Pepper price on 05/24/2023: Persisted downward momentum

World pepper price on May 24

Pepper prices on May 24 in the world market continued to increase slightly in Indonesia but remained unchanged in other countries.

In that case, the price of Lampung black pepper in Indonesia increased by 0.11% to $ 3,611/ton. And the price of Muntok white pepper in this country increased by 0.13%; at $ 6,142/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 today was continuously adjusted by the International Pepper Community in Indonesia and remained unchanged in other markets. 

Meanwhile, the export price of Vietnam's pepper has remained unchanged for many weeks (since May 6) despite fluctuations in the domestic market.

According to experts, in addition to the supply and demand factor, the strengthening of the USD, along with the weakening of purchasing power of most pepper exporters, pushed down global pepper prices.

Currently, negotiations on the debt ceiling issue in the US have not made new progress. This has affected investor sentiment and caused the USD to rise to the highest level in the past 2 months.

Thus, pepper price on 05/24/2023 in the world market increased slightly in Indonesia compared to yesterday.

Domestic pepper price on May 24

Pepper price on May 24 in the domestic market continued to decrease compared to yesterday. 

Specifically, the price of pepper in Dak Lak and Dak Nong today fell sharply to VND 73,500/kg;

Specifically, the price of pepper in Dak Lak and Dak Nong today fell sharply to VND 73,500/kg;

Pepper price today in Dong Nai dropped sharply, purchased at VND 72,000/kg;

The latest pepper price today in Ba Ria - Vung Tau decreased slightly to the threshold of VND 75,000/kg;

The price of pepper in Binh Phuoc on May 24 traded at VND 74,000/kg; VND 1,000 off.

Domestic pepper prices today saw a second consecutive decrease. In which, the price in Ba Ria Vung Tau decreased by VND 500/kg and sharply decreased by VND 1,000/kg in other key localities. After 2 days of decline, the domestic coffee market has returned to the mark of VND 75,000/kg.

Thus, pepper price on 05/24/2023 in the domestic market is trading around VND 72,000 - 75,000/kg.

$ 1 = VND 23,300.00 - Source: Vietcombank