Domestic pepper prices
As of 11:30 am today (August 3), domestic pepper prices remained unchanged, listed at 139,000 VND/kg. Currently, key areas are trading in the range of 138,000 - 141,000 VND/kg.
Domestic pepper prices remain unchanged compared to the closing session last week in all regions. Currently, provinces and cities list prices as follows:
Gia Lai, Dong Nai and City. Ho Chi Minh simultaneously listed it at 138,000 VND/kg.
Similarly, Dak Lak and Lam Dong respectively offered for sale at the highest purchase price in the whole region of 141,000 VND/kg and 140,000 VND/kg.
World pepper price
In the world market, pepper prices have stagnated in all countries. Indonesia's black and white peppers are no exception, trading in the range of 6,760 - 9,317 USD/ton (equivalent to 179,073 VND/kg - 246,808 VND/kg).
Meanwhile, the price of black pepper in Brazil sold to the market is 5,700 USD/ton (about 150,993 VND/kg). Notably, black and white pepper in Malaysia are still trading at high prices, respectively 12,200 USD/ton and 9,300 USD/ton.
In Vietnam's pepper export market, the price of black pepper of 500 g/l and 550 g/l remains unchanged at 5,970 - 6,050 USD/ton. ASTA white pepper is offered for sale at 8,350 USD/ton (equivalent to 221,192 VND/kg).
Assessments and forecasts
In the first weeks of July, the average domestic pepper price was 134,200 VND/kg, 5,200 VND/kg lower than currently. The upward trend returned in the last weeks of July and anchored at a high price level compared to previous months.
The world pepper market is entering a new cycle after a long period of oversupply. Experts believe that this item is in a rebalancing phase as global supply tends to tighten.
Not only Vietnam, other major manufacturing countries such as Brazil and Indonesia also recorded significant production declines due to the negative impacts of climate change. While supply is limited, demand from major markets such as the US, Europe and the Middle East is showing signs of strong recovery leading to price adjustments.
