Domestic pepper prices: Reversed to decrease
As of 11:30 today (December 13), domestic pepper prices suddenly dropped, averaging VND 149,200/kg. Currently, key areas are trading in the range of 148,500 - 150,000 VND/kg.
Provinces and cities recorded a decrease of 500 VND/kg, the price list on the market in specific areas is as follows:
Gia Lai and Dong Nai both decreased by VND 500/kg, listed at VND 148,500/kg.
Similarly, Dak Lak and Lam Dong reversed and decreased in price, anchored at 150,000 VND/kg.
Ho Chi Minh City alone stood still, offering the market at 149,000 VND/kg.
World pepper prices: Indonesia continues to increase prices
In the world market, pepper prices continue to fluctuate in some regions. The Indonesian exchange - one of the most vibrant markets continues to increase. Currently, these two items are traded between 6,996 - 9,645 USD/ton (equivalent to 184,730 VND/kg - 254,677 VND/kg), up 0.1% and 0.09%, respectively.
Meanwhile, the Brazilian market remained unchanged at 6,075 USD/ton (about 160,411 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 244,247 VND/kg).
Assessment and forecast
According to the International Pepper Association (IPC), Vietnam's export pepper prices are still holding in a good price range, resonate with the slight recovery of Indonesian pepper prices, creating optimism for the domestic market.
Regarding the forecast that domestic pepper prices could break out strongly to VND155,000 in the short term, it is not feasible if there is no big boost from the Chinese market, but the trend of holding prices sideways or increasing slightly is still the main trend.
