Pepper price on 11/18/2023: Slightly increasing to VND 71,000/kg

Pepper prices on 11/18 in the world

In the world, the pepper market price on November 18 increased slightly in Indonesia but remained flat in other countries.

Accordingly, the price of Lampung black pepper in Indonesia increased by 0.58%; to $ 4,128/ton. The price of this country's Muntok white pepper also increased by 0.58%, at $ 6,254/ton.

Malaysia's Kuching ASTA black pepper price remained stable at $ 4,900/ton; This country's ASTA white pepper is still priced at $ 7,300/ton.

For the Brazilian market, the price of ASTA 570 black pepper remained at $ 3,100/ton.

In Vietnam, export prices of 500 and 550 g/l black pepper are at $ 3,500 and $ 3,600/ton, respectively. The export price of white pepper remained at $ 5,100/ton. 

World pepper prices are currently increasing slightly in Indonesia and remaining stable in other markets.

IPC commented that this week's pepper market continues to have opposite fluctuations. After reports of a decrease over the past 2 weeks, Indian pepper prices tend to increase again this week. Domestic and international Indonesian pepper prices were stable this week. 

This week the USD fell sharply, when lower-than-expected US inflation data published on November 14 and 15 boosted market expectations. This news has boosted market expectations about when the Fed will cut interest rates. The falling USD creates opportunities for commodity exchanges to recover, including pepper. In addition, consumer demand in the last months of the year also pushed markets to increase imports.

Thus, world pepper prices on 11/18/2023 increased slightly in Indonesia compared to yesterday.

Pepper prices on 11/18 in the country

Domestically, the pepper market price on November 18 increased by VND 500 compared to yesterday.

Specifically, Dak Lak and Dak Nong purchase price increased up to VND 69,000/kg;

In Gia Lai, pepper prices are still trading at VND 68,000/kg;

In Dong Nai, traders still purchase at VND 68,000/kg;

The latest pepper price in Ba Ria - Vung Tau remains around VND 71,000/kg;

Meanwhile, Binh Phuoc increased the price slightly by VND 500, trading around VND 70,500/kg.

Domestic pepper prices today increased slightly, bringing pepper products to VND 71,000/kg.

According to preliminary report data from the General Department of Customs, pepper exports in October 2023 reached 19,401 tons for pepper of all kinds, an increase of 1,290 tons. That's an increase of 7.12% over the previous month and an increase of 2,012 tons, or an increase of 11.57% over the same period last year.

As for data from the Vietnam Pepper and Spice Association, in October 2023, Vietnam exported 19,193 tons of pepper of all kinds, black pepper reached 17,096 tons, and white pepper reached 2,097 tons. Total export turnover reached $ 72.7 million, black pepper export turnover reached $ 61.9 million, and white pepper export turnover reached $ 10.8 million.

Compared to September, pepper export volume increased by 15.4%, and turnover increased by 17.3%. The average export price of black pepper in the month reached $ 3,664/ton, white pepper export price reached $ 5,211/ton, down 0.7% for black pepper and up 1.1% for white pepper compared to September.

Notably, the US market in October accounted for 26.9% of Vietnam's pepper exports, reaching 5,169 tons an increase of 34.5% compared to the previous month. Import growth was also recorded in India, increasing by 31%, reaching 1,300 tons.

Thus, the domestic pepper price on 11/18/2023 is trading around VND 68,000 - 71,000/kg.

$ 1 = VND 24.045 - Source: Vietcombank

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