Pepper prices today (March 3) fluctuate between 92,000 - 93,500 VND/kg. Last week, the pepper market tended to go up. Compared to the beginning of the week, key provinces recorded the highest increase of 3,000 VND/kg.
According to the survey, the lowest price is currently 92,000 VND/kg recorded in Dong Nai and Gia Lai provinces, increasing by 2,000 VND/kg and 3,000 VND/kg respectively. Next is Ba Ria - Vung Tau province with an increase of 1,000 VND/kg, currently priced at 93,000 VND/kg.
This is also the pepper price recorded in Dak Lak and Dak Nong after increasing by 1,500 VND/kg last week.
Currently, Binh Phuoc province has the highest pepper price of 93,500 VND/kg, an increase of 1,500 VND/kg compared to last weekend.
Update pepper information
The pepper market increased 8% last week and is up 12.6% since January 2024, according to Peppertrade.
On Saturday, February 24, black pepper prices decreased after peaking at 98,000 VND on February 22, 2024. By the end of the week, the price increased to 94,000 VND. Overall, black pepper prices increased by 8% compared to last week. Since the beginning of 2024, black pepper prices have also increased by 12.6%.
Many farmers and agents believe that coffee prices are unlikely to increase by 400 USD/ton this year.
However, black pepper prices are likely to increase by $1000 - $1500/MT in the near future. Therefore, many farmers and agents continue to prioritize selling coffee and switch to storing black pepper, leading to a lower amount of black pepper traded on the market than in previous years.
On many social networking forums (with more than 200,000 members), many farmers have begun to expect that black pepper prices will continue to increase by at least 20-30% in the near future. This has reinforced the psychology of stockpiling black pepper in the farming community. Farmers increasingly believe in the increasing price cycle of black pepper and almost refuse to sell when the market adjusts downward.
According to VietnamBiz.vn
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