Domestic pepper prices: Sideways
As of 11:00 AM today (March 17), domestic pepper prices suddenly stood still compared to yesterday's closing session, averaging 141,200 VND/kg. Currently, key areas are trading in the range of 145,000 - 143,000 VND/kg.
Domestic pepper prices after a series of deep declines have temporarily stopped adjusting, specifically as follows:
Gia Lai and Ho Chi Minh City provinces respectively listed at the marks of 140,50 VND/kg and 141,000 VND/kg.
Dong Nai province maintains the threshold of 140,500 VND/kg. This is also one of the provinces with the lowest prices in the region.
Dak Lak, Lam Dong recorded prices in the range of 141,000-143,000 VND/kg.
World pepper prices: In the same direction
In the world market, pepper prices remained unchanged compared to the previous closing session. The Indonesian exchange - one of the most vibrant markets - was no exception. Black and white peppers traded in the range of 7.014 - 9,287 USD/ton (equivalent to 184,616 VND/kg - 244,444 VND/kg).
The Brazilian market maintained an increase of 50 USD/ton, listed at 6,100 USD/ton (about 160,559 VND/kg). Notably, black and white peppers maintained an increase of 100 USD/ton for many days, trading at 12,100 USD/ton and 9,100 USD/ton.
In Vietnam's pepper export market, black pepper prices of 500 g/l and 550 g/l are anchored at 6,300 - 6,400 USD/ton. Meanwhile, ASTA white pepper price remains unchanged, offered for sale at 9,050 USD/ton (equivalent to 238,206 VND/kg).
Assessments and forecasts
Geopolitical tensions in the Middle East are creating significant impacts on many export agricultural products of Vietnam, including pepper.
Before the conflict escalated, pepper prices in planting areas in the Central Highlands and Southeast regions once approached the 150,000 VND/kg mark. However, since the geopolitical situation became tense, pepper prices began to fluctuate more strongly due to many risks appearing in the export market.
Experts believe that domestic pepper prices may continue to fluctuate strongly in the coming time due to the impact of seasonal supply and purchasing demand from export businesses.
