Pepper price on 05/30/2023: Strongly increased again

World pepper price on May 30

Pepper prices today on May 30 in the world market decreased slightly in Indonesia but remained stable in other countries.

Accordingly, the price of Lampung black pepper in Indonesia decreased by 0.11% to $3,588/ton. The country's price of Muntok white pepper is down 0.1%, at $6,103/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.

Today's world pepper price being listed by the International Pepper Community decreased slightly and was flat in other markets.

According to statistics from China Customs, the country imported more than 1,000 tons of pepper in March 2023, worth $4.18 million.

Compared to February 2023, China's pepper imports increased by 207.7% in volume, 157.3% in value compared to February 2023. Compared to March 2022, the price increased by 21.8% in volume and 14.1% in value.

In the first quarter of 2023, China's pepper imports from the world reached 1.58 thousand tons, worth approximately $7.25 million, up 9.2% in volume and 9.9% in value compared with the same period last year.

Also as recorded in March 2023, the average import price of Chinese pepper reached $4,175/ton - the lowest level since July 2021, down 16.4% compared to February 2023 and down 6.3% compared to March 2022.

Thus, today's pepper price on 05/30/2023 in the world market decreased slightly in Indonesia compared to yesterday.

Domestic pepper price on May 30

Pepper's price on May 30 in the domestic market increased sharply compared to yesterday.

Specifically, the price of pepper in Dak Lak and Dak Nong today increased by VND 1,000, to VND 74,000/kg;

Today's pepper price in Gia Lai also increased strongly, trading at VND 72,500/kg;

Today's pepper price in Dong Nai is purchased at VND 72,500/kg; an increase of VND 1,000.

The latest pepper price today in Ba Ria - Vung Tau increased sharply to the threshold of VND 75,000/kg;

The price of pepper in Binh Phuoc today, May 30, trading at VND 74,500/kg; increased sharply by VND 1,000.

Domestic pepper prices today simultaneously increased sharply, increasing again to the mark of VND 75,000/kg. And the cause of the increase still comes from concerns about supply shortage. 

Experts said that if the cutting of pepper to switch to fruit trees lasts, maybe in the next 3 years there will be a shortage of pepper supply. If Vietnam's output falls deeply in the next 3 years due to a wave of crop displacement, farmers may lose out.

With the current price, the farmer has made a profit. However, the economic efficiency of this crop is still underestimated compared to many other crops (such as durian). Therefore, pepper trees have not been able to "entice" people to replant.

Thus, today's pepper price on 05/30/2023 in the domestic market is trading around VND 72,500 - 75,000/kg.

$1 = VND 23,285.00 - Source:Vietcombank