Domestic pepper prices: A series of days of stagnation
As of 11:30 AM today (May 28), domestic pepper prices continued to remain unchanged, averaging 139,400 VND/kg. Currently, key areas are trading in the range of 137,000 - 142,000 VND/kg.
Domestic pepper prices have remained in the low price range for many days now, currently the listed prices in regions are as follows:
Gia Lai province traded at the threshold of 137,000 VND/kg.
Dong Nai and Ho Chi Minh City listed prices at 137,000 VND/kg and 139,000 VND/kg, respectively.
Meanwhile, Dak Lak and Lam Dong remained unchanged, offering for sale at the highest purchase price of 142,000 VND/kg.
World pepper prices: Stabilized after a day of fluctuations
In the world market, pepper prices are stable after increasing and decreasing alternately in countries. The two items of black and white pepper in Indonesia are no exception, trading in the range of 7,190 - 9,280 USD/ton (equivalent to 189,766 VND/kg - 244,928 VND/kg).
The Brazilian market maintained a decrease of 50 USD/ton after many days of listing at high prices, down to the 6,200 USD/ton mark (about 163,637 VND/kg). Notably, black and white pepper still maintained the increase of 50 USD/ton, trading at the 12,250 USD/ton and 9,350 USD/ton marks.
In Vietnam's pepper export market, the price of black pepper of 500 g/l and 550 g/l remains unchanged at 6,100 - 6,200 USD/ton. In the same direction, ASTA white pepper is offered for sale at 9,000 USD/ton (equivalent to 237,537 VND/kg).
Assessments and forecasts
Supply from this year's harvest is somewhat limited while international demand is maintained steadily, which is the fulcrum for a series of price increases. However, the trading atmosphere is quiet as farmers still keep goods, do not sell massively, waiting for a breakthrough increase.
Data from the Vietnam Pepper and Spice Plant Association shows that in the first 4 months of the year, exports of the whole industry increased by about 20% in volume and increased by 10-15% in value. The US market alone still recorded a growth rate of about 40%. This shows that market demand for Vietnam's spice industry is still very large. Vietnam still plays an important role in the world market for many items such as pepper, cinnamon and other spice products.
