Domestic pepper prices: Deep drop
As of 11:30 am today (March 12), domestic pepper prices have decreased compared to the closing session yesterday, averaging 143,000 VND/kg. Currently, key areas are trading in the range of 142,000 - 144,000 VND/kg.
Domestic pepper prices continue to decline deeply, specifically as follows:
Gia Lai and Dong Nai provinces both decreased by 2,000 VND/kg, listed at the mark of 142,000 VND/kg.
Dak Lak and Lam Dong slipped 2,500 VND/kg compared to the previous closing session, both offering a price of 144,000 VND/kg to the market.
Ho Chi Minh City decreased by 2,000 VND/kg, holding at the threshold of 143,000 VND/kg.
World pepper prices: Increase and decrease intertwined
In the world market, pepper prices increased and decreased in opposite directions. The Indonesian exchange - one of the most active markets - continued to increase. Black and white peppers traded in the range of 7,042 - 9,323 USD/ton (equivalent to 185,283 VND/kg - 245,298 VND/kg), respectively slightly increasing by 5 USD/ton and 6 USD/ton.
The Brazilian market maintained an increase of 50 USD/ton, listed at 6,100 USD/ton (about 160,498 VND/kg). Notably, black and white peppers maintained an increase of 100 USD/ton, trading at 12,100 USD/ton and 9,100 USD/ton.
In Vietnam's pepper export market, black pepper prices of 500 g/l and 550 g/l slightly decreased, anchored at 6,400 - 6,500 USD/ton. Meanwhile, ASTA white pepper price unexpectedly reversed to decrease by 100 USD/ton, offering for sale at 9,050 USD/ton (equivalent to 238,115 VND/kg).
Assessments and forecasts
Pressure from the new crop supply being added to the market combined with the adjustment of export pepper prices has pushed pepper prices in some localities down sharply.
This sharp downward adjustment takes place when growing areas are entering the main harvest season, and new goods are starting to pour into purchasing agents in the regions more. Although prices have decreased, farmers' psychology is still quite stable due to confidence in a long-term price increase cycle as global pepper area tends to shrink.
