Update domestic pepper prices
Pepper prices this week increased slightly in some places. Compared to the beginning of the week, purchasing prices in some key provinces increased by 500 VND/kg.
Through the survey, the two provinces of Gia Lai and Dong Nai have the lowest pepper price of 93,000 VND/kg after an increase of 500 VND/kg.
Traders in Dak Lak, Dak Nong and Binh Phuoc bought pepper at the highest price of 95,000 VND/kg, an increase of 500 VND/kg – equal to the price in Ba Ria Vung Tau.
Update pepper information
The increase in raw pepper prices is putting pressure on export businesses as orders must be signed in advance. Many businesses also predict that 2024 will continue to be a year of fluctuations for the pepper market, pepper prices will increase.
“From December 2023, pepper prices increased dramatically and continued until now. This makes many households not want to sell and wait for prices to increase. This is difficult for companies in purchasing,” Prosi Thang Long representative shared.
This person said her company is waiting for goods in this year’s pepper harvest and is preparing for export plans.
“We will not speculate too much and only purchase at market prices. At the same time, Prosi will prioritize signing short-term futures contracts and only sign long-term futures contracts with long-term customers,” Ms. Huyen said.
Recommendations to businesses, VPSA Chairman said that businesses need to adjust so that the import and selling prices have similar increases to avoid price risks. If domestic pepper prices increase, businesses need to increase export prices correspondingly.
“If these two prices are not guaranteed to increase appropriately, businesses will have to bear the risk because they must ensure to maintain reputation and secure orders,” Ms. Lien said.
She suggested that businesses can buy slowly, a little each day, avoiding too much rush, otherwise it will affect prices when there are large orders, creating additional scarcity.
According to VietnamBiz.vn
