Pepper price today 11/20/2023: Price maintained at VND 71,000/kg

Pepper prices on November 20 in the world

In the world, the pepper market price on November 20 remained unchanged in all countries.

Accordingly, the price of Lampung black pepper in Indonesia remained at $ 4,128/ton. The price of this country's Muntok white pepper is anchored at $ 6,254/ton.

Malaysia's Kuching ASTA black pepper price remained stable at $ 4,900/ton; This country's ASTA white pepper is still priced at $ 7,300/ton.

For the Brazilian market, the price of ASTA 570 black pepper remained at $ 3,100/ton.  

In Vietnam, the export price of black pepper grades 500 and 550 g/l are $ 3,500 and $ 3,600/ton, respectively. The export price of white pepper remained at $ 5,100/ton.

World pepper prices have no new price fluctuations. Last week, the international pepper market fluctuated in opposite directions. 

Specifically, after being reported to decrease in the past 2 weeks, Indian pepper prices tended to increase this week. Meanwhile, domestic and international Indonesian pepper prices are stable. 

Over the past week, the USD fell sharply, as lower-than-expected US inflation data released on November 14 and 15 boosted market expectations. They expect that the Fed will cut interest rates. The falling USD price rate creates opportunities for commodity exchanges to recover, including pepper.

In addition, consumer demand in the last months of the year also pushed markets to increase imports. 

Thus, world pepper prices on 11/20/2023 are flat compared to yesterday.

Pepper prices on 11/20 in the country

Domestically, the pepper market on November 20 remained stable compared to yesterday.

Specifically, Dak Lak and Dak Nong are purchasing at VND 69,000/kg;

In Gia Lai, pepper prices are still trading at VND 68,000/kg;

In Dong Nai, traders continue to buy at VND 68,000/kg;

The latest pepper price in Ba Ria - Vung Tau remains around VND 71,000/kg;

Binh Phuoc is still trading at around VND 70,500/kg.

Domestic pepper prices today are stable, with the highest price level reaching VND 71,000/kg. Last week, the domestic pepper market increased sharply to VND 2,500/kg.

Compared to a year ago, pepper prices are about VND 10,000/kg higher. Although the above price does not guarantee as much profit as expected, it also gives pepper farmers new hope.

The Vietnam Pepper and Spice Association said that in the first 15 days of November 2023, Vietnam exported 9,570 tons of pepper, and the total pepper export turnover reached $ 36.9 million.

The US, China and UAE are the three main pepper export markets in the first half of November with export volumes reaching 1,572 tons, 993 tons, and 636 tons, respectively. Notably, the US and China are the two markets that increased Vietnam's pepper imports compared to the first half of last month.

Also in the first 15 days of October 2023, Vietnam exported 7,023 tons of pepper. Of which export to the US reached 1,132 tons, export to China reached 566 tons.

Meanwhile, Vietnam imported 1,378 tons of pepper, total import turnover reached $ 4.7 million, of which imports from Brazil accounted for 64.7%, reaching 891 tons. Also in the first 15 days of October 2023, Vietnam imported 809 tons of pepper, mainly from Brazil and Indonesia.

Thus, the domestic pepper price on 11/20/2023 is trading around VND 68,000 - 71,000/kg.