Pepper prices on 11/23/2023: exports prices increased sharply

Pepper prices on 11/23 around the world

Around the world, the pepper market prices on November 23 continued to decrease in Indonesia but remained unchanged in other countries.

Accordingly, the price of Lampung black pepper in Indonesia decreased by 0.94%, down to $ 4,034/ton. The price of this country's Muntok white pepper decreased by 0.96%, down to $ 6,222/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 continue to decrease in Indonesia and remain unchanged in other markets.

Brazil's offered pepper price is still more attractive than the price of domestic raw materials pepper because it is affected by the devaluation of the Brazilian real exchange rate compared to the USD. Accordingly, the most recent recorded price in Espírito Santo state is Real 13.5/kg and in Pará state, the price is about Real 12.5/kg.

Regarding the situation of pepper production in Brazil, farmers are currently deeply concerned about the lack of rain that has affected and led to mass crop deaths. This problem has been reported by the state of Para recently.

Accordingly, the current drought weather conditions are described as "worse than what the state has ever seen". It is very alarming and can certainly lead to a high rate of damaged pepper plants, affecting upcoming yields.

Thus, world pepper prices on 11/23/2023 still decreased slightly in Indonesia compared to yesterday.

Pepper prices on 11/23 in the country

Domestically, the pepper market on November 23 went sideways compared to yesterday.

Specifically, Dak Lak and Dak Nong continue to purchase pepper at VND 70,500/kg;

In Gia Lai, pepper prices are trading at VND 69,500/kg;

In Dong Nai, traders maintain purchasing at a price of VND 69,000/kg;

The latest pepper price in Ba Ria - Vung Tau is anchored at VND 72,000/kg; 

Meanwhile, Binh Phuoc pepper price moved sideways, trading around VND 72,000/kg.

Domestic pepper prices today levelled off after 2 consecutive days of increase, with the highest price level at VND 72,000/kg.

According to data from the General Department of Customs, Vietnam's pepper exports in October 2023 reached 19,401 tons, worth $ 73.2 million, an increase of 7.1% in volume and 8.4% in value compared to the previous month, and increased by 11.6% in volume and 10.6% in value compared to the same period last year. 

This increase is mainly due to demand from major markets including the US, and European Union... recovering trend.

Of which, pepper exports to the US market in October reached 5,183 tons, up 20% over the same period last year and accounting for 26.7% of our country's total pepper exports. In addition, the amount of pepper exported to Germany increased by 2.5 times to 960 tons; the Netherlands increased by 65.6%; South Korea increased by 2.6 times; the UK increased by 37.5%; especially, India increased by 591.5%.

Pepper exports to China in October only reached 1,738 tons, down 21.9% over the same period. China's import volume in recent months has been on a downward trend after the country purchased enough goods from the first 2 quarters of the year.

However, according to the accumulation of the first 10 months of 2023, China is still Vietnam's largest pepper export market with a volume of 57,723 tons, accounting for 25.6% of the market share and an increase of 265.3% over the same period.

Thus, by the end of October, Vietnam's pepper exports reached 225,438 tons, worth $ 755.63 million. Compared to the same period last year, export volume increased by 17.5%, but turnover decreased by 9.7%.

Thus, domestic pepper prices on 11/23/2023 are trading around VND 69,000 - 72,000/kg.

$ 1 = VND 24.020 - Source: Vietcombank