Domestic pepper prices: Week of sharp drop
Today (March 22), domestic pepper prices traded in the range of 135,000 - 136,000 VND/kg, a sharp decrease of 7,500 - 8,500 VND/kg (equivalent to 5.3 - 5.9%) compared to the previous week.
At the end of last week, pepper prices in Dak Lak and Lam Dong recorded the strongest decrease of 8,500 VND/kg, bringing the purchase price of pepper to the threshold of 136,000 VND/kg.
Right behind that is Ho Chi Minh City when the decline was 8,000 VND/kg, down to 135,500 VND/kg.
In other localities such as Gia Lai and Dong Nai provinces, pepper prices decreased by 7,500 - 8,000 VND/kg respectively, listed at 135,000 VND/kg.
World pepper prices: Price slippage
According to the International Pepper Association (IPC), world pepper prices have decreased.
Indonesia's black pepper export price is currently quoted at 6.994 USD/ton, down 0.29% (equivalent to 20 USD/ton) compared to the previous week. At the same time of the survey, Indonesia's white pepper price reached 9,260 USD/ton, down 0.29% (equivalent to 27 USD/ton) compared to the previous week.
Brazilian black pepper ASTA 570 decreased by 0.82% (about 50 USD/ton), to 6,050 USD/ton. Meanwhile, the price of black and white ASTA Malaysia pepper remained unchanged, selling at 9,100 USD/ton and 12,100 USD/ton respectively.
In Vietnam, export black pepper prices are trending sideways in the range of 6,300-6,400 USD/ton for 500 g/l and 550 g/l types. Similarly, ASTA white pepper prices are currently at 9,150 USD/ton.
Assessments and forecasts
Contrary to the fairly stable trend of world pepper, domestic pepper prices have decreased significantly since the beginning of the year. The reason for the decrease in domestic pepper prices is due to increased supply from the new harvest, while demand has not increased correspondingly.
Although this year's harvest has begun, many farmers only sell a small part of the output to compensate for fertilizer and labor costs, keeping the rest to wait for higher prices. However, with limited supply, the pepper market is expected to still maintain high prices in the medium and long term.
