Domestic pepper prices: Reversal to increase
As of 1:30 p.m. today (November 23), domestic pepper prices are trading between 146,500 - 148,000 VND/kg, an average increase of 2,500 - 3,500 VND/kg compared to last week depending on the region.
At the end of last week, Ho Chi Minh City and Dong Nai recorded an increase of VND 2,500/kg, up to VND 146,500/kg. Meanwhile, the owner of the growing area in Gia Lai, which was the lowest area in many weeks, increased strongly to 147,000 VND/kg.
The strongest increase was in Dak Lak and Lam Dong, commonly at 148,000 VND/kg, an increase of 3,500 VND/kg compared to the previous week.
World pepper prices: Indonesia drops sharply
According to the International Pepper Company (IPC), world pepper prices have mostly decreased. The Brazilian exchange alone recorded a significant increase compared to the previous week.
In particular, the price of Indonesian black pepper decreased slightly by 4 USD/ton compared to last week, down to 7,104 USD/ton. In the same direction, the price of Indonesian white pepper decreased by 72 USD/ton last week, down to 9,673 USD/ton.
In contrast, Brazilian ASTA 570 black pepper is being offered for sale at 6,175 USD/ton. Malaysia's ASTA black and white pepper prices remained unchanged for the whole week, selling at 9,200 USD/ton and 12,300 USD/ton, respectively.
In Vietnam, the export price of black pepper also remained unchanged at 6,400-6,600 USD/ton for the 500 g/l and 550 g/l types.
Assessment and forecast
The domestic pepper market is worried about supply as key areas are heavily affected by serious floods. This factor is contributing to the price increase.
In addition, Vietnamese enterprises received information about the US tax exemption with the expectation of the recovery of the most important market in the coming time.
