Pepper price today November 11, 2022 | Latest pepper price market

Pepper prices today, November 11, continued to trend sideways. Currently, domestic pepper prices fluctuate around 58,500 – 62,000 VND/kg. In the world market, Lampung black pepper prices increased by 7 USD/ton to 3,651 USD/ton; Brazilian black pepper ASTA 570 is at 2,575 USD/ton. Indonesian Muntok white pepper prices are at 5,909 USD/ton, up 11 USD/ton. Meanwhile, pepper prices remain 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. In Vietnam, black pepper prices are at 3,250 – 3,350 USD/ton for 500 g/l and 550 g/l; white pepper prices are 4,850 USD/ton. The International Pepper Community believes that the world will face a global recession in 2023. In that context, challenges are posed for all industries, including pepper. According to the third quarter 2022 report of the global pepper industry, negative factors that reduce pepper prices include: Interest rates continue to increase to curb inflation; war in Ukraine pushes up prices of essential goods; the European energy crisis and the global credit crisis have caused most domestic consumer currencies to depreciate, leading to higher import costs. Along with that, the Chinese market still implementing the “Zero Covid” policy has eroded demand for pepper. The harvests of Brazil and Indonesia, unsold inventories in Vietnam after China’s “lockdown”, as well as reduced demand from Western European countries and the United States, have caused the pepper industry to suffer. The International Pepper Community assessed that global supply is expected to be at a safe level when recording Brazil’s harvest and high reserves. This organization advised selling and buying in batches instead of speculating too much. At the same time, increase promotion in other potential markets to offset the excess inventory caused by China. #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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