Domestic pepper prices: Stable after 2 days of price increase
As of 11:30 today (November 19), the domestic pepper market is unchanged, averaging 145,600 VND/kg. Currently, the price ranges from 145,000 - 146,500 VND/kg.
Key areas after the day increased by 500 VND/kg, keeping this price range in today's trading session. The price list on the market in key areas is as follows:
Ho Chi Minh City, Gia Lai and Dong Nai put the market at 145,000 VND/kg.
Dak Lak and Lam Dong provinces set the highest price in the region at 146,500 VND/kg.
World pepper prices: Mid- afternoon decrease
In the world market, pepper prices are mostly stable in the regions. The Indonesian exchange - one of the most vibrant markets - suddenly lowered its price. Currently, these two items have both decreased by 0.16%, trading in the range of 7,087 - 9,649 USD/ton (equivalent to 187,012 VND/kg - 254,618 VND/kg).
On the other hand, the Brazilian market has maintained a stable streak, currently holding at 6,175 USD/ton (about 162,946 VND/kg). Meanwhile, black and white pepper remained unchanged, trading at 12,300 USD/ton and 9,200 USD/ton.
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 238,812 VND/kg).
Assessment and forecast
The momentum to boost domestic pepper prices this week comes from the new tax policy of the US Government. In the domestic market, in addition to the psychological factor from tax information, short-term supply is not abundant as many pepper growing areas are still affected by the weather, high fertilizer, labor and transportation costs. However, with the price range of 145,000 - 146,500 VND/kg, most growing area owners still make a profit, but the profit margin is no longer too wide.
On the part of businesses, taking advantage of opportunities from tax incentives in the US market, promoting deep processing and diversifying the export market is considered an important direction to maintain turnover growth for the pepper industry.
