Domestic pepper prices: Reversal to decrease prices
Today (December 21), domestic pepper prices are trading in the range of 147,000 - 149,000 VND/kg, an average decrease of 1,000 - 1,500 VND/kg compared to last week depending on the region.
At the end of last week, Ho Chi Minh City and Dong Nai both decreased by VND500-1,000/kg, trading in the range of VND147,500-148,000/kg. Meanwhile, the owner of the growing area in Gia Lai decreased the most by VND 1,500/kg, anchored at VND 147,000/kg.
Dak Lak and Lam Dong regions both decreased by VND 1,000/kg, commonly at VND 149,000/kg.
World pepper prices: Stable
According to the International Pepper Company (IPC), world pepper prices are mostly stable.
Meanwhile, Indonesia's black pepper prices fell $35/ton compared to last week, reaching $6,961/ton. In the same direction, the price of Indonesian white pepper reversed and decreased by 48 USD/ton last week, reaching 9,597 USD/ton.
Brazilian ASTA 570 black pepper products are being offered for sale at 6,075 USD/ton, unchanged from the previous week. Similarly, the price of ASTA Malaysia black and white pepper remained unchanged, at 9,000 USD/ton and 12,000 USD/ton, respectively.
In Vietnam, black pepper prices for export remained unchanged before the closing price of the week, at 6,500-6,700 USD/ton for the 500 g/l and 550 g/l types.
Assessment and forecast
Garden owners in the Central Highlands often grow pepper and coffee intercropping. When coffee prices recover and short-term financial pressure is relieved, they are no longer forced to sell pepper - an agricultural product that is considered "reserved". The fact that farmers have stopped selling at low prices has forced traders to increase prices.
This is in the context of the sluggish demand for goods for export to China near Tet. Chinese traders and exporting enterprises took advantage of yesterday's price drop opportunity to increase orders, creating a solid support for the market.
