Domestic pepper prices: Southwest slightly decreased
As of 1:00 p.m. today (March 21), domestic pepper prices reversed and decreased slightly, an average decrease of VND300/kg compared to the previous trading session. Currently, the purchase price ranges from 159,000 - 160,500 VND/kg. The average pepper purchase price nationwide is at 159,500 VND/kg.
The provinces and cities all decreased by 500 VND/kg, down to 159,000 VND/kg, except for Dak Lak and Dak Nong provinces, which kept the previous closing trading price unchanged.
World pepper prices: All increase
According to the International Pepper Community, on trading floors, black and white pepper prices in the Indonesian market "turned around" to increase. Black pepper prices increased by 0.29%, fluctuating around 7,276 USD/ton (equivalent to 187,285 VND/kg). In the same direction, white pepper prices increased slightly by 0.28%, announcing the price at 10,219 USD/ton (equivalent to 263,038 VND/kg).
For the Brazilian market, the price of ASTA 570 black pepper unexpectedly increased to 7,000 USD/ton after a long period of stagnation (up 1.43%).
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, black pepper prices for export unexpectedly fluctuated after a series of stagnant days. The 500 g/l type is traded at 7,100 USD/ton (equivalent to 182,754 VND/kg); the 550 g/l type is currently at 7,300 USD/ton (equivalent to 187,902 VND/kg). Similarly, the price of white pepper for export also increased to 10,100 USD/ton (equivalent to 259,974 VND/kg).
In the Indian market, pepper prices remain unchanged in most pepper cultivars. Garbled pepper costs 67,200 rupees/kg, (equivalent to 206,264 VND/kg), Ungarbled is listed at 65.200 rupees/kg, while gram/liter has the lowest price of 64,200 rupees/kg (exchanged at 197,056 VND/kg).
Assessment and forecast
According to the latest report of the Vietnam Pepper and Spices Association, as of March 16, pepper consumption demand has improved from major markets such as the EU, the US and some Asian countries. However, farmers and traders continue to store goods and sell them in small drops after the harvest season.
Exporters and traders are actively building reserve warehouses to anticipate the possibility of price increases in the future, despite challenges due to financial and reserve limitations.
In terms of demand, the Chinese market is hesitant to buy goods, putting pressure on prices. In addition, there is the trend of delaying purchases in major markets as well as competition between Vietnamese pepper exporters.
On the other hand, weather conditions are quite favorable in main harvest areas across the country. Up to now, the harvest rate in pepper growing areas has fluctuated between 30 - 50% of the area.
