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SUPPLY DECREASES, PEPPER PRICES WILL GO UP 


17 July, 2023 

 

Pepper's prices in the domestic market continues to exhibit a sideways trend today, July 17th, 2023. The global market is currently "waiting" for information regarding this year's harvest in Indonesia, which has just begun. Initial predictions suggest a potential decrease in production, and European and American importers are expected to increase their purchases to compensate for their reserve stocks.


Domestic market
Pepper price todayon July 17th, 2023, in the domestic market, continue to follow a sideways trend. Specifically, in the Central Highlands region, traders are purchasing pepper at around 67,000 - 68,000 VND/kg.

Specifically, the price of pepper in Chu Se (Gia Lai) is being purchased by traders at 67,000 VND/kg. The price of pepper in DakLak and DakNong is maintained at 68,000 VND/kg.

In the southeastern region, the price of pepper today remains unchanged compared to yesterday. Currently, the price of pepper in this region is being purchased at around 68,500 – 70,000 VND/kg.

Specifically, in Dong Nai, the price of pepper is at 68,5000 VND/kg. In Binh Phuoc, the price of pepper is 69,000 VND/kg. Ba Ria Vung Tau continues to have the highest price, with traders purchasing pepper at 70,000 VND/kg today.



Therefore, pepper prices in the domestic market continue to exhibit a sideways trend today. Currently, the highest price for pepper is being purchased at 70,000 VND/kg in Ba Ria Vung Tau.

Regarding, the import-export situation of pepper in June and the first six months of 2023, the US has returned to being the largest importer of pepper from Vietnam in June 2023. This implies a decrease in purchases from China.

In the first months of the year,
 Vietnam exported 152,678 tons of various types of pepper, an increase of 29,123 tons compared to the same period last year. It is forecasted that in the remaining six months of 2023, Vietnam will need about 100,000 tons of various types of pepper for export. However, domestic supply is low, and businesses will have to import a significant amount of pepper to meet the demand. 

Along with this, 
experts expect that the US and European markets, after reducing their purchases to use up their reserve stocks, will increase their pepper purchases. These two factors are expected to drive up pepper prices in the later months of the year. 

Global market
In the global market, according to the International Pepper Community (IPC), the latest trading session concluded with black pepper prices in Lampung (Indonesia) at $3,740/ton and white pepper prices in Muntok at $6,474/ton.

For other countries, 
prices remain unchanged. The black pepper price in Brazil ASTA 570 stands at $3,050/ton, black pepper in Kuching (Malaysia) ASTA is $4,900/ton, and white pepper in Malaysia ASTA remains at $7,300/ton.

Vietnam's black pepper is trading at $3,500/ton for 500 g/l and $3,600/ton for 550 g/l. White pepper is priced at $5,000/ton.


The market is 
currently "waiting" for information on this year's harvest in Indonesia, which has just begun. Initial predictions suggest a potential decrease in production, and European and American importers are expected to increase their purchases to replenish their reserve stocks.


Origin: Cong Truong magazine 

 
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