Domestic pepper prices stabilize and continue to increase slightly
As of 12 noon today (September 17), domestic pepper prices continued to increase slightly by 500 - 1,000 VND/kg in many localities. The current purchase price ranges from 157,000 - 159,500 VND/kg, averaging about 158,000 VND/kg nationwide.
Dak Nong and Dak Lak continue to hold the top spot when trading at 159,000 VND/kg, unchanged from yesterday.
Gia Lai recorded an increase of 500 VND/kg, reaching 157,000 VND/kg.
Ba Ria - Vung Tau and Binh Phuoc are maintaining a stable high of 157,000 VND/kg, unchanged from the previous session.
Pepper prices today have recorded a steady increase in recent days, partly reflecting positive signals from the export market as well as the shrinking supply. Many observers expect domestic pepper prices to soon reach VND160,000/kg if this increase continues for the week.
World pepper prices slightly decreased, Vietnamese pepper took the lead
In the international market, Vietnamese pepper prices continued to increase strongly on April 17. Of which, black pepper of 500g/l has risen to 6,800 USD/ton, an increase of 2.94% compared to yesterday, equivalent to about 177,200 VND/kg. Black grapes of 550g/l also increased by 1.45%, reaching 6,900 USD per ton, about 179,800 VND per kg.
Notably, Vietnamese white pepper ASTA recorded an increase of 2.04%, to 9,800 USD per ton, equivalent to more than 255,000 VND per kg.
Meanwhile, the markets of other countries are relatively stable. In Indonesia, black and white pepper prices both decreased slightly by 0.18%, reaching 7,051 and 9,634 USD per ton, respectively. Brazilian black pepper prices remained unchanged at 6,850 USD per ton. In Malaysia, ASTA black pepper prices remained unchanged at US$9,600 per ton, while ASTA white pepper also remained unchanged at US$12,100 per ton.
With a clear increase, Vietnamese pepper is affirming its solid position in price in the international market, especially in the context of demand for white pepper showing strong signs of recovery.
Assessment and forecast
With this year's pepper harvest almost complete, the supply of raw materials is showing signs of tightening. In many key areas such as Dak Nong, Dak Lak, Binh Phuoc or Ba Ria - Vung Tau, the amount of pepper offered to the market is still quite modest due to the hoarding mentality of farmers.
It is noteworthy that in the recent crop year, people have earned high profits from alternative crops such as durian, coffee, etc., so they are not subject to pressure to sell pepper right after harvest. Instead, many farming households choose to keep their goods, waiting for the price to reach the expected level. This creates a local scarcity in supply, which can cause pepper prices to continue to stay high or increase slightly in the short term.
Experts say that if the trend of "waiting for prices" continues to spread, the domestic pepper market will remain vibrant, especially when export demand is forecast to increase in the second quarter of 2025. However, in the context of the world market still having many fluctuations, pepper growers still need to be cautious and closely monitor developments to make appropriate sales decisions.
