Pepper price on 05/22/2023: Highest at VND 76,000/kg.

World pepper price on May 22

Pepper's price on May 22 in the world market is maintaining stability in all countries. 

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 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 continued to move sideways today. Last week, the world market showed mixed signals when some foreign currencies weakened slightly against the USD.

According to the International Pepper Community (IPC), the pepper cultivation area of Indonesia from 2013 to 2022 is showing an increasing trend, with a rate of 66%. 

In 2022, Indonesia cultivated pepper in an area of 187,822 ha, down 1% from the previous year. This decrease may be due to the fact that pepper cultivation is less encouraged because of a number of factors, such as arable land being reduced to make room for palm growth, pepper prices being low, and fertilizer support for pepper farmers being abolished.

Indonesian pepper production has shown an upward trend since 2013 and recorded an increase of 29% over the past 10 years, reaching 81,962 tons in 2022. Along with the decrease in area, Indonesia's pepper production in 2022 decreased by 2% compared to the previous year. 

Entering 2023, Indonesian pepper productivity is expected to reach 447 kg/ha, up 2% over the previous year thanks to farmers' better awareness of good agricultural practices (GAP).

In the first 3 months of 2023, Indonesia only exported 6,050 tons of pepper, down 34% compared to the same period last year.

Thus, pepper price on 05/22/2023 in the world market was unchanged compared to yesterday.

Domestic pepper price on May 22

Pepper's price on May 22 in the domestic market has no new changes compared to yesterday.

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;

The price of pepper in Binh Phuoc today 22/5 traded at VND 75,500/kg; remaining the same.

Domestic pepper price today continues to move sideways and is anchored at the highest level at 76,000 VND/kg. Last week, the domestic pepper market decreased slightly by 500 VND/kg.

According to the Vietnam Pepper and Spices Association (VPSA), Tran Chau is still the largest pepper exporter in Vietnam in the first quarter of 2023. The production volume is 5,393 tons, however, compared to the same period last year, the export volume recorded a decrease of 29.2%.

In addition, the export of Nedspice Vietnam also decreased by 19.1%, reaching 4,214 tons, and the export of Olam Vietnam reached 3,851 tons, down 41.8%. The business sector in VPSA exports accounted for 56.8%, down 8.5% over the same period last year. 

Thus, today's pepper price on 05/22/2023, in the domestic market is trading around VND 73,000 - 76,000/kg.

$1 = VND 23,250.00 - Source:Vietcombank