Domestic pepper prices: Second day of reversal and price drop
As of 12:30 today (September 4), the domestic pepper market continued to move in a downward direction, with an average decrease of 800 VND/kg. Currently, the price of pepper is recorded at 139,000 - 144,000 VND/kg.
Gia Lai province, after keeping prices unchanged, today slid by VND 1,000/kg, anchored at VND 139,000/kg.
All decreased by VND 1,000/kg, Dong Nai and Ho Chi Minh City reached VND 140,000/kg.
Notably, Lam Dong province remained unchanged at VND 140,000/kg, while Dak Lak decreased by VND 1,000/kg, standing at VND 144,000/kg.
World pepper prices: Stable in many regions
In the world market, pepper prices remain unchanged in most areas. The Indonesian exchange - one of the most vibrant markets for real estate. Currently, these two items are traded between 7,539 - 10,184 USD/ton (equivalent to 198,804 VND/kg - 268,553 VND/kg).
In Vietnam, the export price of black pepper of 500 g/l and 550 g/l is stable, currently anchored at 6,240 - 6,370 USD/ton. ASTA white pepper prices reached 8,950 USD/ton (equivalent to 236,012 VND/kg).
The Brazilian exchange alone increased by 3.2%, this region is currently at 6,250 USD/ton (about 164,813 VND/kg). Meanwhile, Malaysia's black and white pepper remained at 11,750 USD/ton and 8,900 USD/ton.
Assessment and forecast
The main reason for pepper prices to decrease is said to be due to profit-taking pressure from farmers and traders after a long series of price increases. In recent days, when pepper prices have approached VND150,000/kg, many producing households have taken advantage of selling to take advantage of high prices, thereby causing short-term supply to increase sharply. This creates pressure on domestic market prices.
