Domestic pepper prices: Rise
As of 11:30 am today (March 27), domestic pepper prices have rebounded, averaging 139,600 VND/kg. Currently, key areas are trading in the range of 138,500 - 141,000 VND/kg.
Domestic pepper prices stop their stagnant days, provinces and cities in key areas list prices as follows:
Gia Lai and Dong Nai provinces increased by 1,500 VND/kg, both listed at the mark of 138,500 VND/kg.
Ho Chi Minh City increased by 1,500 VND/kg, anchored at the mark of 139,000 VND/kg.
Notably, Dak Lak and Lam Dong are currently the provinces with the highest price of 141,000 VND/kg, an increase of 2,000 VND/kg.
World pepper prices: Not much fluctuation
In the world market, pepper prices continue to remain unchanged compared to the previous closing session. The Indonesian exchange - one of the most vibrant markets is no exception. Black and white peppers are traded in the range of 6,994 - 9,260 USD/ton (equivalent to 184,441 VND/kg - 2,44,066 VND/kg).
The Brazilian market is listed at 6,050 USD/ton (about 159,460 VND/kg). Notably, black and white pepper kept increasing from 100 - 200 USD/ton, trading at 12,200 USD/ton and 9,300 USD/ton.
In Vietnam's pepper export market, black pepper prices of 500 g/l and 550 g/l are anchored at 6,300 - 6,400 USD/ton. Meanwhile, ASTA white pepper price remains unchanged, offered for sale at 9,050 USD/ton (equivalent to 238,531 VND/kg).
Assessments and forecasts
Many pepper growing areas at this time have passed the peak harvest season, and the amount of new goods released to the market is gradually decreasing. At the same time, farmers tend to keep goods waiting for higher prices instead of selling them as in the previous period, causing short-term supply to be tightened.
In addition, demand from the export market shows signs of recovery. Businesses are starting to increase purchases to meet signed orders as well as prepare for new contracts, especially when demand from major markets such as the US and Europe is gradually stabilizing again. This creates a direct push for domestic purchase prices.
