Domestic pepper prices: Standing at high prices
As of 11:30 today (November 4), the domestic pepper market increased by 200 VND/kg, an average of 146,800 VND/kg. Currently, the price ranges from 146,000 - 148,000 VND/kg.
Stable areas at the beginning of the week, except for Gia Lai province and Ho Chi Minh City:
Gia Lai province and Ho Chi Minh City both increased by 500,000 VND/kg, launching on the market at 146,000 VND/kg. However, this is still the lowest price in the region.
Pepper prices in Dong Nai today remain unchanged, reaching 146,000 VND/kg.
Recorded the highest price in the region are Lam Dong and Dak Lak provinces when setting the price of 148,000 VND/kg.
World pepper prices: Red appears
In the world market, pepper prices are mostly stable in the regions. In particular, the Indonesian exchange - one of the most vibrant markets - reversed and decreased after many days of increase. Currently, these two items are traded between 7,128 - 9,772 USD/ton (equivalent to 187,802 VND/kg - 257,463 VND/kg), down 1.19% and 2.99%, respectively.
On the other hand, the Brazilian market is flat, currently holding at 6,100 USD/ton (about 160,717 VND/kg). In the same direction, black and white pepper remained unchanged, trading at 12,300 USD/ton and 9,200 USD/ton.
In the pepper export market of Vietnam, the price of black pepper of 500 g/l and 550 g/l is flat, anchored at 6,400 - 6,600 USD/ton. ASTA white pepper prices remain high, currently standing at 9,050 USD/ton (equivalent to 238,441 VND/kg).
Assessment and forecast
The main reason for the increase in domestic pepper prices in recent times is that supply is still limited when the new crop has not yet begun to harvest. Meanwhile, the demand for year-end delivery increased, especially the group of businesses that have signed spot delivery contracts. The price range from 146,000-148,000 VND/kg will still be maintained in unfavorable weather conditions and export prices will remain stable.
On the other hand, beautiful and sunny weather conditions and a smooth harvest will bring abundant supply, leading to a new adjustment.
