Domestic pepper prices: Increase again
As of 1 pm today (April 2nd), domestic pepper prices have increased compared to the closing session yesterday, averaging 139,200 VND/kg. Currently, key areas are trading in the range of 138,500 - 140,000 VND/kg.
Domestic pepper prices recorded different increases, provinces and cities in key areas listed prices as follows:
Gia Lai and Dong Nai provinces both increased by 500 VND/kg, listed at the mark of 138. 500 VND/kg.
At the same increase, Ho Chi Minh City anchored at the mark of 13,900,000 VND/kg.
Returning to the race track, Dak Lak and Lam Dong are still the 2 provinces with the highest prices with prices of 140,000 VND/kg, an increase of 1,000 VND/kg.
World pepper prices: Continuing the downward trend
In the world market, pepper prices continue to fluctuate in most countries. The Indonesian exchange - one of the most active markets - adjusted slightly down. Black and white peppers traded in the range of 7,120 - 9,381 USD/ton (equivalent to 187,684 VND/kg - 247,284 VND/kg), down 2 USD/ton and 1 USD/ton respectively.
Meanwhile, the Brazilian market unexpectedly increased by 50 USD/ton, listed at 6,150 USD/ton (about 162.114 VND/kg). Notably, black and white peppers maintained an increase of 100 - 200 USD/ton, trading at 12,200 USD/ton and 9,300 USD/ton.
In Vietnam's pepper export market, the price of black peppers of 500 g/l and 550 g/l remained unchanged, anchored at the 6,000 - 6,100 USD/ton mark. In the same direction, ASTA white pepper price offered for sale at 8,900 USD/ton (equivalent to 234,604 VND/kg).
Assessments and forecasts
The downward trend of domestic pepper prices is taking place in the short term as predicted. The Import-Export Department believes that pepper prices are likely to recover in the near future based on some important supporting factors.
First, the supply will gradually shrink after the peak harvest period. When the volume of goods sold strongly in the season has been significantly absorbed, the pressure of oversupply will decrease, thereby creating conditions for prices to stabilize and recover.
Second, import demand from the international market is forecast to improve, especially from the United States and other major markets.
Third, the market cycle factor also plays an important role. Agricultural product prices usually decrease during the harvest season and increase again when entering the pre-harvest period.
