Pepper price today 05/11/2023: Increasing sharply to VND 77,000/kg

World pepper price today May 11

Pepper prices today 05/11 in the world market increased slightly in Indonesia but remained unchanged in other countries.

Accordingly, the price of Lampung black pepper in Indonesia increased by 0.06%; up to $3,566/ton. The price of Muntok white pepper in this country increased by 0.08%; approximately $6,046/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 increase slightly in Indonesia and was flat in other export markets.

The Vietnam Pepper and Spices Association (VPSA) said the pepper market is still being affected by the economic downturn and this will reduce consumption and export demand for the time being.

Accordingly, the economic downturn may cause consumers around the world to tighten their spending, neglecting restaurants, thereby reducing consumption. 

However, VPSA believes that in the long term, pepper prices can still increase. Normally, the price fluctuation cycle will take 7-10 years. In particular, the price reduction cycle of Vietnamese pepper, starting from 2016 to now, has been 7 years and will soon be adjusted again. 

In addition, many pepper-growing areas this year have shrunk because farmers have switched to other crops. This is causing the output to continuously decrease in recent years, causing pepper prices to increase.

Thus, pepper price today 05/11/52023 in the world market increased slightly in Indonesia compared to yesterday.

Domestic pepper price today May 11

Pepper price today 05/11 in the domestic market increased by VND 1,000/kg compared to yesterday. 

Specifically, the price of pepper in Dak Lak and Dak Nong today increased to VND 75,000/kg;

Today's pepper price in Gia Lai also increased strongly, trading at VND 74,000/kg;

Pepper price today in Dong Nai increased sharply to VND 74,500/kg;

The latest pepper price today in Ba Ria - Vung Tau increased to VND 77,000/kg;

And Binh Phuoc pepper price today 05/11 increased sharply, trading at VND 76,500/kg.

Domestic pepper prices today continued to have a third consecutive session of strong increase, reaching the highest level at VND 77,000/kg.

According to the latest report of VPSA, Vietnam imported 2,370 tons of pepper in April 2023. Black pepper reached 2,026 tons, and white pepper reached 344 tons. The total import turnover of pepper in April 2023 reached $7.5 million, down 36.2% compared to the previous month.

Summarizing the first 4 months of 2023, Vietnam imported 10,184 tons of pepper (9,404 tons of black pepper, 780 tons of white pepper), down 1,921 tons (equivalent to 15.9%) over the same period last year.

Brazil continues to be the main pepper supplying market for our country, accounting for 63% of the market share; increasing by 63.9%, reaching 6,417 tons.

Pepper imports from Cambodia and Indonesia decreased by 63.6% and 34.1%, respectively; reaching 1,715 tons and 1,222 tons.

The above statistics also show that the amount of pepper in the country has dropped sharply, reflecting the market supply is no longer abundant and the demand is increasing globally.

Thus, pepper price today 05/11/2023 in the domestic market is trading around 74,000 - 77,000 VND/kg.

* $1 = VND23,270.00 - Source: Vietcombank