Domestic pepper prices
Today (August 9), domestic pepper prices traded in the range of 136,000 - 149,000 VND/kg, down 2,000 VND/kg compared to last week.
At the end of last week, Gia Lai, Dong Nai and Ho Chi Minh City all anchored at the threshold of 136,000 VND/kg, down 2,000 VND/kg.
At the same decrease, Dak Lak fell to a price of 138,000 VND/kg.
Lam Dong province is currently offering to the market at the highest price of 139,000 VND/kg, down 2,000 VND/kg compared to the previous closing session.
World pepper price
According to data from the International Pepper Corporation (IPC), pepper prices last week fluctuated in opposite directions.
Indonesian black and white pepper prices last week interrupted a long series of sideways movements, currently listed at 6,822 - 9,317 USD/ton, up 62 - 23 USD/ton respectively compared to the previous closing session.
In the same direction, the price of Brazilian black pepper type ASTA 570 had a high increase week, anchored at the threshold of 5,900 USD/ton. Notably, the price of black and white pepper in Malaysia still maintained at 9,300 USD/ton and 12,200 USD/ton in the past week.
In Vietnam's pepper export market, the price of black peppers of 500 g/l and 550 g/l is currently at 5,970 - 6,050 USD/ton. Meanwhile, the price of ASTA white pepper increased by 50 USD/ton, offered for sale at 8,400 USD/ton.
Assessments and forecasts
According to the Vietnam Pepper and Spice Plant Association (VPSA), after more than 20 years of holding the position of the world's largest pepper exporter, Vietnam's pepper industry is entering a new stage of development, as the area for expanding cultivation gradually decreases sharply.
Experts also believe that in the short term, pepper prices are forecast to continue to stabilize if the world geopolitical situation does not fluctuate much. In case tensions in the Middle East are resolved, pepper prices may increase again because inventories in import markets have fallen to low levels, while supply from major producing countries is at its lowest level in many years.
