Domestic pepper prices: Soaring, surpassing the peak of 162,000 VND/kg
As of 1:30 p.m. today (February 17), domestic pepper prices reversed and increased sharply compared to the closing price of the weekly session, increasing by an average of VND 2,400/kg per session, currently the purchase price fluctuates between VND 160,000 - 162,000/kg. The average pepper purchase price nationwide today is 160,800 VND/kg.
Ba Ria - Vung Tau, Binh Phuoc and Gia Lai are the 3 provinces that simultaneously purchase pepper at 160,000 VND/kg, a sharp increase of about 2,000 - 3,000 VND/kg.
Dak Lak and Dak Nong both hold the position of the two provinces with the highest pepper purchasing prices in the country, currently garden owners in this area are selling to the market at 162,000 VND/kg, increasing by 2,000 VND/kg.
World pepper prices: Stable in the first session of the week
According to the International Pepper Community, on the exchanges, black and white pepper prices in the Indonesian market moved in the same direction. Black and white pepper prices both held the upward mark of 0.49%, respectively standing at 7,294 USD/ton (equivalent to 186.581 VND/kg) and 10,068 USD/ton (equivalent to 257.540 VND/kg).
For the Brazilian market, the price of ASTA 570 black pepper was traded at 6,800 USD/ton at the end of the week.
In the Malaysian market, ASTA black and white pepper prices remained unchanged, anchored at 9,000 USD/ton and 11,600 USD/ton, respectively.
In Vietnam, the export black pepper price is unchanged, with 500 g/l traded at 6,500 USD/ton (equivalent to 166,400 VND/kg); 550 g/l is at 6,650 USD/ton (equivalent to 170,240 VND/kg). Similarly, the price of white pepper for export is at 9,550 USD/ton (equivalent to 244.480 VND/kg).
In the Indian market, pepper prices remained unchanged in most pepper prices after 2 consecutive increases. Garbled pepper costs 67,900 rupees/kg, (equivalent to 206.586 VND/kg), Ungarbled is listed at 65.900 rupees/kg, while gram/liter has the lowest price of 64,900 rupees/kg (exchanged at 197.459 VND/kg).
Assessment and forecast
If at this time last year, pepper gardens in Vietnam had a big harvest, but this year, in mid-February, the nets were spread, preparing for harvest. The reason is that during the growth process, the plants bear fruit and encounter unfavorable weather. At the time of processing the plants for flowering, the prolonged harsh sunshine and dryness caused the flowers to fall off, and the fruit set rate was low. Pepper growers also have to carefully process and fertilize, leading to a late harvest compared to the same period of 1 month.
Since mid-2024, pepper prices have increased by about VND60 thousand/kg, the highest in many years. High selling prices help people excitedly enter the new harvest because with this price, farmers still have stable revenue. This is also a motivation for farmers to invest in the next crop.
