Domestic pepper prices
According to the survey, pepper prices today increased again by 500 VND/kg in some places.
Specifically, Dak Lak and Dak Nong both adjusted their trading to the highest level of 95,500 VND/kg.
Ba Ria – Vung Tau raised pepper prices to 95,000 VND/kg.
Meanwhile, traders in Gia Lai and Dong Nai continue to buy pepper at the unchanged price of 92,500 VND/kg.
Binh Phuoc province is still anchored at 94,500 VND/kg.
The current pepper price is fluctuating between 92,500 – 95,500 VND/kg.
|
Province/district (survey area) |
Purchasing price (Unit: VND/kg) |
Change compared to yesterday (Unit: VND/kg) |
|
Dak Lak |
95,500 |
+500 |
|
Gia Lai |
92,500 |
– |
|
Dak Nong |
95,500 |
+500 |
|
BA Ria Vung Tau |
95,000 |
+500 |
|
Binh Phuoc |
94,500 |
– |
|
Dong Nai |
92,500 |
– |
World pepper prices
According to an update from the International Pepper Association (IPC) on March 22 (local time), the price of Lampung black pepper (Indonesia) decreased by 0.7%, the price of Brazilian black pepper ASTA 570 and Kuching black pepper (Malaysia). ) ASTA also remained stable compared to March 21
|
Type name |
World black pepper price list (Unit: USD/ton) |
||
|
March 21 |
March 22 |
% change |
|
|
Lampung black pepper (Indonesia) |
4,305 |
4,275 |
-0.7 |
|
Brazilian black pepper ASTA 570 |
4,100 |
4,100 |
0 |
|
Kuching black pepper (Malaysia) ASTA |
4,900 |
4,900 |
0 |
At the same time of the survey, Muntok white pepper prices decreased by 0.71%, while Malaysian ASTA white pepper prices had no new adjustments.
|
Type name |
World white pepper price list (Unit: USD/ton) |
||
|
March 21 |
March 22 |
% change |
|
|
Muntok white pepper |
6,263 |
6,219 |
-0.71 |
|
ASTA Malaysian white pepper |
7,300 |
7,300 |
0 |
Domestic pepper prices have continuously increased since December last year until now. As of March 18, black pepper prices in the Central Highlands provinces fluctuated at 93,500 – 95,500 VND/kg, up 15 – 16% compared to the end of last year and up 45 – 47% (30,000 VND/kg) compared to same period (Chart 13). Thus, domestic pepper prices are currently at their highest level since 2017.
Export businesses are actively buying to fulfill spot orders in the first quarter of 2024 to different markets such as the US, EU, Asia and Africa.
However, due to high pepper prices, farmers have the mentality of holding stock waiting for higher prices. On the other hand, this year the number of farming households affected by daily selling pressure is much less than in previous years. Because most pepper growers now grow durian, coffee or have other income.
The Vietnam Pepper and Spice Association (VPSA) said pepper prices are entering an increasing cycle. However, during the upward process, pepper prices will have a few downward adjustments before increasing again.
According to VPSA, when pepper prices increase to a certain level, they will reach a “saturation” point, and all market participants will be satisfied. At that time, pepper prices will adjust. However, the gap between supply and demand may cause pepper prices to continue to increase in the near future. The decrease in pepper supply from Vietnam and other major countries in the world caused a deficit in the global market of tens of thousands of tons of pepper.
According to VietnamBiz.vn
