Pepper price today May 30, 2022 | Latest pepper price market

Pepper prices today, May 30, 2022, in the domestic market remained stable at 70,000 – 73,000 VND/kg. Last week, domestic pepper prices dropped sharply from 2,000 – 2,500 VND/kg. The domestic pepper market was gloomy, following the general trend of other countries, when the World Pepper Community reported that the whole week recorded a rather negative outlook, with no source increasing points. In particular, the too high USD exchange rate weighed on pepper prices. In summary, in May 2022, domestic pepper prices decreased by 5,500 – 6,000 VND/kg, at times breaking the 70,000 VND/kg mark. At the end of the month, positive information from the bustling Shanghai port and Chinese traders actively asking to buy goods helped pepper prices recover slightly. So the question is, has the market bottomed out yet? According to experts, in May 2022, there are 3 main factors pushing pepper prices down. One is the exchange rate, which reduces global demand. Two is that exports are sufficient for June and then turn around to suppress domestic pepper prices. Three is that China continues to restrict pepper imports due to Covid-19. In June 2022, this is the time for speculators to catch the bottom. Since the beginning of the year, there have been many rumors that China has increased purchases, but actual output statistics to this market are very low. Each time like that is an opportunity for domestic speculators to manipulate the price of this item. In terms of the market, China is no longer in the top 10 largest pepper import markets of Vietnam. However, if export output is restored to the level before Covid-19, this will be a factor pushing pepper prices up sharply. The International Pepper Association assesses that the outlook for pepper prices in the medium and long term is still relatively positive because output is forecast to continue to decrease by about 3% this year. It could even decrease further because crop reports from Vietnam, Cambodia and Sri Lanka all decreased by 10% – 20%. #pepper #hotpepper #news #nongnghiep #nhanong #mientay #taynguyen

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