversal to decrease sharply
In the world market, pepper prices have decreased in some regions after a series of hot increases. The Indonesian exchange - one of the most vibrant markets is no exception. Currently, these two items are traded between 6,989 - 9,636 USD/ton (equivalent to 184,601 VND/kg - 254,516 VND/kg).
On the other hand, the Brazilian market has maintained a stable day, currently holding at 6,175 USD/ton (about 163,01 VND/kg). Meanwhile, black and white pepper are traded at 12,000 USD/ton and 9,000 USD/ton.
Notably, in the Vietnamese pepper export market, the price of 500 g/l and 550 g/l black pepper is anchored at the high level of 6,500 - 6,700 USD/ton. ASTA white pepper prices are currently at 9,250 USD/ton (equivalent to 244,321 VND/kg).
Assessment and forecast
According to analysts, the decline earlier this week is due to the necessary technical adjustment after the hot increase. The price around 148,000 - 150,000 VND/kg will be a strong support zone in the short term.
If selling pressure continues to be strong in today's trading session, it is likely that pepper prices will continue to be under pressure and move sideways before establishing a new direction. Experts say that people are advised not to panic and sell off according to crowd psychology, because the long-term supply and demand platform is still supporting the upward trend at the end of the year.
