Pepper price today October 28, 2022 | Latest pepper price market

Pepper prices today, October 28, decreased by 500 VND/kg in the Central Highlands. Currently, domestic pepper prices fluctuate around 56,000 – 59,000 VND/kg. In the world market, pepper prices have reversed and increased. Accordingly, Lampung black pepper price (Indonesia) increased by 5 USD/ton to 3,665 USD/ton. Muntok white pepper price of Indonesia decreased by 9 USD/ton to 5,931 USD/ton. Meanwhile, pepper prices remained stable in the remaining countries. Specifically, Brazilian black pepper ASTA 570: at 2,600 USD/ton, unchanged. Kuching black pepper (Malaysia) ASTA: at 5,100 USD/ton, unchanged. Malaysian white pepper ASTA: at 7,300 USD/ton, unchanged. Yesterday, the International Pepper Community listed a slight increase in the export price of Indonesian pepper, and kept it unchanged in other markets. Since the beginning of the week, this organization has continuously adjusted the price of Indonesian pepper up and down erratically. Domestically, the pressure of the new crop and the abundant reserves are putting downward pressure on the market. Since the beginning of this week, the USD exchange rate has been on a downward trend, but the prices of agricultural export products, including coffee and pepper, have not benefited, and have even decreased. Explaining this, experts said that the USD has reversed and decreased but has not supported prices because Vietnam’s currency has loosened its exchange rate, which means that exports will increase their selling prices to earn more foreign currency. At the beginning of the trading session on October 27 (Vietnam time), in the US market, the US Dollar Index (DXY) measuring the fluctuations of the greenback with 6 key currencies (EUR, JPY, GBP, CAD, SEK, CHF) fell sharply by 1.21%, down to 109.74. Currently, on forums of Vietnamese pepper growers, pessimism is prevailing. Most opinions say that the market could fall to 50,000 VND/kg when the harvest season begins. The only factor that can support the market can come from China increasing imports to meet consumer demand at the end of the year. Vietnam is the world’s largest pepper producer and exporter, accounting for about 60% of the total pepper output traded worldwide. However, the Vietnamese pepper industry is facing major challenges such as low selling prices, lack of sustainability, and failure to meet the increasingly high requirements of the markets. Ensuring that there are no pesticide residues in exported pepper products is very important. Even China, an important import market for Vietnamese pepper, has increasingly strict requirements on food quality. Therefore, sustainable production of the pepper industry is an important and inevitable task. #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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