Pepper prices today (March 14) are relatively stable.
Domestic pepper prices
According to the survey, pepper prices today fluctuate between 92,500 – 95,500 VND/kg.
Traders in most key areas are buying pepper at prices unchanged from before.
Binh Phuoc province alone decreased slightly by 500 VND/kg, currently trading at 94,500 VND/kg.
|
Province/district (survey area) |
Purchasing price (Unit: VND/kg) |
Change compared to yesterday (Unit: VND/kg) |
|
Dak Lak |
95,500 |
– |
|
Gia Lai |
92,500 |
– |
|
Dak Nong |
95,500 |
– |
|
BA Ria Vung Tau |
95,000 |
– |
|
Binh Phuoc |
94,500 |
-500 |
|
Dong Nai |
92,500 |
– |
World pepper prices
According to an update from the International Pepper Association (IPC) on March 13 (local time), the price of Lampung black pepper (Indonesia) increased by 4.54%, the price of Brazilian black pepper ASTA 570 and Kuching black pepper (Malaysia). ) ASTA remains stable compared to March 12
|
Type name |
World black pepper price list (Unit: USD/ton) |
||
|
March 12 |
March 13 |
% change |
|
|
Lampung black pepper (Indonesia) |
3,992 |
4,182 |
4.54 |
|
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 increased by 0.18%, while Malaysian ASTA white pepper prices had no new adjustments.
|
Type name |
World white pepper price list (Unit: USD/ton) |
||
|
March 12 |
March 13 |
% change |
|
|
Muntok white pepper |
6,179 |
6,190 |
0.18 |
|
ASTA Malaysian white pepper |
7,300 |
7,300 |
0 |
Pepper prices in the domestic market are continuing their upward trend in the first months of the year. In just 3 months (from December 2023), pepper prices have increased by 30%. As of the end of February, the price of black pepper increased by 10,000 – 11,000 VND/kg compared to the end of January to 91,000 – 94,000 VND/kg. The highest threshold recorded in March was 96,000 VND/kg.
Talking to us on the sidelines of the international pepper and spice conference, Ms. Hoang Thi Lien, President of the Vietnam Pepper and Spice Association (VPSA) said that pepper prices are entering an increasing cycle. However, during the upward process, pepper prices will have a few downward adjustments before increasing again.
“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,” Ms. Lien said.
However, according to her, 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 “several tens of thousands of tons” of pepper.
According to VPSA, this year’s pepper output is expected to decrease by 10% to 170,000 tons compared to last year, the lowest level in the last 5 years.
Meanwhile, the Import-Export Department (Ministry of Industry and Trade) forecasts that the global pepper market will continue to be vibrant in the near future. Due to seasonal differences, pepper prices will continue to stay at a high level for a few more months.
In countries with large pepper production, Brazil has passed the harvest season, Vietnam is now entering the harvest season, while the main harvest of Indonesia and Malaysia is in July every year. Supplies from Indonesia, Brazil, Malaysia, and Cambodia are not enough to compensate for the decrease in Vietnam’s exports, which will push pepper prices up sharply right from the beginning of the season.
According to VietnamBiz.vn
