Domestic pepper prices: All increased
As of 11:30 today (November 26), the domestic pepper market continued to increase in price, averaging 149,800 VND/kg. Currently, the price ranges from 149,500 - 150,000 VND/kg.
Key areas have increased by 1,000-2,000 VND/kg. The price list on the market in key areas is as follows:
Dak Lak, Gia Lai and Lam Dong all increased by VND 1,000/kg, bringing the market in the range of VND 149,500 - 150,000/kg.
Dong Nai and Ho Chi Minh City recorded the highest price increase of VND1,500-2,000/kg, setting the mark of VND149,500 - 150,000/kg.
World pepper prices: Developments in the same direction
In the world market, pepper prices are mostly stable in the regions. The Indonesian exchange - one of the most vibrant markets for price increases. Currently, these two items are traded between 7,126 - 9,703 USD/ton (equivalent to 188,148 VND/kg - 256,189 VND/kg).
On the other hand, the Brazilian market has maintained a stable streak, currently holding at 6,175 USD/ton (about 163,039 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 238,948 VND/kg).
Assessment and forecast
Domestic supply is currently limited, while the prolonged flood situation in the Central Highlands creates many risks to output, causing export enterprises to increase purchasing activities. Market sentiment is still leaning towards an upward trend as major importers such as the US and EU have returned to stable demand, while China continues to increase spot purchases.
Domestic pepper prices are likely to remain above 148,000 VND/kg in the coming time and may even set a new price level if floods continue to affect the harvest progress. With current supply-demand trends and a favorable export environment, Vietnamese pepper is forecast to set a new record in export value this year.
