Domestic pepper prices: Extending the increase
As of 11:30 today (September 1), the domestic pepper market has been moving in a high upward trend, increasing by an average of VND3,600/kg. Currently, the purchase price of pepper is recorded at 138,000 - 142,000 VND/kg.
Despite an increase of VND 2,000/kg, Gia Lai province is still the area with the lowest pepper purchasing price in the country, reaching VND 138,000/kg.
Dong Nai and Ho Chi Minh City both increased prices to VND 140,000/kg, a sharp increase of VND 4,000/kg.
Notably, for Dak Lak and Lam Dong province, compared to the same time last week, pepper prices in these two regions have increased by VND15,000/kg, bringing the price to VND142,000/kg.
World pepper prices: Unexpected price increase
In the world market, pepper prices have increased in most regions. The Indonesian exchange - one of the most vibrant markets - simultaneously increased slightly by 0.01%. Currently, these two items are traded between 7,529 - 10,170 USD/ton (equivalent to 198,013 VND/kg - 267,471 VND/kg).
In Vietnam, the export price of black pepper of 500 g/l and 550 g/l reversed and increased sharply to 7.38%, currently anchored at 6,240 - 6,370 USD/ton. ASTA white pepper prices reached 8,950 USD/ton (equivalent to 235,385 VND/kg), up an additional 1.68%.
In the same direction, the Brazilian exchange increased by 3.31%, this region is currently at 6,050 USD/ton (about 159,115 VND/kg). Meanwhile, Malaysia's black and white pepper remained at 11,750 USD/ton and 9,000 USD/ton.
Assessment and forecast
Importers from the Middle East, the EU and the US are accelerating their goods gathering to serve the year-end crop, causing a sharp increase in domestic consumption transactions. This creates momentum for domestic pepper prices to continuously recover.
In addition, the supply-demand factor is also changing significantly. Supply is showing signs of scarcity as this is not the main harvest time, causing units to compete. Exporting enterprises have begun to sign new contracts, needing to speed up collection at high prices to ensure progress.
