Pepper price today October 16, 2022 | Latest pepper price market

Pepper prices today, October 16, 2022, in the country are being purchased around 59,500 – 62,000 VND/kg. This week, the domestic pepper market is ‘dismal’ when it drops by 2,000 VND/kg. In the world market, Pepper prices today are unchanged compared to yesterday. This week, the pepper market continues to react negatively when no country increases prices. High US inflation, the US dollar continues to be strong, while exports decline and the upcoming new harvest in Vietnam are the factors that are causing world pepper prices to continuously decline. Due to the weakening of the Indian Rupee against the US dollar, Indian pepper prices continue to be reported with a downward trend in the past 4 weeks. The stronger US dollar is the main reason for holding back pepper prices and pepper consumption demand in the world. The Fed’s continuous increase in interest rates to limit inflation has pushed the US dollar back into the US. This has caused many countries to lack USD and have to restrict foreign currency for importing non-essential goods, including pepper. Weak consumption demand is still a factor holding back the recovery of pepper prices in the following months, especially in the two major consumer markets in the world, Europe and the US. The domestic pepper market today has no new fluctuations. To summarize this week, domestic pepper prices have decreased sharply. In particular, pepper prices in Dong Nai and Binh Phuoc decreased sharply by 1,000 VND/kg; Dak Lak, Dak Nong and Ba Ria – Vung Tau decreased by 1,500 VND/kg; and Gia Lai decreased the most, with 2,000 VND/kg. The domestic market is facing the risk of massive sales when it has just broken the 60,000 VND/kg mark. China’s demand for pepper imports has seriously decreased, causing domestic pepper prices to continuously decrease. In that context, the Vietnam Pepper Association and businesses have promoted sales to other potential markets, focusing on Northeast Asia and Europe. In order to support Vietnamese pepper exporting businesses to penetrate deeply into the French market, recently, the Vietnam Pepper Association coordinated with the French Chamber of Commerce and Industry (CCI) and the Vietnamese Embassy in France to organize a trade meeting connecting customers with importer partners of this country. The workshop was attended by leaders of the Vietnam Pepper Association, more than 30 member businesses, and 35 French businesses. A lot of information about the pepper processing industry was shared by Vietnamese businesses to help importers better understand the Vietnamese pepper industry. Businesses of the two countries also exchanged information directly with each other to connect and cooperate in buying and selling in the future. #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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