Pepper price on 06/1/2023: Sharp increased by VND 6,000/kg

World pepper price on June 1

Pepper prices on June 1 in the world market are down slightly in Indonesia but flat in other countries.

Accordingly, the price of Lampung black pepper in Indonesia decreased by 0.22%, to $ 3,581/ton. And the price of this country's Muntok white pepper decreased slightly by 0.23%, at $ 6,091/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 price being listed by the International Pepper Community is decreasing in Indonesia and remaining stable in other markets.

It is forecasted that the world pepper market in the remaining time of the second quarter of 2023 will still face difficulties. This is due to the slowdown in consumer demand in major economies such as the EU, the United States, the United Kingdom, and Japan.

Difficult economic conditions, high inflation, prolonged geopolitical tensions and instability in the financial market are believed to be the reasons for the decrease in demand for pepper.

Thus, pepper price on 06/1/2023 in the world market decreased slightly in Indonesia compared to yesterday.

Domestic pepper price on June 1

Pepper's price on June 1 in the domestic market is flat compared to yesterday.

Specifically, Dak Lak and Dak Nong pepper prices today remained at VND 74,000/kg;

Today's pepper price in Gia Lai was also flat, trading at VND 72,500/kg;

Pepper price today in Dong Nai remained unchanged, purchased at VND 73,000/kg;

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

And Binh Phuoc pepper price on June 1 continues to trade at VND 75,000/kg.

The domestic pepper price today has no new changes, and the highest price level is VND 75,500/kg.

In May 2023, the domestic pepper market continued to increase strongly. Accordingly, the domestic price of pepper has increased by VND 5,500 - 6,000/kg, a stronger increase than the whole month of April 2023.

This is also the second consecutive month that the domestic pepper market has increased sharply. In April 2023, the price of pepper in our country increased by about VND 2,500 - 4,000/kg.

Although the market is expected to face many difficulties, China's increase in purchasing will help domestic pepper prices maintain high levels.

Thus, pepper price on 06/1/2023 in the domestic market is trading around VND 72,500 - 75,500/kg.

$ 1 = VND 23,285.00 - Source: Vietcombank