Pepper price on 06/2/2023: Continue to remain stable

World pepper price on June 2

Pepper prices on June 2 in the world market remained stable in all other countries.

Accordingly, the price of Lampung black pepper in Indonesia remained at $3,581/ton. And the price of Muntok white pepper in this country is $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 is black pepper at $3,500 and $3,600/ton, respectively. The export price of white pepper is $5,000/ton.

Today's world pepper price is maintained by the International Pepper Community at the level listed yesterday in all markets.

Thus, pepper price on 06/2/2023, in the world market is flat compared to yesterday.

Domestic pepper price on June 2

Pepper's price on June 2 in the domestic market has no new changes 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 2 continues to trade at VND 75,000/kg.

Domestic pepper prices continued to move sideways today in the context of high coffee prices. Currently, the domestic pepper market is holding the highest price of VND 75,500/kg.

According to statistics of the General Department of Customs in April 2023, businesses have exported 102,539 tons of pepper, up 32.1% (24,929 tons) over the same period last year. However, due to the decrease in pepper price, the export turnover of the industry only reached $ 316.6 million, down 12.4%.

According to the Vietnam Pepper and Spices Association (VPSA), China has surpassed the US to become the largest pepper export market of Vietnam in the first 4 months of this year. The volume reached 35,914 tons, which increased more than 15 times (1.430%) over the same period.

And it far exceeds the 20,498 tons that Vietnam exported to this market in the last year. In terms of proportion, China accounts for 35% of the total export volume of our country compared to a modest figure of 3% in the 4 months of 2022.

In April alone, Vietnam's pepper exports to China reached 9,995 tons, down 36.4% compared to the record 15,710 tons in March. This is a 48 times increase (4.682%) compared to April 2022.

Thus, pepper price on 06/2/2023 in the domestic market is trading around VND 72,500 - 75,500/kg.

$1 = VND 23,280.00 - Source: Vietcombank