Domestic pepper price: Reversal, deep decrease
As of 11:30 a.m. today (February 12), domestic pepper prices have dropped sharply compared to the previous trading session, averaging a decrease of VND900/kg per session, with the current purchase price fluctuating between VND161,000 - VND162,000/kg. The average pepper purchase price nationwide today is VND161,500/kg.
Ba Ria - Vung Tau is currently the province with the lowest coffee purchase price in the country, unchanged from yesterday's transaction (February 11). Pepper price in this area is currently on the market at 161,000 VND/kg.
Meanwhile, Binh Phuoc pepper price decreased by 1,000 VND/kg, to 161,000 VND/kg.
Down slightly by 500 VND/kg, pepper price in Gia Lai today ranks 2nd in the country, listed at 161,500 VND/kg.
Dak Lak and Dak Nong are the two provinces with the highest pepper purchasing prices in the country. Currently, garden owners in this area sell pepper to the market at 162,000 VND/kg, although they have decreased by 2,000 VND/kg and 1,000 VND/kg, respectively.
World pepper prices: Continue to fluctuate in opposite directions
In line with domestic pepper prices, according to the International Pepper Community, on trading floors, world pepper prices did not record major fluctuations.
Accordingly, the prices of black and white pepper in the Indonesian market moved in the same direction. The price of black pepper decreased slightly by 0.19%, standing at 7,251 USD/ton (equivalent to 186,910 VND/kg), the price of white pepper decreased by 0.18%, listed at 10,010 USD/ton (equivalent to 258,028 VND/kg).
For the Brazilian market, the price of ASTA 570 black pepper is trading at 6,700 USD/ton.
In the Malaysian market, ASTA black and white pepper prices remained unchanged, anchored at USD 9,000/ton and USD 11,600/ton, respectively.
In Vietnam, the export price of black pepper is stable, the 500 g/l type is traded at 6,500 USD/ton (equivalent to 166,400 VND/kg); the 550 g/l type is at 6,650 USD/ton (equivalent to 170,240 VND/kg). Similarly, the export price of white pepper is at 9,550 USD/ton (equivalent to 244,480 VND/kg).
In the Indian market, pepper prices are covered in green, increasing by 100 rupees/quintal after a day of stagnation in most pepper varieties. Garbled pepper is priced at 67,600 rupees/quintal (equivalent to 206,843 VND/kg), Ungarbled pepper is listed at 65,600 rupees/quintal, while gram/liter pepper has the lowest price of 64,600 rupees/quintal (equivalent to 197,664 VND/kg).
Comments and forecasts
According to the International Pepper Community, the market in the first week of February had mixed developments, with domestic white pepper prices in Malaysia decreasing, while other markets recorded an upward trend.
In India, despite a 1% depreciation of the Rupee against the USD (87.25 INR/USD), domestic and export pepper prices have increased for three consecutive weeks. Sri Lanka has continued to see pepper prices increase since the beginning of the year, as the country celebrates its 77th Independence Day.
From 2019 to 2024, China imported an average of 40,736 tons of pepper per year from Vietnam. In 2024, this number will drop sharply to 10,549 tons, a decrease of 82.4% compared to 2023. Pepper inventories in China are low, if the country imports again, pepper prices will increase sharply.
According to Ptexim's forecast, pepper prices may continue to rise, especially if China returns to buying in large quantities. If China's import rate remains slow, pepper prices will increase but at a slower rate.
