Pepper price on 05/28/2023: Sharp decrease this week

World pepper price on May 28

Pepper prices on May 28 in the world market simultaneously went sideways in all countries.

Accordingly, the price of Lampung black pepper in Indonesia remained at $3,592/ton. And the price of Muntok white pepper in this country is $6,109/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 remained stable. This week, the global pepper market and the International Pepper Community recorded mixed fluctuations.

In particular, Indian pepper prices have reported an increase again after several weeks of decline. The price in the Indonesian market continuously decreased in the last sessions of this week.

Particularly for the Vietnamese market, the export price of pepper this week did not have any new changes, but the domestic pepper price dropped sharply. 

This week, the market was under pressure from a strong USD price, pushing other currencies weaker. This makes the world pepper price decreases.

Thus, today's pepper price on 05/28/2023 in the world market remained stable compared to yesterday.

Domestic pepper price on May 28

Pepper's price on May 28 in the domestic market has no new changes compared to yesterday.

Specifically, the price of pepper in Dak Lak and Dak Nong today remained at VND 73,000/kg;

Pepper price today in Gia Lai traded at VND 71,500/kg;

Today's pepper price in Dong Nai is purchased at VND 71,500/kg;

The latest pepper price today in Ba Ria - Vung Tau is anchored at VND 74,000/kg;

And Binh Phuoc pepper price on May 28 is traded at VND 73,500/kg.

Domestic pepper price today continued to maintain at VND 74,000/kg. This week, the domestic pepper market had 4 consecutive decreasing sessions and 1 slight increase at the end of the week. 

Summarizing this week, domestic pepper prices fell sharply by VND 1,500 - 2,000/kg compared to the previous week. This is also the 2nd consecutive week of decrease (last week the price decreased slightly by VND 500/kg).

According to the latest report, the import and export situation in the 21 days of May 2023 is growing positively. Accordingly, Vietnam exported 19,637 tons of pepper, with a turnover of $ 58.1 million.

In the first 4 months of 2023, our country exported 103,018 tons of pepper. Only the first 5 months of the year have passed, but Vietnam has exported more than 120,000 tons of pepper.

Thus, today's pepper price on 05/28/2023 in the domestic market is trading around VND 71,500 - 74,000/kg.

$1 = VND 23,290.00 - Source: Vietcombank