Domestic pepper prices
As of 11:30 am today (August 11), domestic pepper prices have turned down, listed at 137,000 VND/kg. Currently, key areas are trading in the range of 136,000 - 139,000 VND/kg.
Domestic pepper prices simultaneously decreased by 500 VND/kg, except for Gia Lai province. Currently, provinces and cities list the domestic pepper prices as follows:
Dong Nai and Ho Chi Minh City simultaneously listed at the 136,000 VND/kg mark, down 500 VND/kg.
Similarly, Dak Lak and Lam Dong respectively offered for sale at the highest purchase price in the whole region of 138,000 VND/kg and 139,000 VND/kg.
Immediately after simultaneously increasing by 500 VND/kg, domestic pepper prices today adjusted down, returning to the closing price range last week. The current average price is about 1,800 VND/kg higher than at this time in June.
World pepper price
In the world market, pepper prices remain high in most countries. Indonesia's black and white peppers are no exception, trading in the range of 6,822 - 9,340 USD/ton (equivalent to 180,170 VND/kg - 246,670 VND/kg).
Similarly, the price of Brazilian black pepper sold to the market is 5,900 USD/ton (about 155,819 VND/kg). However, black and white Malaysian pepper still maintain the same price range, trading at high prices, respectively 12,200 USD/ton and 9,300 USD/ton.
In Vietnam's pepper export market, the price of black pepper of 500 g/l and 550 g/l is maintained at 5,970 - 6,050 USD/ton. ASTA white pepper is offered for sale at 8,400 USD/ton (equivalent to 221,844 VND/kg).
Assessments and forecasts
Commenting on the market trend of pepper and spices, the Vietnam Pepper and Spice Plant Association (VPSA) informed that in the short term, pepper prices are forecast to continue to stabilize if the world geopolitical situation does not have many fluctuations.
If tensions in the Middle East are resolved, prices may rise again as inventories in import markets have fallen, while supply from major manufacturing countries is at its lowest level in many years.
However, the US market also poses new challenges when this country applies an import tax rate of 12.5% on Vietnamese goods. This policy may increase import costs, making import businesses more cautious in signing contracts and negotiating prices.
