Domestic pepper prices
As of 11:30 am today (July 23), domestic pepper prices suddenly surged, listed at 138,800 VND/kg, a slight increase of 400 VND/kg. Currently, key areas are trading in the range of 137,500 - 141,000 VND/kg.
Domestic pepper prices cut off a 3-day consecutive standstill streak, simultaneously slightly increasing by 500 VND/kg. Currently, provinces and cities list prices as follows:
Gia Lai and Dong Nai simultaneously listed at 137,500 VND/kg, an increase of 500 VND/kg.
In the same direction, pepper prices in Ho Chi Minh City increased by 500 VND/kg, anchored at the threshold of 138,000 VND/kg.
Meanwhile, Dak Lak is the only area that remained unchanged compared to the previous closing session, putting it on the market at a price of 140,000 VND/kg. Lam Dong province is currently the area offering for sale with the highest purchase price in the whole region of 141,000 VND/kg.
The slight increase in today's trading session has helped narrow the price range to 2,100 VND/kg compared to the same period in June.
World pepper price
In the world market, pepper prices also adjusted in some countries. Indonesian black pepper and white pepper are no exception, trading in the range of 6,823 - 9,336 USD/ton (equivalent to 180,810 VND/kg - 249,206 VND/kg), increasing by 50 USD/ton and 68 USD/ton respectively.
Meanwhile, the price of black pepper in Brazil continued to decrease by 100 USD/ton, selling to the market at 5,700 USD/ton (about 151,050 VND/kg). Notably, black and white pepper in Malaysia are still trading at high prices, respectively 12,200 USD/ton and 9,300 USD/ton.
In Vietnam's pepper export market, black pepper prices of 500 g/l and 550 g/l remained unchanged at 5,970 - 6,050 USD/ton. In the same direction, ASTA white pepper price offered for sale at 8,250 USD/ton (equivalent to 218,625 VND/kg).
Assessments and forecasts
Speculative buying when prices fall, along with the limited supply of new raw materials, has helped domestic pepper prices not adjust in the direction of a sharp decrease in the past month. At this time, the domestic harvest season has ended, while harvesting activities in Indonesia and Southeast Brazil have not yet entered the peak period. Therefore, the volume of new goods put on the market is still limited, creating a certain support for pepper prices in the context of unclear demand recovery.
Regarding weather conditions, Harris Spice Spice Company said that rain has appeared in all pepper growing areas of Vietnam. However, initial reports show that the accumulated rainfall from the beginning of the year to now is generally still at a level close to the multi-year average.
This means that the current weather conditions have not caused unusual impacts on domestic pepper material areas, and at the same time create a favorable foundation for the growth process of pepper plants after harvest.
