Domestic pepper prices: "Turn around" increase sharply
As of 11am today (March 26), domestic pepper prices suddenly increased, an average increase of VND3,000/kg, bringing pepper prices back to a stable level. Currently, the purchase price ranges from 159,000 - 160,000 VND/kg. The average pepper purchase price nationwide is at 159,400 VND/kg.
Pepper prices simultaneously returned to the mark of 159,000 VND/kg in the three provinces of Gia Lai, Ba Ria - Vung Tau, Binh Phuoc, a sharp increase of 3,000 VND/kg compared to the previous trading session.
Recorded a sharp increase of VND3,000/kg, pepper purchasing prices in Dak Lak and Dak Nong provinces today are anchored at VND160,000/kg, the highest in the country.
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 186,818 VND/kg). Purchased at a price 1.37% lower, the price of white pepper announced is 10,069 USD/ton (equivalent to 259,781 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 183,180 VND/kg); the 550 g/l type is currently at 7,300 USD/ton (equivalent to 188,340 VND/kg). Similarly, the price of white pepper for export also increased to 10,100 USD/ton (equivalent to 260,580 VND/kg).
In the Indian market, pepper prices continued to remain unchanged in most pepper prices. Garbled pepper costs 67,200 rupees/kg, (equivalent to 208,609 VND/kg), Ungarbled is listed at 65.200 rupees/kg, while gram/liter has the lowest price of 64,200 rupees/kg (exchanged at 199,297 VND/kg).
Assessment and forecast
According to a report from Ptexim - a company specializing in exporting pepper and spices in Vietnam, the pepper harvest in the Central Highlands and the South is taking place vigorously. Dak Nong has harvested about 70% of the area, Dak Lak has reached 40%, Lam Dong has reached 60%, while provinces such as Gia Lai, Binh Phuoc, Dong Nai and Ba Ria - Vung Tau have harvested around 50%. Although more than half of the crop has been completed, many farmers still keep their products and are not in a hurry to sell because they expect a higher value.
For example, if farmers decided to sell to the market yesterday (March 25.) when pepper prices suddenly dropped by VND3,000/kg, the profit would be less when prices were increased again today.
Regarding market developments in the coming time, experts predict that there will be great fluctuations. Although the new crop has been launched on the market with increasing volumes, the psychology of farmers stocking goods this year has led to them limiting their sales. In the long term, the increase is still possible as consumption demand remains high and expectations are high that China will soon increase imports again.
