Domestic pepper prices
Today (August 2), domestic pepper prices traded in the range of 138,000 - 141,000 VND/kg, an increase of 500 VND/kg compared to last week.
At the end of last week, Gia Lai, Dong Nai and Ho Chi Minh City all anchored at the threshold of 138,000 VND/kg, an increase of 500 VND/kg.
Dak Lak continues to maintain the price of 140,000 VND/kg.
Meanwhile, Lam Dong is the only province that slightly reduced by 500 VND/kg, offering to the market at a price of 141,000 VND/kg.
World pepper price
According to data from the International Pepper Corporation (IPC), pepper prices last week fluctuated in opposite directions.
Indonesian black and white pepper prices last week interrupted a long series of sideways movements, currently listed at 6,760 - 9,317 USD/ton, down 63 - 87 USD/ton respectively compared to the previous closing session.
In the same direction, the price of Brazilian black pepper type ASTA 570 decreased by 100 USD/ton, anchored at the threshold of 5,700 USD/ton. Notably, the price of black and white pepper Malaysia still anchored at 9,300 USD/ton and 12,200 USD/ton in the past week.
In Vietnam's pepper export market, the price of black peppers of 500 g/l and 550 g/l is currently at 5,970 - 6,050 USD/ton. Meanwhile, the price of ASTA white pepper increased by 100 USD/ton, offered for sale at 8,350 USD/ton.
Assessments and forecasts
The simultaneous decrease in pepper prices in the last days of the week shows that the market is slowing down after a period of continuous increase, exceeding the 140,000 VND/kg mark. When the price level had increased sharply before, the adjustment pressure was technical.
Despite the downward adjustment, domestic pepper prices are still standing in a relatively high range. The level of 138,000 - 141,000 VND/kg is still a positive level compared to many previous periods, thereby helping growers maintain a fairly stable psychology.
According to analysts, in the short term, the market's direction will continue to depend on actual purchasing demand, export delivery progress and the quantity of inventory at cultivated gardens. If purchasing power has not improved significantly, pepper prices may still be fluctuating around the current area.
