Domestic pepper prices: Increase, decrease "dizzyingly"
As of 12:00 today (September 3), the domestic pepper market reversed and decreased, an average decrease of 800 VND/kg. Currently, pepper purchasing prices are recorded at prices ranging from 144,000 - 146,000 VND/kg.
Key regions all fell by VND 1,000/kg, while Dak Nong province maintained the previous closing price of VND 145,000/kg.
World pepper prices: Green appears
In the world market, pepper prices have stabilized after a deep decline in some regions. The Indonesian exchange - one of the most vibrant markets reversed and increased slightly. Currently, these two items have increased by 0.01% and 0.04%, respectively listed at 7,428 USD/ton (equivalent to 194,837 VND/kg); white pepper is listed at 10,129 USD/ton (about 265,684 VND/kg).
In Vietnam, the export price of 500 g/l and 550 g/l black pepper is anchored at 6,500 - 6,600 USD/ton (equivalent to 170,495 - 173,118 VND/kg). ASTA white pepper prices remain unchanged at 9,500 USD/ton (about 249,185 VND/kg).
In the same direction, the Malaysia and Brazil exchanges were stable. Malaysia's white rice continues to hold the highest price globally at 11,850 USD/ton (equivalent to 310,826 VND/kg).
Assessment and forecast
The constant fluctuations in domestic pepper prices make garden owners and traders cautious in purchasing and selling.
Meanwhile, the US is still Vietnam's largest export market, accounting for 22.5% of total export turnover. However, the volume decreased sharply by 26.7%, as businesses searched for new markets to avoid high counterpart taxes from this country. India ranked second with an 8% market share, followed by the UAE and Germany, both holding 6.7%. Pepper exports to China increased sharply by 94.4%, currently accounting for 4.5% of the total market share. Other markets such as Hong Kong (China), Australia and Poland also recorded significant growth.
