Pepper price on 05/14/2023: increasing sharply by VND 1,500/kg

World pepper price today May 14

Pepper price on May 14 in the world market has no new changes in countries. 

Accordingly, the price of Lampung black pepper in Indonesia remained at $3,565/ton. And the price of Muntok white pepper in this country is pegged at $6,043/ton.

Malaysia's Kuching ASTA black pepper price remained stable at $4,900/ton; while the country's ASTA white pepper is still priced at $7,300/ton.

In Vietnam, the export price of 500 g/l and 550 g/l black pepper is $3,500 and $3,600/ton, respectively. The export price of white pepper is $5,000/ton.

World pepper prices today remained stable in all export markets. This week, the pepper market grew positively as no country reported a decrease. 

Indian pepper prices continued to remain stable this week.

In Indonesia, the price of black pepper reported an increase while white pepper remained stable. Recently, this market fluctuated slightly due to the influence of Vietnam and Brazil.

The expected decrease in production, along with the continuous appreciation of the Indonesian Rupiah against the USD will help the country's pepper price increase in the future.

Expert review that they have now implemented a more specific currency trading system to divert away from the USD.

Meanwhile, the FOB price of Brazilian pepper exports has increased by $400-500 each way in the past 1 week period, with incentives still very limited despite the huge demand abroad.

According to the report, farmers are said to be prioritizing the coffee harvest and waiting until July before focusing on pepper. 

The export of pepper in April 2023 to Brazil was estimated at 8,563 tons. Generally in the first 4 months of the year, the export is about 28,820 tons, 4% higher than in the same period last year.

Thus, today's pepper price on May 14, 2023, in the world market is flat compared to yesterday.

Domestic pepper price today May 14

Pepper's price on May 14 in the domestic market remained stable compared to yesterday. 

Specifically, the price of pepper in Dak Lak and Dak Nong today remained at VND 73,000/kg;

Today's pepper price in Gia Lai is trading at VND 72,000/kg;

Today's pepper price in Dong Nai is purchased at VND 73,000/kg;

The latest pepper price today in Ba Ria - Vung Tau kept at VND 75,500/kg;

And Binh Phuoc pepper price today May 14 traded at VND 75,000/kg.

The domestic pepper price today has no new changes, with the highest level of VND 75,500/kg. In summary, this week, the price in the domestic pepper market continued to increase strongly.

In which, pepper in the Central Highlands increased by VND 1,000/kg, while in the Southeast provinces increased sharply by VND 1,500/kg.

Currently, the domestic pepper market price is fluctuating according to the weather. Accordingly, there was a time when pepper prices continuously increased during the first days of the week when the hot weather took place, causing caution about the output next season.

But after the cool weather and rain, the domestic pepper market price decreased in the last sessions of the week.

According to the latest report from the Vietnam Pepper and Spices Association, our country's pepper exports in the first 4 months of 2023 increased sharply. And it is expected to surpass the $1 billion mark if the growth momentum is maintained.

Thus, today's pepper price on May 14, 2023, in the domestic market is trading around VND 72,000 - 75,500/kg.

$1 = VND 23,270.00 - Source: Vietcombank