Domestic pepper prices: There are consecutive weekly increases
As of 11:30 today (December 14), domestic pepper prices are trading between 148,500 - 150,000 VND/kg, an average increase of 1,000 VND/kg compared to last week depending on the region.
At the end of last week, Ho Chi Minh City and Dong Nai recorded an increase of VND 2,000/kg, reaching VND 148,500/kg. Meanwhile, the owner of the growing area in Gia Lai increased by 1,000 VND/kg, anchored at 148,500 VND/kg.
Dak Lak and Lam Dong regions both increased by VND 1,000/kg, commonly at VND 150,000/kg.
World pepper prices: Developments in the same direction
According to the International Pepper Company (IPC), world pepper prices have mostly increased slightly.
In particular, the price of Indonesian black pepper increased slightly by 1 USD/ton compared to last week, reaching 6,996 USD/ton. In the same direction, the price of Indonesian white pepper increased by 2 USD/ton last week, reaching 9,645 USD/ton.
Similarly, Brazilian ASTA 570 black pepper is being offered for sale at 6,075 USD/ton, down 75 USD/ton. Meanwhile, the price of ASTA Malaysia black and white pepper remained unchanged, at 9,000 USD/ton and 12,000 USD/ton, respectively.
In Vietnam, black pepper prices for export remained unchanged before the closing price of the week, at 6,500-6,700 USD/ton for the 500 g/l and 550 g/l types.
Assessment and forecast
At the end of a volatile trading week, the pepper market continued to maintain the high price level established in yesterday's session.
The sideways progress in the weekend session is a positive signal, showing that the growing area owner is in a proactive position. Although prices are already high and bringing good profits, the wave of selling off has not occurred. Pepper growers today have a strong mentality, forcing traders to keep purchasing prices high even during the holiday to ensure they can collect goods when the market is bustling again early next week.
