Domestic pepper price: Continues to decrease sharply
As of 11:30 a.m. today (February 13), domestic pepper prices continued to decline sharply compared to the previous trading session, averaging a decrease of VND 2,100/kg per session, currently the purchase price fluctuates between VND 159,000 - 160,000/kg. The average pepper purchase price nationwide today is VND 159,400/kg.
Ba Ria - Vung Tau, Binh Phuoc, Gia Lai are 3 provinces that simultaneously set the price at 159,000 VND/kg, down 2,000 VND/kg and 2,500 VND/kg respectively.
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 160,000 VND/kg, despite a decrease of 2,000 VND/kg.
World pepper price: Standing still
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 remained unchanged, down slightly by 0.19%, at 7,251 USD/ton (equivalent to 186,061 VND/kg), the price of white pepper remained unchanged, down 0.18%, listed at 10,010 USD/ton (equivalent to 258,857 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 continue to be covered in green, increasing by 200 rupees/quintal for most pepper varieties. Garbled pepper is priced at 67,800 rupees/quintal (equivalent to 206,268 VND/kg), Ungarbled pepper is listed at 65,800 rupees/quintal, while gram/liter pepper has the lowest price of 64,800 rupees/quintal (equivalent to 197,142 VND/kg).
Comments and forecasts
In Vietnam, pepper prices unexpectedly increased sharply after Tet but the market has started to decline sharply in the coming days. The reason for the decline in pepper prices is that the supply from the new harvest has just begun to replenish.
Demand for consumption has been increasing steadily, but delays in exports and local pepper harvests have put pressure on prices.
Although pepper prices decreased today, the market is still in an upward trend thanks to the purchasing pace of important markets such as the United States and China, the price range can increase sharply or only about 10-15%.
Enterprises need to closely monitor market developments and purchasing movements from partners to have appropriate purchasing, storage and cash flow plans, both to increase output and export turnover and to ensure business efficiency.
