Domestic pepper prices: Continue to increase
As of 12:00 today (March 18), domestic pepper prices were in full green, increasing by an average of 1,300 VND/kg compared to the previous trading session. Currently, the purchase price ranges from 159,000 - 161,000 VND/kg. The average pepper purchase price nationwide is at 159,900 VND/kg.
Despite the strongest increase of VND 2,000/kg, Binh Phuoc is still the province that purchases pepper at the lowest price of VND 159,000/kg. Ba Ria - Vung Tau province also set a mark of 159,000 VND/kg, but pepper prices only increased by 1,000 VND/kg compared to the closing price.
In the same direction, pepper purchasing prices in Gia Lai province increased by VND 1,500/kg, reaching the market price of VND 159,500/kg.
Notably, garden owners in Dak Lak and Dak Nong provinces have increased pepper prices by VND 1,000/kg, setting the mark of VND 161,000/kg.
World pepper prices: Sharp increase
According to the International Pepper Community, on the exchanges, black and white pepper prices in the Indonesian market increased again. Black pepper prices increased by 0.76%, fluctuating around 7,321 USD/ton (equivalent to 188,297 VND/kg). White pepper prices increased slightly by 0.3%, announcing the price at 10,283 USD/ton (equivalent to 264,479 VND/kg).
For the Brazilian market, the price of ASTA 570 black pepper is still trading at 6,900 USD/ton.
In the Malaysian market, ASTA black and white pepper prices have remained unchanged for many days, anchored at 9,800 USD/ton and 12,300 USD/ton.
Notably, in Vietnam, exported black pepper prices continued to remain unchanged. The 500 g/l type is traded at 7,000 USD/ton (equivalent to 180,040 VND/kg); the 550 g/l type is currently at 7,200 USD/ton (equivalent to 185,184 VND/kg). Similarly, the price of white pepper for export is at 10,000 USD/ton (equivalent to 257,200 VND/kg).
In the Indian market, pepper prices remain unchanged in most pepper cultivars. Garbled pepper costs 67,200 rupees/kg, (equivalent to 204,732 VND/kg), Ungarbled is listed at 65.200 rupees/kg, while gram/liter has the lowest price of 64,200 rupees/kg (exchanged at 195,592 VND/kg).
Assessment and forecast
The high prices maintained since the beginning of the year are positive signals, opening up bright prospects for the pepper industry. Although global pepper output is likely to continue to decrease, consumption demand remains stable, Vietnamese pepper is facing a "golden opportunity" to make a breakthrough this year.
Major markets such as the US, Europe and the Middle East are increasing pepper imports to meet the needs of consumption and food processing, opening up great opportunities for Vietnamese pepper exporters. Therefore, exporting enterprises are stepping up purchases to meet orders to Europe and the US. At the same time, Vietnamese pepper is gradually moving to a higher-end segment, focusing on organic pepper and deep-processed pepper products.
