Domestic pepper prices
As of 1:30 PM today (August 1), domestic pepper prices suddenly decreased, listed at 139,000 VND/kg. Currently, key areas are trading in the range of 138,000 - 141,000 VND/kg.
Domestic pepper prices interrupted the 3-day consecutive sideways trend in all regions. Currently, provinces and cities list prices as follows:
Gia Lai, Dong Nai and Ho Chi Minh City simultaneously listed at 138,000 VND/kg, down 1,000 VND/kg.
Not outside the price slippage trend, Dak Lak and Lam Dong respectively offered for sale at the highest purchase price in the whole region of 141,000 VND/kg and 140,000 VND/kg, down 1,000 VND/kg.
World pepper price
In the world market, pepper prices adjusted in some countries. Indonesia's black and white peppers simultaneously decreased, trading in the range of 6,760 - 9,317 USD/ton (equivalent to 179,073 VND/kg - 246,808 VND/kg), down 63 USD/ton and 87 USD/ton respectively.
Meanwhile, the price of black pepper in Brazil sold to the market is 5,700 USD/ton (about 150,993 VND/kg). Notably, black and white pepper in Malaysia are still trading at high prices, respectively 12,200 USD/ton and 9,300 USD/ton.
In Vietnam's pepper export market, the price of black peppers of 500 g/l and 550 g/l remained unchanged at 5,970 - 6,050 USD/ton. Notably, the price of ASTA white pepper unexpectedly increased by 100 USD/ton, offered for sale at 8,350 USD/ton (equivalent to 221,192 VND/kg).
Assessments and forecasts
After a week of continuous price increases, in the last days of the week, the domestic market adjusted to a safe threshold of 140,000 VND/kg.
Vietnam's pepper and spice industry is entering a new competitive phase, where the advantages are no longer only in output or cheap prices but shift to quality, sustainability and brand building ability. Therefore, if bottlenecks in administrative procedures, costs and credit are removed, Vietnam's pepper and spice industry can completely continue to maintain growth in the coming time, while expanding to many new markets with higher value.
