Domestic pepper prices: Reversal to increase
As of 11:30 today (7.7), the domestic pepper market has turned to increase in most areas, an average increase of 1,000 VND/kg compared to the closing price of last week's session. Currently, pepper purchasing prices are recorded at 140,000 - 144,000 VND/kg.
Gia Lai province today increased by VND 1,000/kg, anchored at VND 140,000/kg.
Ho Chi Minh City increased by VND 2,000/kg, bringing the price up to VND 142,000/kg.
Dong Nai and Lam Dong province reached 141,000 VND/kg, both increasing by 1,000 VND/kg. Notably, Dak Lak kept the same price as last week but was still the province with the largest pepper purchasing price in the country at 144,000 VND/kg.
World pepper prices: Stable on the first day of the week
In the world market, pepper prices increased slightly in some regions. The Indonesian exchange - one of the most vibrant markets turned to increase slightly by 0.03%. Currently, these two items are traded between 7,541 - 10,187 USD/ton (equivalent to 198.480 VND/kg - 268,122 VND/kg).
The Brazilian exchange also recorded an increase of 3.2%, this region is currently at 6,250 USD/ton (about 164,500 VND/kg). Meanwhile, Malaysia's black and white pepper remained at 11,750 USD/ton and 8,900 USD/ton.
Meanwhile, 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 235,564 VND/kg).
Assessment and forecast
The psychology of hoarding goods at high prices has contributed to reducing short-term supply to the market. However, in the world market, pepper prices are still under pressure due to the strong USD, increased armed conflicts and increased logistics costs.
In the long term, supply from Brazil and Indonesia will play an important role in price movements. Indonesia is expected to start harvesting from July, while Brazil will enter the next harvest in the middle of this year. These factors may continue to put pressure on the market if supply increases rapidly in the coming time.
