Domestic pepper prices: Continue to increase
As of 11:30 today (December 12), domestic pepper prices have maintained their upward momentum, averaging VND 149,600/kg. Currently, key areas are trading in the range of 149,000 - 150,500 VND/kg.
Provinces and cities recorded an increase of 500 - 1,000 VND/kg, the price list on the market in specific areas is as follows:
Gia Lai increased the highest by VND 1,000/kg, listed at VND 149,000/kg.
Ho Chi Minh City and Dong Nai both increased by VND 500/kg, bringing to the market a price of VND 149,000/kg.
Similarly, Dak Lak and Lam Dong continue to increase prices, anchoring at 150,500 VND/kg.
World pepper prices: intertwined increases and decreases
In the world market, pepper prices continue to fluctuate in some regions. The Indonesian exchange - one of the most vibrant markets recovered. Currently, these two items are traded between 6,989 - 9,636 USD/ton (equivalent to 184,587 VND/kg - 254,497 VND/kg), up 0.11% and 0.12%, respectively.
Meanwhile, the Brazilian market remained unchanged at 6,075 USD/ton (about 160,447 VND/kg). In the same direction, black and white pepper 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 remains in the price range of 6,500 - 6,700 USD/ton. ASTA white pepper prices are currently at 9,250 USD/ton (equivalent to 244,302 VND/kg).
Assessment and forecast
The main driving force has helped domestic pepper prices break the peak for 3 consecutive days due to local supply shortages. After the price returned to the 150,000 VND/kg mark, garden owners have more grounds to believe that prices will increase even higher before Tet, leading to a tight stall.
Meanwhile, exporting enterprises are under great pressure about the year-end delivery time, so they are forced to increase purchase prices to gather enough quantity.
