Domestic pepper prices: Maintain stability
As of 1:30 p.m. today (February 19), domestic pepper prices have not changed compared to the previous trading level in all provinces and cities. Currently, the purchase price ranges from 160,000 - 162,500 VND/kg. The average pepper purchase price nationwide today is 160,900 VND/kg.
Ba Ria - Vung Tau, Binh Phuoc and Gia Lai are the three provinces that have kept the pepper purchase price unchanged at 160,000 VND/kg.
In the same direction, Dak Lak province did not record any major fluctuations when garden owners in this area still sold to the market at 162,000 VND/kg.
Dak Nong province firmly holds the leading position among the provinces and cities with the highest pepper purchases in the country, listed at 162,500 VND/kg.
World pepper prices: Developments in the same direction
According to the International Pepper Community, on the trading floors, the price of black and white pepper in the Indonesian market remained unchanged after a series of days of stagnation. Black and white pepper prices remained unchanged, selling on the market at 7,298 USD/ton (equivalent to 187.778 VND/kg) and 10,143 USD/ton (equivalent to 260.980 VND/kg).
For the Brazilian market, the price of ASTA 570 black pepper traded in the middle of the week was at 6,800 USD/ton.
In the Malaysian market, ASTA black and white pepper prices remained unchanged, anchored at 9,000 USD/ton and 11,600 USD/ton, respectively.
In Vietnam, the export black pepper price is unchanged, with 500 g/l traded at 6,500 USD/ton (equivalent to 167.245 VND/kg); 550 g/l is at 6,650 USD/ton (equivalent to 171.105 VND/kg). Similarly, the price of white pepper for export is at 9,550 USD/ton (equivalent to 245.722 VND/kg).
In the Indian market, pepper prices have decreased by 200 rupees/kg in most types of pepper. Garbled pepper costs 67,400 rupees/kg, (equivalent to 205.577 VND/kg), Ungarbled is listed at 65.400 rupees/kg, while gram/liter has the lowest price of 64,400 rupees/kg (exchanged at 196.427 VND/kg).
Assessment and forecast
According to the forecast, the pepper market maintains stable selling prices in most countries and territories. The global pepper market is in a state of scarce supply, while demand remains high and may continue to increase.
According to The Star (Singapore), after a strong increase in mid-2024, world pepper prices are likely to continue to increase this year due to a serious decrease in output, while demand far exceeds supply.
China, one of the largest consumer import markets, is expected to increase purchases as soon as Vietnam enters the main harvest this month. According to experts, domestic pepper prices may increase by 40 - 50% compared to the current level. Currently, farmers in localities are speeding up harvesting, but output in some areas has decreased due to unfavorable weather conditions.
In the short term, pepper prices may continue to rise, especially if demand from China increases, however, the market may adjust when new supply begins.
