Domestic pepper prices: Continuing the deep decline
As of 11:30 am today (March 16), domestic pepper prices have decreased compared to the closing session yesterday, averaging 141,200 VND/kg. Currently, key areas are trading in the range of 140,500 - 143,000 VND/kg.
Domestic pepper prices continue to decline sharply, specifically as follows:
Gia Lai and Dong Nai provinces respectively decreased by 2,000 VND/kg and 2,500 VND/kg, both listed at the mark of 140,500 VND/kg.
Dak Lak recorded a decrease of 1,500 VND/kg compared to the previous closing session, bringing the market price to 143,000 VND/kg.
Notably, Ho Chi Minh City and Lam Dong province decreased the deepest by 2,500-3,500 VND/kg, down to 141,000 VND/kg.
World pepper prices: In the same direction
In the world market, pepper prices have fallen. The Indonesian exchange - one of the most vibrant markets is no exception. Black and white peppers are traded in the range of 7.014 - 9,287 USD/ton (equivalent to 184,595 VND/kg - 244,416 VND/kg), down 15 USD/ton and 19 USD/ton respectively.
The Brazilian market is listed at 6,100 USD/ton (about 160,540 VND/kg). Notably, black and white peppers maintained an increase of 100 USD/ton, trading at 12,100 USD/ton and 9,100 USD/ton.
In Vietnam's pepper export market, the price of black peppers of 500 g/l and 550 g/l remained unchanged at a slight decrease of 100 USD/ton, anchored at the mark of 6,300 - 6,400 USD/ton. Meanwhile, the price of ASTA white pepper remained unchanged, offered for sale at 9,050 USD/ton (equivalent to 238,178 VND/kg).
Assessments and forecasts
The price decrease in the context of peak harvest shows that the pressure to sell off goods to rotate capital of people is increasing due to concerns that prices will fall even deeper.
In addition, the decrease in export prices of Vietnam is mainly due to pressure from the new harvest that is supplying a large amount of goods to the market, while the USD maintains its strength, making agricultural products more expensive for other foreign currency importers.
