Domestic pepper prices: flat trend
As of 11:30 today (15.), domestic pepper prices suddenly "turned around" and dropped, an average decrease of VND1,900/kg compared to the previous trading session. Currently, the purchase price ranges from 158,000 - 159,000 VND/kg. The average pepper purchase price nationwide is at 158,400 VND/kg.
Pepper purchasing prices in the three provinces of Gia Lai, Ba Ria - Vung Tau, Binh Phuoc were simultaneously listed at 158,000 VND/kg, down to around 1,500-2,000 VND/kg.
Notably, after 2 days of maintaining the highest mark since the beginning of the week at 161,000 VND/kg, pepper prices in Dak Lak and Dak Nong provinces both decreased by 2,000 VND/kg, setting the mark of 159,000 VND/kg.
World pepper prices: Stable globally
According to the International Pepper Community, on the trading floors, black and white pepper prices in the Indonesian market tended to move sideways after a series of increases and decreases. Black pepper prices remained at 7,265 USD/ton (equivalent to 186,784 VND/kg). The price of white pepper announced is 10,252 USD/ton (equivalent to 263,579 VND/kg).
For the Brazilian market, the price of ASTA 570 black pepper is still trading at 6,900 USD/ton.
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 179,970 VND/kg); the 550 g/l type is currently at 7,200 USD/ton (equivalent to 185,112 VND/kg). Similarly, the price of white pepper for export is at 10,000 USD/ton (equivalent to 257,100 VND/kg).
In the Indian market, pepper prices remain unchanged in most pepper cultivars. Garbled pepper costs 67,200 rupees/kg, (equivalent to 204,537 VND/kg), Ungarbled is listed at 65.200 rupees/kg, while gram/liter has the lowest price of 64,200 rupees/kg (exchanged at 195,406 VND/kg).
Assessment and forecast
Vietnam currently has more than 110,000 hectares of pepper crops, with an average yield of 26 quintals/ha, double the global average. The Ministry of Agriculture and Environment has developed and approved a Project for the development of key industrial crops, in which the pepper industry will maintain an area of about 80,000 - 100,000 hectares by 2030, with an output of 200,000 - 300,000 tons.
The goal is to set that by 2030, about 40% of pepper cultivation areas in our country will meet global GAP standards, 40 - 50% of areas will be granted growing area codes with traceability of products. The revival of pepper growing areas and clearer strategies are helping pepper return to its position as a high-value crop.
