Domestic pepper prices: Prices drop after a high week
As of 12:00 today (March 16), domestic pepper prices remained stable, currently the purchase price fluctuated between 158,000 - 159,000 VND/kg. The average pepper purchase price nationwide is down to 158,400 VND/kg.
At the end of the week, domestic pepper prices lost 1,000 - 3,000 VND/kg compared to the closing price of the previous week.
Pepper prices in Dak Nong and Dak Lak provinces are being purchased at the highest level of 159,000 VND/kg, down 2,000 - 3,000 VND/kg last week.
Similarly, pepper prices in other localities such as Gia Lai, Ba Ria - Vung Tau decreased by VND 1,000/kg, down to VND 159,000/kg.
World pepper prices: Unexpectedly increased sharply
Over the past week, world pepper prices fluctuated in different directions in Indonesia and Brazil, while stably in Malaysia and Vietnam.
The International Pepper Company (IPC) is listing the price of Indonesian black pepper at 7,265 USD/ton, down 1.5% (equivalent to 111 USD/ton) compared to last week.
In contrast, Brazil's ASTA 570 black pepper price last week increased by 50 USD/ton to 6,900 USD/ton.
Malaysia's black pepper prices remained unchanged for the whole week at 9,800 USD/ton. Similarly, Vietnam's pepper export price also remains stable at 7,000 USD/ton for 500 g/l and 7,200 USD/ton for 550 g/l.
In the Indian market, pepper prices remained unchanged at the end of the week for 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
Although there was a decrease of VND1,000 tri thousand/kg compared to the closing price of last week's pepper crop, with the current pepper price, farmers not only have a high income but also have better motivation to invest and care for pepper gardens, contributing to improving economic efficiency and stabilizing their lives. High pepper prices also encourage farmers to store products, helping to reduce selling pressure right in the harvest season.
According to data from the General Department of Customs, Vietnam is the main supplier of pepper to the US, reaching 75,602 tons, accounting for 77.2% and increasing by 41.8% compared to the previous year. Followed by countries: India: 7,750 tons, accounting for 7.9% of the market share; Indonesia: 7,708 tons, accounting for 7.9% of the market share; Brazil: 3,704 tons, accounting for 3.8% of the market share.
The Vietnam Pepper and Spices Association (VPSA) forecasts that global pepper prices in 2025 will continue to remain high due to reduced supply, while demand in major markets such as the US and Europe remains stable. The demand for pepper in the food and spice processing industry is still the main driving force for the market.
