Domestic pepper prices
Today (August 30), domestic pepper prices are still trading in the range of 135,000 - 137,000 VND/kg, down from 1,000 - 2,000 VND/kg.
At the end of last week, Gia Lai, Dong Nai and Ho Chi Minh City all anchored at the threshold of 135,000 VND/kg, down 1,000 VND/kg compared to the closing session of the previous week.
Following the same developments, Dak Lak maintained a price of 136,500 VND/kg, down 1,500 VND/kg.
Lam Dong province is currently offering for sale to the market at the highest price of 137,000 VND/kg, down 2,000 VND/kg.
World pepper price
According to data from the International Pepper Corporation (IPC), pepper prices last week increased and decreased alternately.
Indonesian black pepper prices are currently anchored at 6.897 USD/ton, up 0.67% (equivalent to 46 USD/ton) compared to the previous week. In the same direction, Indonesian white pepper prices increased by 0.67% (63 USD/ton) last week, to 9,443 USD/ton.
In the opposite direction, Brazil's ASTA 570 black pepper price decreased by 1.69% (100 USD/ton), to 5,800 USD/ton.
Meanwhile, Malaysian black pepper still maintained stability at 9,300 USD/ton last week.
In Vietnam and Malaysia, the price of white pepper remains unchanged at 8,400 USD/ton and 12,200 USD/ton.
Assessments and forecasts
Domestic pepper price movements reflect short-term technical adjustment pressure, causing pepper growers and purchasing businesses to closely monitor supply and demand fluctuations as well as demand from international partners.
Currently, farmers are not chasing after area and output but are focusing on quality and sustainable development of pepper. In the medium and long term, risks to supply are still present as meteorological models warn that the El Nino phenomenon is likely to return with strong intensity in the coming year.
In the event of a drought scenario occurring in large pepper growing areas, productivity will continue to be threatened. In Vietnam, the challenge is even greater when a part of the current pepper garden area has entered an old stage, reducing the ability to recover output. Meanwhile, import demand from major consumption markets remains at a positive level, helping to keep world pepper prices at a high level despite the negative impacts from geopolitical conflicts.
