Domestic pepper prices: All increase again
As of 12:15 today (6.25), the domestic pepper market has turned green, with an average increase of 1,200 VND/kg. Currently, the purchase price of pepper is recorded at 124,000 - 126,000 VND/kg.
The two provinces of Gia Lai and Ba Ria - Vung Tau simultaneously increased by VND 1,000/kg, bringing the price to VND 124,000/kg.
Notably, Binh Phuoc recorded the strongest increase today at VND 2,000/kg, standing at VND 125,000/kg.
Meanwhile, Dak Lak and Dak Nong provinces have risen to the top of the provinces with the highest pepper purchasing prices in the country at 126,000 VND/kg.
World pepper prices: intertwined increases and decreases
In the world market, pepper prices are moving in the same direction as domestic pepper. The Indonesian exchange - one of the most vibrant markets is no exception. Currently, these two items have increased by 0.7% and 0.69% for black pepper and white pepper, respectively, bringing the trading price to around 7,465 USD/ton (equivalent to 196,382 VND/kg) - 10,084 USD/ton (about 265,280 VND/kg).
In Vietnam, the export price of black pepper of 500 g/l and 550 g/l fluctuated in a slight downward trend, fluctuating between 5,800 - 5,900 USD/ton. ASTA white pepper prices reached 8,800 USD/ton (equivalent to 231,502 VND/kg).
In the same direction, the Brazilian exchange fell sharply by 0.85%, this region is currently at 5,850 USD/ton (about 153,890 VND/kg). Meanwhile, Malaysia's black and white pepper remained at 11,750 USD/ton and 9,000 USD/ton.
Assessment and forecast
The return of green after a series of deep price drops is one of the positive signals for the development of pepper products in particular and the spice industry in general.
Recently, the International Pepper Association (IPC) has held many exchanges with the American Spices Association (ASTA) to strengthen the sustainable cooperative relationship between the two sides. One of the notable events was the online meeting held on June 12, connecting Jakarta (Indonesia) and Washington D.C. (USA), with the participation of Ms. Marina Novira Ang Graini - CEO of IPC and Ms. Laura Shumow - CEO of ASTA.
Although it is just an online exchange, the cooperation commitments and common goals of the two organizations remain strong, focusing on promoting fair trade and sustainable development for the global spice industry.
