Domestic pepper prices: Sharp decrease across the board
As of 1:00 p.m. today (February 25), domestic pepper prices continued to decline sharply compared to the previous trading session, an average decrease of VND 1,600/kg. Currently, the purchase price ranges from 157,000 - 160,000 VND/kg. The average pepper purchase price nationwide remains at 158,200 VND/kg.
Ba Ria - Vung Tau, Binh Phuoc and Gia Lai are the 3 provinces that have all decreased sharply by 2,000 VND/kg, currently anchored at 157,000 VND/kg.
In the same direction, Dak Lak province recorded fluctuations when garden owners in this area sold to the market at 160,000 VND/kg, down 1,000 VND/kg. With this price, Dak Lak and Dak Nong provinces maintain their leading position among the provinces and cities with the highest purchasing prices in the country.
World pepper prices: Mixed developments
According to the International Pepper Community, on the exchanges, the price of black and white pepper in the Indonesian market has moved in the opposite direction. Black pepper prices increased by 0.94%, selling on the market at 7,356 USD/ton (equivalent to 188,829 VND/kg). On the contrary, white pepper prices decreased slightly by 0.02%, listed at 10,125 USD/ton (equivalent to 259,909 VND/kg).
For the Brazilian market, the price of ASTA 570 black pepper traded in the middle of the week was at 6,800 USD/ton.
In the Malaysian market, ASTA black and white pepper prices remained unchanged, anchored at 9,500 USD/ton and 12,000 USD/ton, respectively.
In Vietnam, the export price of black pepper is unchanged, with 500 g/l traded at 6,500 USD/ton (equivalent to 166,855 VND/kg); 550 g/l is at 6,650 USD/ton (equivalent to 170,706 VND/kg). Similarly, the price of white pepper for export is at 9,550 USD/ton (equivalent to 245,149 VND/kg).
In the Indian market, pepper prices remained unchanged in most pepper varieties. Garbled pepper costs 67,200 rupees/kg, (equivalent to 204.840 VND/kg), Ungarbled is listed at 65.200 rupees/kg, while gram/liter has the lowest price of 64,200 rupees/kg (exchanged at 195.695 VND/kg).
Assessment and forecast
Currently, pepper in the province is entering the harvest season, but the harvest is not much. Because this is the early stages of the crop, transactions have not been bustling. This year's output is expected to decrease due to unfavorable weather factors and reduced cultivation areas.
When pepper prices are low and investment costs are high, farmers are unable to store pepper, so they often sell it to traders. Currently, pepper prices are rising, farmers only need to sell small amounts to cover their expenses. Therefore, pepper storage activities are increasing with the expectation that pepper prices may increase in the coming time.
