According to forecasts, pepper prices on October 31 are likely to continue to increase due to the influence of the international market. According to experts, pepper prices will continue to increase slightly due to the international market remaining stable, the UAE has surpassed Vietnam to become the second largest pepper export market, opening up growth opportunities from the recently signed CEPA Agreement, the Vietnamese pepper industry is facing a great opportunity to further increase export turnover to the UAE market.
In the domestic market, pepper prices today in the Southeast region increased by 1,000 - 1,500 VND/kg compared to yesterday, trading around 143,000 - 144,500 VND/kg; the highest purchase price was in Dak Nong and Dak Lak provinces.
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| Continued upward adjustment due to influence from international market |
Accordingly, Dak Lak pepper price was purchased at 144,500 VND/kg, an increase of 1,500 VND/kg compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 143,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. Dak Nong pepper price today was recorded at 144,500 VND/kg, an increase of 1,500 VND/kg compared to yesterday.
In Binh Phuoc, pepper price today is 143,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday. In Ba Ria - Vung Tau, it is currently 144,000 VND/kg, an increase of 1,000 VND/kg compared to yesterday.
In the world market, at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,681 USD/ton, down 0.64% compared to yesterday, and the price of Muntok white pepper at 9,146 USD/ton, down 0.65% compared to yesterday.
The price of Brazilian ASTA 570 black pepper is at 6,400 USD/ton. The price of Malaysian ASTA black pepper is at 8,500 USD/ton; the price of this country's ASTA white pepper is at 11,000 USD/ton.
Of which, the price of Vietnamese black pepper is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; the price of white pepper is at 9,500 USD/ton.
According to data from the General Department of Customs, the UAE has risen to become Vietnam's second largest pepper export market in the first 9 months of the year, after the US. Specifically:
Export volume to UAE: Reached 12,944 tons, worth 68.5 million USD, up 39.3% in volume and 2.1 times in value over the same period last year.
UAE market share: Accounts for 6.5% of Vietnam's total pepper exports, up from 4.5% over the same period last year.
Pepper export price to UAE: Averaged 5,290 USD/ton, 56.7% higher than the same period last year.
*Information for reference only. Prices may vary depending on time and location.
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