Domestic pepper prices: Unexpectedly dropped
As of 11am today (March 25), domestic pepper prices have suddenly dropped sharply, an average decrease of VND3,100/kg. Currently, the purchase price ranges from 156,000 - 157,000 VND/kg. The average pepper purchase price nationwide is at 156,400 VND/kg.
Pepper prices simultaneously set the mark of 156,000 VND/kg in the three provinces of Gia Lai, Ba Ria - Vung Tau, Binh Phuoc, down 3,000 VND/kg compared to the previous trading session.
Although the different discounts are VND3,000/kg and VND3,500/kg, the pepper purchase price in Dak Lak and Dak Nong provinces today is at VND157,000/kg.
World pepper prices: Continue to plummet
According to the International Pepper Community, on trading floors, black and white pepper prices in the Indonesian market continued to fall. Black pepper prices decreased by 0.36%, fluctuating around 7,241 USD/ton (equivalent to 186,891 VND/kg). Purchased at a price 1.37% lower than yesterday (March 24), the price of white pepper announced was 10,069 USD/ton (equivalent to 259,881 VND/kg).
For the Brazilian market, the price of ASTA 570 black pepper remains at 7,000 USD/ton.
In the Malaysian market, ASTA black and white pepper prices are anchored at 9,900 USD/ton and 12,400 USD/ton, respectively.
Notably, in Vietnam, the price of black pepper for export has moved sideways. The 500 g/l type is traded at 7,100 USD/ton (equivalent to 183,251 VND/kg); the 550 g/l type is currently at 7,300 USD/ton (equivalent to 188,413 VND/kg). Similarly, the price of white pepper for export also increased to 10,100 USD/ton (equivalent to 260,681 VND/kg).
In the Indian market, pepper prices remain unchanged in most pepper cultivars. Garbled pepper costs 67,200 rupees/kg, (equivalent to 208,777 VND/kg), Ungarbled is listed at 65.200 rupees/kg, while gram/liter has the lowest price of 64,200 rupees/kg (exchanged at 199,457 VND/kg).
Assessment and forecast
According to data from the General Department of Customs, Vietnam's pepper exports in the first 15 days of March reached 8,596 tons, worth 69.8 million USD, down 26.3% in volume and up 18.8% in value over the same period in 2024.
Accumulated from January 1 to March 15, pepper exports reached 35,802 tons, worth 243.9 million USD, down 15.8% in volume but up to 39.7% in value over the same period last year.
The average export pepper price from the beginning of the year to March 15 reached 6,813 USD/ton, up 66% over the same period. In the first half of March alone, export prices reached 6,958 USD/ton, up 61.3%. This is also the highest price recorded since February 2017.
The domestic harvest is taking place at the peak stage, favorable for the harvesting process. However, the provinces in the Central Highlands region are entering the dry season, the hot weather brings many worries to farmers. That is the problem of local water shortage, the risk of drought directly affecting output.
In the short term, people have the mentality of stocking goods and waiting for prices to increase before coming to the market, causing the market to be somewhat sluggish.
