Pepper price on 05/23/2023: Slight reduction to VND 500/kg

World pepper price on May 23

Pepper price on May 23 in the world market is increasing slightly in Indonesia but flat in other countries. 

Accordingly, the price of Lampung black pepper in Indonesia increased slightly by 0.28% to $ 3,607/ton. And the price of Muntok white pepper in this country increased by 0.26%; at $ 6,134/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.

The world pepper price listed by the International Pepper Community today increased slightly in Indonesia and remained unchanged in other markets. 

Last week, the world pepper market fluctuated in opposite directions. In particular, the price of Indian pepper decreased due to a 1% decrease in the Rupee against the USD. In other parts of South Asia, domestic Sri Lankan pepper prices continued to increase in the past 2 weeks, thanks to a 2% increase in the Rupee against the USD.

In Southeast Asia, Indonesia's domestic and export pepper prices increased last week despite the rupiah falling 1% against the USD (IDR 14,858/ $).

Malaysian domestic pepper prices also fell as the Ringgit fell 2% against the USD (MYR 4.52/ $). Meanwhile, Malaysian export pepper prices continued to be stable and unchanged.

For the Vietnamese market, domestic white pepper prices fell last week. Meanwhile, the other types are stable and unchanged.

Thus, pepper price on 05/23/2023 in the world market was unchanged compared to yesterday.

Domestic pepper price on May 23

Pepper's price on May 23 in the domestic market decreased slightly 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 decreased by VND 500, purchased at VND 73,000/kg;

The latest pepper price today in Ba Ria - Vung Tau decreased slightly to the threshold of VND 75,500/kg;

And Binh Phuoc pepper price today 23/5 traded at VND 75,000/kg; VND 500 off.

Domestic pepper prices today remained stable in the Central Highlands but decreased slightly by VND 500/kg in the Southeast provinces.

The domestic pepper market is at a disadvantage when coffee is attracting capital. Meanwhile, the USD rose and the purchasing power of most pepper exporters weakened, due to the lack of capital in the context of high-interest rates and erratic exchange rate fluctuations. 

Not only large export businesses, local traders are also facing many capital problems. This year, the psychology of holding goods is still prominent, people are waiting for the price to increase, making transactions less exciting. 

Thus, today's pepper price on 05/23/2023 in the domestic market is trading around VND 73,000 - 75,500/kg.

$ 1 = VND 23,260.00 - Source: Vietcombank