中文 (中国)Today’s pepper price in Vietnam market is flat in some localities, trading from 70,000 to 72,500 VND/kg.
Specifically, today’s pepper price in Gia Lai is the lowest in the market at 70,000 VND/kg.
Pepper price today in Dong Nai provinces (70,500 VND/kg); Dak Nong, Dak Lak (71,500 VND/kg); Binh Phuoc (72,000 VND/kg) and Ba Ria – Vung Tau at the highest level is 72,500 VND/kg.
According to the World Pepper Community, the market reacted differently this week with the price of Indonesian black pepper recording the highest increase.
Meanwhile, after being reported with an uptrend for the past 2 weeks, Indian pepper prices reacted negatively this week. The reason is partly due to the weakening of the Rupee against the USD.
Contrary to that, Vietnam pepper price has been sluggish throughout the week, compared with the beginning of the week, it has decreased by 1,000-1,500 VND/kg.
In addition, as reflected by the Vietnam Pepper Producers Forum, the current domestic price of pepper is not consistent, from online reference prices to purchasing agents. Even in the same locality, agents also offer different prices.
Although Vietnam’s pepper exports to China are warming up, experts predict that pepper prices may not increase again in the short term, and may even continue to decline.
The reason is because the market is showing some factors that are detrimental to the recovery of pepper prices. The pressure of raising the monetary base interest rate forces importers not to rush to sign new contracts because inventories are still there.
Meanwhile, domestic speculators are also considering selling and cutting losses due to high interest rates. This makes the market continuously fall into a state of oversupply and lack of demand.
In particular, the closer to the end of the year, the greater the selling pressure because dealers as well as speculators holding pepper need to rotate capital to switch to the coffee crop.
Not only that, the market also faces the fear of falling demand when inflation is high in many countries around the world, especially in Europe and the US, two main markets for Vietnam’s pepper consumption.