Domestic pepper prices: Reversed to increase
As of 11:30 today (November 2), domestic pepper prices are trading between 145,500 - 148,000 VND/kg, an average increase of 3,500 - 5,000 VND/kg compared to last week depending on the region.
At the end of last week, Ho Chi Minh City and Dong Nai recorded a high increase, about 3,500 - 4,000 VND/kg, to 145,500 VND/kg and 146,000 VND/kg.
Recorded the strongest increase of VND 5,000/kg, pepper prices in Dak Lak and Lam Dong are commonly at VND 148,000/kg.
In Gia Lai, the owner of the growing area sold at the lowest level of 145,500 VND/kg, down 3,500 VND/kg.
World pepper prices: flat in many regions
According to the International Pepper Company (IPC), world pepper prices have mostly decreased compared to the previous week.
Of which, Indonesia's black pepper prices decreased by 16 USD/ton compared to last week and are currently trading at 7,213 USD/ton. In the same direction, the price of Indonesian white pepper decreased by 21 USD/ton, reaching 10,064 USD/ton.
Brazil's ASTA black quota remained unchanged, trading last week at 6,100 USD/ton. Meanwhile, ASTA Malaysia black and white pepper prices decreased on the weekend, down 300-200 USD, respectively, selling at 9,200 USD/ton and 12,300 USD/ton.
Notably, the export price of black pepper in Vietnam has not fluctuated much, currently fluctuating between 6,400 - 6,600 USD/ton for the 500 g/l and 550 g/l type.
Assessment and forecast
In the short term, domestic pepper prices are likely to remain high. The reason for maintaining high prices is that the new crop supply has not appeared, the amount of goods among the people is not much, so the selling pressure is not large.
Import demand from major markets such as the Middle East and Europe is increasing again to serve the year-end consumption season. The positive trend of the USD/VND exchange rate also contributes to supporting export activities, giving Vietnamese pepper prices an advantage.
