Domestic pepper prices: Reversing to decrease
As of 11:30 today (October 18), the domestic pepper market has decreased in price in some areas, an average of 145,200 VND/kg. Currently, the price ranges from 144,000 - 146,000 VND/kg.
Some areas maintained stable prices compared to the previous session, except for provinces such as Dak Lak and Lam Dong, which decreased by 1,000 VND/kg.
Gia Lai province today listed 144,000 VND/kg. This is the lowest price in the region.
Ho Chi Minh City and Dong Nai maintain the trading level at 145,000 VND/kg.
Lam Dong and Dak Lak set the price at 146,000 VND/kg.
World pepper prices: Indonesia maintains a decrease
In the world market, pepper prices are mostly stable at the end of the week. In particular, the Indonesian exchange - one of the most vibrant markets - continued to fall. Currently, these two items are traded between 7,228 - 10,085 USD/ton (equivalent to 190,502 VND/kg - 265,801 VND/kg).
On the other hand, the Brazilian market, after a deep price drop of 1.64%, is currently at 6,100 USD/ton (about 160,772 VND/kg). In the same direction, black and white pepper were stable, trading at 12,500 USD/ton and 9,500 USD/ton, respectively.
In the pepper export market of Vietnam, the price of black pepper of 500 g/l and 550 g/l is flat, anchored at 6,400 - 6,600 USD/ton. ASTA white pepper prices remain high, currently standing at 9,050 USD/ton (equivalent to 238,522 VND/kg).
Assessment and forecast
The International Pepper Community said that in the third week of October, the global pepper market continued to have a mixed trend between producing and consuming countries.
The USD exchange rate and the domestic supply-demand relationship are the two most influential factors for foreign pepper prices at the present time. In addition, business capital is also being strongly withdrawn by the gold market increasing too much, along with the coffee harvest in Vietnam.
Previously, Vietnamese pepper was mainly exported raw, depending on international prices, now the proportion of white pepper, ground pepper, organic pepper, and packaged pepper has increased significantly. These items are often priced 20 - 40% higher than raw black pepper. The conversion and diversification of products has helped the export value in the first 9 months of the year to be positive.
