Domestic pepper prices: Adjusted upwards
As of 11:15 am today (March 24), domestic pepper prices have rebounded, averaging 137,900 VND/kg. Currently, key areas are trading in the range of 137,000 - 139,000 VND/kg.
Domestic pepper prices, after a series of days of holding prices at a low level, have had a rebound, specifically as follows:
Gia Lai and Dong Nai provinces both listed at the mark of 137,000 VND/kg, an increase of 2,000 VND/kg.
With the same increase, Ho Chi Minh City raised the price to 137,500 VND/kg.
Notably, Dak Lak and Lam Dong recorded the highest price of 139,000 VND/kg, an increase of 3,000 VND/kg.
World pepper prices: Sideways day streak
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, 250 VND/kg - 243, 946 VND/kg).
The Brazilian market is listed at 6,050 USD/ton (about 159.382 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 238.414 VND/kg).
Assessments and forecasts
After a series of days of hitting record lows, domestic pepper prices have rebounded. According to experts, the adjustment of pepper prices after many stable sessions is a signal that the market is looking for a balanced point.
Last week, the domestic pepper market declined due to increased supply from the new harvest, but it is still not balanced with the increase in demand. Many farmers are selling sparingly to compensate for costs and labor, so supply will still be limited, contributing to keeping prices at a high level.
