Domestic pepper prices: Extending the increase
As of 1:30 p.m. today (November 24), the domestic pepper market continued to increase in price, averaging VND 148,400/kg. Currently, the price ranges from 147,500 - 149,000 VND/kg.
Key areas have increased by 1,000-1,500 VND/kg. The price list on the market in key areas is as follows:
Dong Nai put on the market a price of 147,500 VND/kg, an increase of 1,000 VND/kg. This is also the lowest price in the region.
Meanwhile, Gia Lai and Ho Chi Minh City are trading around 148,000 - 148,300 VND/kg, increasing by 1,300 VND/kg and 1,500 VND/kg respectively.
Dak Lak and Lam Dong provinces are still the regions with the highest prices, although they have only increased by VND 1,000/kg, setting the mark of VND 149,000/kg.
World pepper prices: Unchanged on the first day of the week
In the world market, pepper prices are mostly stable in the regions. In particular, the Indonesian exchange - one of the most vibrant markets - maintained its upward momentum. Currently, these two items have increased by 0.13%, trading in the range of 7,104 - 9,673 USD/ton (equivalent to 187,489 VND/kg - 255,290 VND/kg).
On the other hand, the Brazilian market has maintained a stable streak, currently holding at 6,175 USD/ton (about 162,971 VND/kg). Meanwhile, black and white pepper remained unchanged, trading at 12,300 USD/ton and 9,200 USD/ton.
In the pepper export market of Vietnam, the price of black pepper of 500 g/l and 550 g/l is flat, anchored at 6,400 - 6,600 USD/ton. ASTA white pepper prices remain high, currently standing at 9,050 USD/ton (equivalent to 238,848 VND/kg).
Assessment and forecast
The direct reason for the continued high price is due to 2 factors. Firstly, unfavorable weather, heavy rain and flooding in some South Central and Central Highlands provinces have slowed down the progress of harvesting, drying and transportation, reducing the amount of standard export goods in the short term. This makes the available supply in the market more limited than expected.
Second, export demand remains strong as businesses say demand from the US, UAE, Europe and some Asian markets remains stable, even increasing when some tax barriers are adjusted, increasing purchasing power by the end of the year. The resonance between limited supply and high demand has created a premise for holding prices in the range of 147,500-148,000 VND/kg
