Pepper prices were the standout performer of the day, continuing their upward trajectory in the domestic market. Prices rose by 500–1,000 dong per kilogram compared with the previous session, bringing the trading range to around 140,000–141,000 dong/kg across key producing regions. This marked a clear recovery after a brief period of sideways movement in recent days.

In the Central Highlands, Dak Lak recorded prices at approximately 141,000 dong/kg, up 500 dong from a day earlier. Dak Nong saw similar gains, with some transactions reported as high as 141,500 dong/kg. Meanwhile, Gia Lai posted a stronger increase of 1,000 dong/kg to around 140,000 dong/kg. In the southern provinces, Dong Nai and Binh Phuoc also traded near 140,000 dong/kg after comparable gains, while Ba Ria–Vung Tau hovered between 140,500 and 141,000 dong/kg.

Market participants said the upward movement was driven largely by tightening domestic supply as the harvest season progressed, alongside continued buying interest from exporters. Farmers were also reported to be holding back sales in anticipation of further price increases, contributing to reduced short-term availability.

On the global front, pepper prices remained broadly stable, indicating that the recent gains were primarily a domestic phenomenon. Indonesian Lampung black pepper was quoted at $7,027 per tonne, while Muntok white pepper stood at $9,304 per tonne. Malaysia’s Kuching ASTA black pepper held steady at $9,300 per tonne, with white pepper at $12,200 per tonne.

Brazil’s ASTA 570 black pepper was assessed at $6,100 per tonne, remaining one of the more competitively priced origins. Vietnam’s export prices were unchanged, with black pepper grades of 500 g/l and 550 g/l quoted at $6,300 and $6,400 per tonne respectively, and white pepper at $9,050 per tonne.

Industry data indicated that the global pepper market had maintained a stable footing in the final week of March. Price movements were largely influenced by localized supply conditions and currency fluctuations rather than any major shifts in global demand. In India, a slight depreciation of the rupee against the U.S. dollar weighed on export pricing, while Indonesia’s market stabilized following the end of the Eid al-Fitr holiday. Malaysia recorded modest gains in export prices, supported by steady international demand, whereas Sri Lanka experienced slight downward pressure linked to exchange rate movements.

Analysts said the current environment of limited global inventories and consistent demand, particularly from Europe and the United States, was helping to support prices despite already elevated levels. Vietnam continued to play a dominant role in global supply, remaining a key exporter to multiple markets.

Looking ahead, traders expected domestic pepper prices to remain firm in the near term, fluctuating within the current high range. Further upside potential could emerge once newly harvested supply is fully absorbed by the market. Over the medium term, declining global inventories and improving demand fundamentals could provide additional support.

Coffee prices also moved higher, extending recent gains in both domestic and international markets. In Vietnam’s Central Highlands, domestic coffee prices increased by around 1,700 dong/kg compared with the previous day, with levels ranging from 88,700 to 89,500 dong/kg.

Dak Lak and Gia Lai both recorded prices of approximately 89,200 dong/kg, while Lam Dong traded slightly lower at around 88,700 dong/kg. Dak Nong posted the highest level at 89,500 dong/kg, reflecting strong buying demand.

On global exchanges, coffee prices rose on both major trading platforms. Robusta futures for May delivery in London increased by 2.16%, equivalent to a gain of $74 per tonne, reaching $3,493 per tonne. Arabica futures in New York also advanced by 1.98%, rising 5.80 cents per pound to 298.35 cents/lb.

Traders attributed the gains to a combination of tightening supply expectations and continued demand strength, particularly for robusta beans used in instant coffee production. Vietnam, as the world’s leading robusta exporter, remained a key driver of market sentiment.

In contrast, the rice market showed little change, with prices remaining largely stable across both domestic and export segments. In the Mekong Delta, paddy prices edged up slightly for certain varieties, reflecting early harvest activity and localized demand. However, overall trading remained subdued.

Fresh paddy varieties such as OM 18 and Dai Thom 8 were quoted at around 5,600–5,700 dong/kg, while IR 50404 ranged between 5,200 and 5,300 dong/kg. Other varieties, including OM 5451 and OM 34, held steady within established ranges.

Milled rice prices also remained unchanged, with limited buying interest from large warehouses contributing to slow transaction volumes. Prices for common grades such as IR 504 and OM 380 showed no significant movement.

Export prices were similarly stable, with Vietnam’s 5% broken rice quoted at $355–360 per tonne. Jasmine rice was priced at $430–434 per tonne, while fragrant rice varieties ranged from $400 to $415 per tonne.

Despite stable pricing, export performance continued to face challenges. Data showed that Vietnam’s rice exports in the early months of the year had declined in both volume and value compared with the same period last year, reflecting increased competition from other major exporters and rising logistics costs.

Meanwhile, the livestock sector presented a mixed picture, with hog prices moving in different directions across regions. In the north, prices increased slightly, with several provinces recording gains of around 1,000 dong/kg. Hanoi reached approximately 64,000 dong/kg, while other localities traded between 62,000 and 63,000 dong/kg.

In the central and Central Highlands regions, prices were more volatile, with both increases and decreases observed. Some provinces posted gains, while others saw declines of around 1,000 dong/kg, resulting in a trading range of 61,000–66,000 dong/kg.

Southern markets, however, experienced a downward trend, with prices falling by around 1,000 dong/kg in several provinces. Despite the declines, the region continued to maintain the highest price levels nationwide, with transactions generally ranging from 65,000 to 68,000 dong/kg.

Market observers said the divergence reflected differences in local supply-demand dynamics, as well as varying levels of consumption across regions. In the near term, prices in the north and central regions could see modest increases if demand improves, while the south may face further downward pressure if supply conditions become more favorable.

Overall, Vietnam’s commodity markets on April 1 reflected a combination of firm pricing in key export-oriented sectors and stability in staple food markets. Pepper and coffee continued to attract strong interest, supported by both domestic and global factors, while rice and livestock markets remained more subdued.

Looking forward, market participants will closely monitor supply developments, export demand and macroeconomic factors such as currency movements and logistics costs, all of which are expected to play a crucial role in shaping price trends in the coming weeks.

Source: Vitic