Pepper prices on 11/4/2023: Southeast price decreased slightly

Pepper prices on 11/4 in the world

In the world, the pepper price on 11/4 still increased slightly in Indonesia but remained flat in other countries.

Accordingly, the price of Lampung black pepper in Indonesia increased by 0.57%; increased to $ 4,058/ton. The price of Muntok white pepper in this country also increased by 0.57%; at $ 6,149/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 maintain a slight upward trend in Indonesia in the context of a sharp decline in the USD. 

IPC said that this week's pepper market continues to show negative prospects. In the past 3 weeks, no market recorded an increase in price. 

Accordingly, Indian pepper prices reportedly tend to decrease this week. In Indonesia, domestic and international pepper prices continue to be reported at negative levels. Meanwhile, VPA said that last week the Indonesian Rupiah decreased by 1% against the USD, causing both domestic and export pepper prices in this country to decrease. 

Malaysian domestic pepper prices recorded a decrease in the past 3 weeks due in part to the impact of the Malaysian Ringgit falling compared to the USD. Meanwhile, export pepper prices remained stable and unchanged.

The context of economic recession and intense geopolitical conflicts (such as Russia-Ukraine, and Irsael-Palestine) has affected the global market, including oil prices and the world trade situation in general. Many countries are facing a shortage of foreign currency, pushing the domestic currency down, and thereby affecting agricultural products, including pepper. 

Currently, the USD is falling to its lowest level in the past 6 weeks, after data showed the US economy created fewer jobs than expected last month, reinforcing expectations that the Fed may keep interest rates stable at the upcoming December meeting. This is expected to help pepper prices to recover in the short term. 

Thus, world pepper prices on 11/4/2023 continued to increase slightly in Indonesia compared to yesterday.

Pepper prices on 11/4 in the country

Domestically, the pepper market on 11/4 decreased slightly in some places compared to yesterday.

Specifically, Dak Lak and Dak Nong traders continue to purchase at VND 67,000/kg;

In Gia Lai, pepper prices are still trading at VND 65,500/kg;

In Dong Nai, traders are purchasing at VND 66,000/kg, down VND 500;

The latest pepper price in Ba Ria - Vung Tau is reaching VND 68,000/kg, down slightly by VND 500; 

And Binh Phuoc pepper price was reduced by VND 500; Trading around VND 67,500/kg.

Domestic pepper prices today are still stable in the Central Highlands provinces, but slightly decreased by VND 500/kg in the Southeast region. Therefore, the highest domestic pepper price threshold is only VND 68,000/kg.

Thus, the domestic pepper price on 11/4/2023 is trading around VND 65,500 - 68,000/kg.

$ 1 = VND 24.320 - Source: Vietcombank