Pepper price today November 5, 2022 | Latest pepper price market

Pepper prices today, November 5, remained stable in key growing areas. It is forecasted that pepper prices may approach 50,000 VND/kg due to low demand. Thus, after falling more than 10% in the second quarter, domestic pepper prices continued to fall by 8-8.5% in the third quarter to 63,500-66,000 VND/kg, the lowest level since March last year. The downward trend is believed to have not stopped yet, in early November, domestic pepper prices fell to 56,500-59,000 VND/kg, in the context of declining exports and the market showing signs of dumping to recover capital for the upcoming coffee crop. Since the beginning of the year, pepper prices have decreased by about 30%. In the world market, the World Pepper Community listed a decrease in prices for Indonesian and Brazilian pepper. Specifically, Lampung black pepper decreased by 6 USD/ton to 3,645 USD/ton; Brazilian black pepper ASTA 570 decreased by 2,575 USD/ton. Indonesian Muntok white pepper price was at 5,899 USD/ton, down 11 USD/ton. Meanwhile, pepper prices remained stable in the remaining countries. Specifically, Brazilian black pepper ASTA 570: at 2,600 USD/ton, unchanged. Kuching black pepper (Malaysia) ASTA: at 5,100 USD/ton, unchanged. Malaysian white pepper ASTA: at 7,300 USD/ton, unchanged. Basically, the factors affecting the pepper market in recent times include high inflation in many countries around the world, China’s Zero COVID policy and the appreciation of the USD compared to other currencies. These factors will still be the main obstacles for the Vietnamese pepper industry in the last months of this year. In addition, the fact that agents are pushing up pepper sales to shift capital to coffee trading as the coffee season is approaching also puts additional pressure on the price of this commodity. The Import-Export Department forecasts that world pepper prices will continue to be under downward pressure due to reduced demand in many countries, especially the Chinese market. The high USD is holding back exports. Chinese traders and major pepper exporters in Vietnam are in a wait-and-see mode. Mr. Phan Minh Thong, Chairman of the Board of Directors and General Director of Phuc Sinh Joint Stock Company, predicts that pepper prices in the coming time may gradually approach 50,000 VND/kg under the pressure of low demand and instability in the world economic and political situation. According to Mr. Thong, the pepper market is under pressure from high inflation, causing demand to decrease. Besides, pepper exports to China – one of Vietnam’s largest pepper consumption markets, decreased sharply due to the impact of COVID-19 prevention policies. #pepper #pepper #news #agriculture #nhanong #mientay #taynguyen #pepper #pepper price today #pepper price #pepper today #udaklak pepper price #ubinhphuoc pepper price #dongnai pepper price #freshest pepper price today #freshest pepper price #vungtau pepper price #gialai pepper price #udaknong pepper price

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