Domestic pepper prices: Stable on most exchanges
As of 11am today (March 14), domestic pepper prices have stabilized after a strong increase, except for Gia Lai province, with an average increase of VND100/kg compared to the previous trading session. Currently, the purchase price ranges from 159,500 - 161,000 VND/kg. The average pepper purchase price nationwide is at 160,300 VND/kg.
Recorded the only increase among provinces and cities at 500 VND/kg, pepper purchasing price in Gia Lai province is at 159,500 VND/kg.
Ba Ria - Vung Tau and Binh Phuoc provinces listed pepper prices at 160,000 VND/kg.
In the same direction, Dak Lak and Dak Nong provinces today did not adjust pepper purchasing prices, simultaneously keeping the previous trading price unchanged at 161,000 VND/kg. This is still the highest mark since the beginning of the week.
World pepper prices: Developments in the same direction
According to the International Pepper Community, on trading floors, black and white pepper prices in the Indonesian market turned to increase after a series of red-fried days. Black pepper prices increased slightly by 0.15%, listed at 7,265 USD/ton (equivalent to 186,566 VND/kg). At the same increase, white pepper prices were announced at 10,252 USD/ton (equivalent to 263,272 VND/kg).
For the Brazilian market, the price of ASTA 570 black pepper is trading at 6,900 USD/ton.
Meanwhile, in the Malaysian market, ASTA black and white pepper prices have remained unchanged for many days, anchored at 9,800 USD/ton and 12,300 USD/ton.
Notably, in Vietnam, exported black pepper prices continued to remain unchanged. The 500 g/l type is traded at 7,000 USD/ton (equivalent to 179,760 VND/kg); the 550 g/l type is currently at 7,200 USD/ton (equivalent to 184,896 VND/kg). Similarly, the price of white pepper for export is at 10,000 USD/ton (equivalent to 256,800 VND/kg).
In the Indian market, pepper prices remain unchanged in most pepper cultivars. Garbled pepper costs 67,200 rupees/kg, (equivalent to 204,094 VND/kg), Ungarbled is listed at 65.200 rupees/kg, while gram/liter has the lowest price of 64,200 rupees/kg (exchanged at 194,982 VND/kg).
Assessment and forecast
According to the Vietnam Pepper and Spices Association (VPSA), pepper prices are increasing compared to previous years, bringing benefits to garden owners. The world's pepper consumption demand is forecast to remain high, promoting pepper prices to maintain their upward momentum in the coming time.
However, this year, many farmers have profited greatly from durian and coffee, leading to pepper accumulation, making raw materials scarce even during the peak harvest season. Processors are forced to use inventories to ensure delivery progress for signed export orders.
The fact that many people store pepper waiting for prices to increase has led to the situation where pepper prices in the garden are sometimes higher than the price of raw materials at export producers. The current situation will make business operations more difficult if farmers continue to limit the sale of raw materials to the market.
