Pepper price today October 18, 2022 | Latest pepper price market

Pepper prices today, October 18, 2022, domestically and internationally, continue to decline under the pressure of a strong increase in the USD. Domestic pepper is priced at 58,500 – 61,000 VND/kg. In the world market, Pepper prices today tend to decrease compared to yesterday. World black pepper prices continue to decrease in Indonesia and remain stable in Brazil and Malaysia. Accordingly, Lampung black pepper prices (Indonesia) decreased by 0.60%, to 3,692 USD/ton. Kuching black pepper prices (Malaysia) ASTA continued to maintain at 5,100 USD/ton. The price of Brazilian black pepper ASTA 570 is at 2,600 USD/ton. For white pepper, the world market is also on a downward trend. Specifically, the price of Indonesian Muntok white pepper decreased by 0.59%, to 5,976 USD/ton. Meanwhile, the price of Malaysian ASTA white pepper remains at 7,300 USD/ton. Credit tightening measures and interest rate increases in most countries in the world are slowing down the consumption of goods, especially imported goods. The International Pepper Community continues to list lower export pepper prices of countries. This organization assessed that the total global pepper supply in 2022 is estimated at 535 thousand tons, down nearly 3% compared to 2021 and the decrease mainly comes from Vietnam and India. Meanwhile, global consumption demand is lower than every year, especially the decline in purchasing power from the Chinese market, has pushed world pepper prices down. The President of the Indian Pepper and Spice Trade Association (IPSTA) said that Indian pepper prices are rising due to increased festival demand in highland markets and before the Diwali season, especially from spice manufacturers. Currently, more and more companies are starting to produce spices, so demand is expected to increase. Domestic consumption in India is higher than the average monthly requirement of 5,500 tons. Domestic pepper prices continue to fall sharply in the context of the State Bank of Vietnam’s decision to adjust the USD/VND spot exchange rate band from ±3% to ±5%; effective from October 17. Immediately after this adjustment, banks simultaneously increased the USD exchange rate. The high USD continues to cause difficulties for exports and affect global commodity consumption. In particular, spice commodities such as pepper are heavily affected. #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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