Pepper price on 05/20/2023: The market remains stable

World pepper price on May 20

Pepper's price on May 20 in the world market simultaneously went sideways.

Accordingly, the price of Lampung black pepper in Indonesia remained at $ 3,597/ton. The country's price of Muntok white pepper remained unchanged; at $ 6,118/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.

For the Brazilian market, the price of black pepper ASTA 570 is $ 2,950/ton.

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

Today's world pepper prices are listed sideways by the International Pepper Community (IPC) in all export markets.

Summarizing this week, IPC recorded mixed reactions when some foreign currencies weakened slightly against the USD. Indian pepper prices are reported to be on a downward trend this week.

Thus, today's pepper price on 05/20/2023 in the world market remained stable compared to yesterday.

Domestic pepper price on May 20

Pepper's price on May 20 in the domestic market was unchanged compared to yesterday.

Specifically, the price of pepper in Dak Lak and Dak Nong today remained at VND 74,500/kg;

Pepper price today in Gia Lai maintained trading at VND 73,000/kg;

Pepper price today in Dong Nai was flat, purchased at VND 73,500/kg;

The latest pepper price today in Ba Ria - Vung Tau is anchored at VND 76,000/kg;

And Binh Phuoc pepper price on May 20 traded at VND 75,500/kg; unchanged.

Domestic pepper prices today slowed down after 2 consecutive sessions of slight decrease. Currently, the highest price in the domestic pepper market is VND 76,000/kg.

Recently, the pepper market has continuously grown and kept a good price. With the shortage of global pepper and concerns about the next season's output decline, prices have continuously increased.

Facing the positive signal from the market, experts forecast that by the end of this year and the following years, pepper prices will be stable according to the increasing margin and it is likely that by the end of 2023, the price will reach VND 90,000 - 100,000/kg.

If the pepper price can exceed VND 100,000/kg, experts are still concerned that the pepper area will be difficult to expand further. This is due to a limited area, and the high cost of labor. Pepper growers will have to calculate if they expand the planting area.

$ 1 = VND 23,290.00 - Source: Vietcombank