Pepper Prices Surge in Domestic Market

As of September 7, pepper prices in the domestic market have seen a significant increase, ranging from 153,000 to 154,000 VND/kg, with a sharp rise of 3,500 to 4,000 VND/kg in the Central Highlands provinces.

In the domestic market, Dak Lak pepper prices have reached 154,000 VND/kg, a 4,000 VND/kg increase compared to the previous day. Meanwhile, Chu Se pepper prices in Gia Lai have reached 153,000 VND/kg, with a 3,500 VND/kg increase. Dak Nong pepper prices have also surged to 154,000 VND/kg.

In the Southeast region, pepper prices have seen a sharp increase of 3,000 to 4,000 VND/kg compared to the previous day. Specifically, Ba Ria – Vung Tau has seen a price of 154,000 VND/kg, a 4,000 VND/kg increase, while Binh Phuoc has reached 153,000 VND/kg, with a 3,000 VND/kg increase.

Global Pepper Market Update

According to the International Pepper Community (IPC), the latest trading session saw Indonesian Lampung black pepper prices at 7,578 USD/ton, a 0.75% increase, and Muntok white pepper prices at 8,923 USD/ton, a 0.77% increase.

Brazilian ASTA 570 black pepper prices have reached $7,500 per 60-ton bag. Malaysian ASTA black pepper prices have remained stable at $8,800 per ton, a 3.53% increase, while ASTA white pepper prices have reached $10,900 per ton, a 4.81% increase.

Vietnamese black pepper prices have remained stable at a high level, trading at 6,600 USD/ton for 500 g/l, 7,000 USD/ton for 550 g/l, and 9,300 USD/ton for white pepper.

Risks and Opportunities in the Pepper Market

The volatility of pepper prices in Vietnam poses risks for both sellers and buyers. While farmers can profit from rising pepper prices, hoarding the commodity in the hope of even higher prices can lead to losses if buyers seek supplies from other countries.