Domestic pepper prices: Longan afternoon, deep decrease after 3 consecutive weeks of increase
As of 1:00 p.m. today (March 2), domestic pepper prices still maintained the increase compared to the previous trading session, currently the purchase price fluctuates between 157,000 - 159,000 VND/kg. The average pepper purchase price nationwide increased to 158,000 VND/kg.
Although the weekend session recorded an increase of 1,000 - 2,000 VND/kg nationwide, in general, pepper prices in key producing provinces and cities decreased from 2,000 VND/kg to 3,000 VND/kg during the week.
Currently, black pepper prices in Dak Lak and Dak Nong provinces are at 159,000 VND/kg, down 3,000 VND/kg compared to last week.
In Binh Phuoc province, pepper prices dropped by VND 2,000/kg last week, down to VND 158,000/kg.
In other localities such as Ba Ria - Vung Tau and Gia Lai, pepper prices also decreased by 3,000 VND/kg, setting the mark of 157,000 VND/kg.
World pepper prices: intertwined increases and decreases
At the end of last week, the International Pepper Company (IPC) listed the price of Indonesian black pepper at 7,235 USD/ton, down 0.71% (equivalent to 52 USD/ton) compared to last week.
Similarly, the price of Indonesian white pepper last week also plummeted by 168 USD/ton, to 9,959 USD/ton.
Meanwhile, Vietnam's black pepper prices last week increased sharply by 400 - 450 USD/ton, to 6,900 USD/ton for 500 g/l and 7,100 USD/ton for 550 g/l.
In the same direction, the price of ASTA 570 black pepper in Brazil last week increased by 50 USD/ton to 6,850 USD/ton. Malaysia also recorded an additional increase of 200 USD/ton for black pepper, sold on the market at 9,700 USD/ton.
In the Indian market, pepper prices remained unchanged at the end of the week for most pepper cultivars. Garbled pepper costs 67,200 rupees/kg, (equivalent to 204,040 VND/kg), Ungarbled is listed at 65.200 rupees/kg, while gram/liter has the lowest price of 64,200 rupees/kg (exchanged at 194,931 VND/kg).
Assessment and forecast
According to statistics from the Vietnam Pepper and Spices Association (VPSA), the country currently has about 200 pepper processing and trading enterprises, including 15 leading enterprises, accounting for 70% of the country's exports.
The entire industry has 14 deep processing factories. In particular, there are 5 foreign-invested enterprises, accounting for nearly 30% of the export market share. Vietnamese pepper processing technology has met the standards of the world market in general. Enterprises with high-tech processing factories according to ASTA, ESA, JSSA standards have created a variety of products: Black sugar, whole grain white sugar, flour grinding, small packaging.
Supply from the new crop this year has just begun to be brought to the market. At this time last year, pepper gardens had a big harvest, but this year, in mid-February, the nets were spread, preparing to be harvested.
The reason is due to unfavorable weather during the growth and bearing of fruit. At the time of processing the plants for flowering, the prolonged harsh sunshine and dryness caused the flowers to fall off, and the fruit set rate was low. Pepper growers also have to carefully process and fertilize them. Therefore, pepper ripened late and harvested 1 month later.
