Pepper price on 05/18/2023: Shifting to a slight decrease

World pepper price on May 18

Pepper price on May 18 in the world market decreased slightly in Indonesia and remained the same in other countries.

Accordingly, the price of Lampung black pepper in Indonesia decreased by 0.44%; about $ 3,627/ton. And the price of Muntok white pepper in this country also decreased by 0.44%; at $6,144/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.

World pepper prices today decrease slightly in Indonesia but are unchanged in other export markets. 

Since the end of the 16th century, Indonesia has been an important supplier of world pepper trade, said the International Trade Negotiations Agency under the Indonesian Ministry of Trade. Currently, this is still one of the largest contributors to the country's foreign currency earnings.

According to data from the Central Statistics Office of Indonesia, the export value of this country's pepper in the period 2018 - 2022 exceeded $775 million with an average volume of about 45 thousand tons. 

It can be seen that Indonesia is the third largest pepper-growing country in the world. But one of the challenges this market is facing is the low price of pepper at the farms.

Thus, today's pepper price on 05/18/2023 in the world market increased sharply in Indonesia compared to yesterday.

Domestic pepper price on May 18

Pepper's price on May 18 in the domestic market decreased slightly compared to yesterday.

Specifically, Dak Lak and Dak Nong pepper prices today moved sideways, staying at VND 75,000/kg;

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

Pepper price today in Dong Nai decreased by VND 500, purchased at VND 74,000/kg;

The latest pepper price today in Ba Ria - Vung Tau decreased slightly to VND 76,500/kg;

And Binh Phuoc pepper price on May 18 traded at VND 76,000/kg; a decrease of VND 500.

Domestic pepper prices today turned down slightly. In which, the price in Southeast provinces is reducing slightly by VND 500/kg, while other localities are maintaining stability.

According to some retail traders, the domestic pepper market is showing signs of speculation, pinning prices from "sharks", because the price has increased recently. 

According to experts, this year's market will be different from last year. In 2022, the purchasing power of pepper in the Chinese market is very weak, the transaction volume is not much. 

But entering this year, China has stepped up purchasing from the Vietnamese market; and this has helped pepper prices increase sharply. 

Thus, today's pepper price on 05/18/2023 in the domestic market is trading around VND 73,500 - 76,500/kg.

$1 = VND 23,240.00 - Source: Vietcombank