Pepper price today September 23, 2022 | Latest pepper price market

Pepper prices today, September 23, in the domestic market continue to move sideways. Currently, pepper prices remain low due to pressure from many sides. The domestic pepper market is still quite stable. However, with the negative impact from the world market, it is very likely that domestic pepper prices will decrease in the near future. At a recent meeting on September 22, the US Federal Reserve Bank (FED) announced the next interest rate hike. Accordingly, the Fed increased the monetary interest rate by 0.75 percentage points. This is the 5th interest rate hike this year and the 3rd consecutive time the FED has increased interest rates by 0.75 percentage points. The above information continues to negatively affect commodity prices in general and pepper in particular. The high USD causes this currency to flow back into the US, leading to many countries lacking USD and being forced to restrict foreign currency for importing non-essential goods. Yesterday, the International Pepper Community listed a reduction in the export price of Indonesian pepper, keeping it unchanged in other countries. In addition to the high USD, pepper prices are also being negatively affected by inflation and economic recession globally. The above factors make commodity prices expensive. People’s income is only focused on staple foods, pepper is a spice, and will be “removed from the table” first when it is cut. This means that demand is weakening. In addition, China’s maintenance of the Zero Covid policy and strengthening of disease prevention measures also prevents a large amount of pepper from being exported to this market. The above 3 reasons are the main factors causing pepper prices to continuously decrease for the past 3 months, although the positive information is that supply has decreased, it is not enough to pull the market back. Nedspice recently pegged global pepper production at 509,000 tonnes in 2022, with Vietnam’s output estimated to decline by more than 6% to 188,000 tonnes. A potential slowdown in demand due to sufficient stocks in consuming countries could also offset a shortfall in Vietnam. #pepper #pepper #news #agriculture #nhanong #mientay #taynguyen #pepper #pepper price today #pepper price #pepper today #udaklak pepper price #ubinhphuoc pepper price #dongnai pepper price #freshest pepper price today #freshest pepper price #vungtau pepper price #gialai pepper price #udaknong pepper price

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