Domestic pepper prices: Standing still after a sharp increase
As of 1:30 PM today (January 7), domestic pepper prices have been uniformly unchanged in all areas, averaging at 151,500 VND/kg. Currently, key areas are trading in the range of 151,000 - 152,500 VND/kg.
After the high increase, the pepper price list of regions is as follows:
Gia Lai and Dong Nai provinces listed at prices of 150,000 VND/kg and 150,000 VND/kg respectively.
Ho Chi Minh City is anchored at the threshold of 151,500 VND/kg.
Dak Lak and Lam Dong are the two provinces with the highest prices, offering to the market at the milestone of 152,500 VND/kg.
World pepper prices: Continuing the downward trend
In the world market, pepper prices slipped in some countries. The Indonesian exchange - one of the most vibrant markets - continued to fall in price. These two items traded in the range of 6,746 - 9,182 USD/ton (equivalent to 177,946 VND/kg - 242,203 VND/kg), down 15 USD/ton and 12 USD/ton respectively.
Meanwhile, the Brazilian market increased by 50 USD/ton, currently at 6,150 USD/ton (about 162,225 VND/kg). In the opposite direction, black and white pepper traded at 12,000 USD/ton and 9,000 USD/ton.
Notably, in Vietnam's pepper export market, the price of black pepper of 500 g/l and 550 g/l maintains a price range of 6,500 - 6,700 USD/ton. The current ASTA white pepper price is at 9,250 USD/ton (equivalent to 243,997 VND/kg).
Perspectives and forecasts
Although standing still, the domestic pepper price has now set a new price level after many months of trading below the threshold of 150,000 VND/kg.
The strong increase in domestic pepper prices despite many fluctuations in the world market shows that the internal strength of Vietnam's pepper industry is stable. Farmers' psychology of keeping goods combined with information that new crop output may decrease due to the weather is a solid "springboard" for pepper prices.
It is forecasted that in the coming days, prices may continue to test higher levels, towards the price range of 155,000 VND/kg before the Lunar New Year holiday.
