Domestic pepper prices: Reversal to increase
As of 11:30 today (November 30), domestic pepper prices are trading in the range of 150,000 - 151,000 VND/kg, an average increase of 3,000 - 4,500 VND/kg compared to last week depending on the region.
At the end of last week, Ho Chi Minh City and Dong Nai recorded an increase of VND 4,500/kg, up to VND 150,000/kg. Meanwhile, the owner of the growing area in Gia Lai, which was the lowest area in many weeks, has increased strongly by 3,500 VND/kg, to 150,500 VND/kg.
Dak Lak and Lam Dong regions increased by 3,000 VND/kg, commonly at 151,000 VND/kg.
World pepper prices: Bustling week
According to the International Pepper Company (IPC), world pepper prices have mostly increased. The Brazilian exchange in particular recorded a stable trend compared to the remaining regions.
Of which, the price of Indonesian black pepper increased by 32 USD/ton compared to last week, to 7,136 USD/ton. In the same direction, the price of Indonesian white pepper increased by 44 USD/ton last week, to 9,717 USD/ton.
In contrast, Brazilian ASTA 570 black pepper is being offered for sale at 6,175 USD/ton. Malaysia's ASTA black and white pepper prices remained unchanged for the whole week, selling at 9,200 USD/ton and 12,300 USD/ton, respectively.
In Vietnam, black pepper prices for export increased by 100 USD/ton before the closing price of the week, at 6,500-6,700 USD/ton for the 500 g/l and 550 g/l types.
Assessment and forecast
The domestic pepper market had a week of tight supply as key areas were heavily affected by serious floods. This factor is contributing to the price increase.
In addition, Vietnamese enterprises received information about the US tax exemption with the expectation of a recovery of the most important markets in the coming time such as the US, Europe and the Middle East.
