Domestic pepper prices: Stable in the first session of the week
As of 1:30 p.m. today (September 23), the domestic pepper market remained unchanged in the first session of the week. Currently, the purchase price of pepper is recorded at 123,000 - 125,000 VND/kg.
Key provinces and cities such as Ba Ria - Vung Tau, Binh Phuoc and Gia Lai are anchored at 123,000 VND/kg. Meanwhile, Dak Lak and Dak Nong provinces both purchased at VND125,000/kg today, despite a week of deep decline of up to VND14,000/kg.
World pepper prices: Indonesia reverses to decrease
In the world market, pepper prices are moving in the same direction as domestic pepper. In particular, the Indonesian exchange - one of the most vibrant markets - reversed and decreased prices. Currently, these two items are listed at 7,452 USD/ton (equivalent to 195,832 VND/kg), down 0.12% compared to the closing price of the week. In the same direction, white pepper decreased by 0.13%, currently listed at 10,066 USD/ton (about 264,525 VND/kg).
In Vietnam, the export price of black pepper of 500 g/l and 550 g/l fluctuated sideways, fluctuating between 6,000 - 6,100 USD/ton. ASTA white pepper prices reached 9,000 USD/ton (equivalent to 236,511 VND/kg).
The Brazilian exchange rate is stable, this region is currently at 6,050 USD/ton (about 158,988 VND/kg). Meanwhile, Malaysia's black and white pepper remained at 11,750 USD/ton and 9,000 USD/ton.
Assessment and forecast
The domestic pepper market has been stable for a long time, showing a positive signal in terms of supply-demand balance. However, experts predict that if there are no more large export orders or price increase drivers from the international market, domestic pepper prices will be somewhat sluggish in the short term.
It is forecasted that next week, pepper prices may move sideways in the range of 123,000-125,000 VND/kg if there is no big boost from export activities.
In the long-term vision in the next 1-3 months, if the Chinese and European markets boost exports again, the development tends to increase slightly.
