Domestic pepper prices: Unexpected price drop
As of 11:30 today (8.), domestic pepper prices have slid after a period of stability, an average decrease of VND 5,400/kg compared to the previous trading session. Currently, pepper purchasing prices range from 148,000 - 149,000 VND/kg. The average pepper purchase price nationwide is at 148,800 VND/kg.
Purchased at the lowest price among provinces and cities is Gia Lai province, currently pepper in this area is listed at 148,000 VND/kg, down 5,000 VND/kg.
Pepper prices decreased by VND 5,000/kg and were fixed at VND 149,000/kg in the two provinces of Ba Ria - Vung Tau and Binh Phuoc.
Dak Lak and Dak Nong provinces plummeted by 6,000 VND/kg but still maintained the highest pepper purchasing position in the country, anchored at 149,000 VND/kg.
World pepper prices: flat trend
According to the International Pepper Community, on the exchanges, the price of black and white pepper in the Indonesian market is stable. Black pepper prices fluctuated around 7,239 USD/ton (equivalent to 189,156 VND/kg). The price of white pepper announced is 10,066 USD/ton (equivalent to 263,025 VND/kg).
For the Brazilian market, the price of ASTA 570 black pepper is anchored at 6,950 USD/ton.
In the Malaysian market, ASTA black and white pepper prices are anchored at 9,850 USD/ton and 12,300 USD/ton, respectively.
Notably, Vietnam's black pepper export price has moved sideways. The 500 g/l type is traded at 7,100 USD/ton (equivalent to 185,523 VND/kg); the 550 g/l type is currently at 7,300 USD/ton (equivalent to 190,749 VND/kg). Similarly, the price of white pepper for export fluctuates around 10,100 USD/ton (equivalent to 263,913 VND/kg).
In the Indian market, pepper prices continued to remain unchanged in most pepper prices. Garbled pepper costs 67,200 rupees/kg, (equivalent to 210,511 VND/kg), Ungarbled is listed at 65.200 rupees/kg, while gram/liter has the lowest price of 64,200 rupees/kg (exchanged at 201,113 VND/kg).
Assessment and forecast
According to preliminary statistics from the Vietnam Pepper and Spices Association (VPSA), in March, Vietnam exported 20,244 tons of pepper of all kinds, with a turnover of 141.6 million USD. Compared to February, exports increased by 41.3%, turnover increased by 45.6%. Compared to the same period last year, exports decreased by 21.2%, however, turnover increased by 27.9%.
The average export price of black pepper in March reached 6,790 USD/ton, white pepper reached 8,802 USD/ton, up 122 USD for black pepper and 268 USD for white pepper compared to the previous month.
Vietnam is the largest pepper supplier to the US market, accounting for 77% of the total amount of pepper imported by the country. On the other hand, the US is also the largest export market for Vietnamese pepper.
The Vietnamese pepper industry is still waiting for detailed information on import tariff policies to have specific solutions. However, the US only imposes a 10% tax on Brazil while Vietnam is 46%. This not only negatively affects export enterprises and Vietnamese pepper processing factories but also affects pepper farmers in the Central Highlands, Southeast, etc.
