Domestic pepper prices: Sideways
As of 12:30 PM today (March 23), domestic pepper prices remained unchanged, averaging 135,500 VND/kg. Currently, key areas are trading in the range of 135,000 - 136,000 VND/kg.
Domestic pepper prices stagnated after a week of sharp decline, specifically as follows:
Gia Lai and Dong Nai provinces both listed at the mark of 135,000 VND/kg.
Dak Lak and Lam Dong recorded the highest price of 136,000 VND/kg.
Meanwhile, Ho Chi Minh City stands at the milestone of 135. 500 VND/kg.
World pepper prices: Unchanged in the first session of the week
In the world market, pepper prices remained unchanged compared to the previous closing session. The Indonesian exchange - one of the most vibrant markets is no exception. Black and white peppers traded in the range of 6, 994 - 9, 260 USD/ton (equivalent to 184, 215 VND/kg - 243, 900 VND/kg).
The Brazilian market is listed at the mark of 6,050 USD/ton (about 159,351 VND/kg). Notably, black and white peppers maintained an increase of 100 USD/ton for many days, trading at 12,100 USD/ton and 9,100 USD/ton.
In Vietnam's pepper export market, black pepper prices of 500 g/l and 550 g/l are anchored at 6,300 - 6,400 USD/ton. Meanwhile, ASTA white pepper price remains unchanged, offered for sale at 9,050 USD/ton (equivalent to 238,368 VND/kg).
Assessments and forecasts
The main trend of the current pepper market is deep decline, reflecting the clear increase in selling pressure. The price decrease is mainly due to abundant supply when entering the peak harvest season.
According to experts, tensions in the Middle East, especially related to Iran, could affect global pepper trade. The UAE is currently the second largest pepper import market from Vietnam and Brazil.
Therefore, instability in this region may cause trade through the Middle East to decline. In addition, disruptions to sea transport routes through the Strait of Hormuz may increase transportation costs and extend delivery times to markets such as Europe.
