Domestic pepper prices are stable
As of 11am today (March 29), domestic pepper prices continue to move sideways, currently the purchase price fluctuates between 159,000 - 160,000 VND/kg. The average pepper purchase price nationwide is at 159,400 VND/kg.
Pepper prices were simultaneously stable at 159,000 VND/kg in the three provinces of Gia Lai, Ba Ria - Vung Tau, Binh Phuoc, unchanged at the end of the week.
Dak Lak and Dak Nong provinces are still the two provinces with the highest pepper purchasing prices in the country today, anchored at 160,000 VND/kg.
World pepper prices: Unchanged after a series of slight increases
According to the International Pepper Community, on the exchanges, the price of black and white pepper in the Indonesian market is stable. Black pepper prices fluctuated around 7,239 USD/ton (equivalent to 186,477 VND/kg). The price of white pepper announced is 10,066 USD/ton (equivalent to 259,301 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 182,896 VND/kg); the 550 g/l type is currently at 7,300 USD/ton (equivalent to 188,048 VND/kg). Similarly, the price of white pepper for export also increased to 10,100 USD/ton (equivalent to 260,176 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 208,032 VND/kg), Ungarbled is listed at 65.200 rupees/kg, while gram/liter has the lowest price of 64,200 rupees/kg (exchanged at 198.744 VND/kg).
Assessment and forecast
According to experts, the global pepper market is facing a shortage of supply due to unfavorable weather in major producing countries such as Brazil and Indonesia. The global pepper output in 2023 is forecast to reach only about 520,000 tons, while consumption demand will reach 530,000 tons, leading to a shortage of supply and reserves.
There are still some important factors that can strongly affect the pepper market in the coming time. Typically, there is a change in demand from the Chinese market and the trend of farmers holding more goods.
