Domestic pepper prices: Stable week during the holiday
As of 11:30 today (May 4), domestic pepper prices are still trading in the range of 154,000 - 156,000 VND/kg, down 100 VND/kg compared to the closing price of the previous session.
At the end of last week, domestic pepper prices mainly fluctuated around 154,000 - 156,000 VND/kg, down 500 VND/kg in Gia Lai and stabilized in other localities.
At the end of the week, pepper prices in Gia Lai decreased by VND 500/kg, down to VND 154,000/kg.
Meanwhile, pepper prices in other provinces and cities are generally stable, with Dak Lak and Dak Nong both holding 156,000 VND/kg; Ba Ria - Vung Tau, Binh Phuoc and Dong Nai are simultaneously trading at 155,000 VND/kg.
World pepper prices: intertwined increases and decreases
Over the past week, Indonesian pepper prices have tended to increase, while the exchanges of Vietnam and Brazil have adjusted down.
According to data from the International Pepper Company (IPC), Indonesia's black pepper prices closed last week at 7,340 USD/ton, up a total of 3% (equivalent to 214 USD/ton) compared to last week.
In contrast, the price of Brazilian ASTA 570 black pepper decreased by 100 USD/ton compared to the closing price of the previous session, down to 6,800 USD/ton.
Similarly, the price of Vietnamese black pepper also decreased by 100 USD/ton, trading at 6,700 - 6,800 USD/ton for the 500 g/l and 550 g/l types.
In Malaysia alone, black pepper prices continued to remain stable at 9,300 USD/ton last week.
In the Indian market, pepper prices continued to remain unchanged in most pepper prices. Garbled pepper costs 67,200 rupees/kg, (equivalent to 212,762 VND/kg), Ungarbled is listed at 65.200 rupees/kg, while gram/liter has the lowest price of 64,200 rupees/kg (exchanged at 203,264 VND/kg).
Assessment and forecast
The pepper market last week did not have many fluctuations, largely thanks to increased domestic supply during the harvest season. However, experts say that the sideways trend is only temporary when the global supply-demand balance shows signs of imbalance.
The International Petroleum Corporation (IPC) forecasts that output in 2025 could fall by more than 6% amid prolonged unfavorable weather in many producing countries. India is forecast to decline the most with a decline of about 25%. Vietnam is one of the three main exporting countries that also recorded slow harvest progress and output affected by prolonged drought.
On the contrary, pepper prices in exporting countries have increased compared to the same period, bringing benefits to growers but creating cost pressure for importants and processing enterprises.
