Pepper price on 05/16/2023: Increase sharply to VND 77,000/kg

World pepper price on May 16

Pepper price on May 16 in the world market increased sharply in Indonesia but was flat in other countries.

Accordingly, the price of Lampung black pepper in Indonesia increased by 1.71%; to $3,627/ton. And the price of Muntok white pepper in this country increased sharply by 2.06%; at $6,170/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 black pepper of 500 and 550 g/l is $3,500 and $3,600/ton, respectively. The export price of white pepper is $5,000/ton.

The world pepper price today increased sharply in Indonesia and remained unchanged in other export markets.

Recently, the Ministry of Commerce of Cambodia (MoC) held a meeting to discuss solutions to promote pepper exports. The Cambodian government has made this item one of its top priorities. 

The Kampot Pepper Promotion Association said recently that Cambodia's Kampot pepper exports, one of only two products of this country to be registered as a Geographical Indication in the European Union, decreased by 30.7% from 114 tons in 2021 to 79 tons in 2022.

In addition, Cambodia and China have just signed a memorandum of understanding on phytosanitary requirements for exported pepper. This creates a premise for the ministries and specialized agencies of the two countries to continue negotiating plant quarantine requirements. It also allows Cambodian pepper to be officially and directly exported to China in the near future.

Thus, pepper price on 05/16/2023 in the world market increased sharply in Indonesia compared to yesterday.

Domestic pepper price on May 16

Pepper's price today on May 16 in the domestic market continued to increase sharply compared to yesterday. 

Specifically, the price of pepper in Dak Lak and Dak Nong today increased by VND 1,000, to VND 75,000/kg;

Today's pepper price in Gia Lai increased by VND 500, trading at VND 73,500/kg;

Today's pepper price in Dong Nai also increased by VND 500, purchased at VND 74,500/kg;

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

The price of pepper in Binh Phuoc today May 16 is traded at VND 76,500/kg; a VND 500 increase.

Domestic pepper prices today continued to have a second strong increase in a row this week. In which, the price in Dak Lak and Dak Nong increased to VND 1,000/kg, and the price in other key areas increased by VND 500/kg.

With the continuous increase in the first days of the new week, the domestic pepper market has recovered to the price of VND 77,000/kg.

Thus, today's pepper price on 05/16/2023 in the domestic market is trading around VND 75,000-77,000/kg.

$1 = VND 23,250.00 - Source: Vietcombank