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

Pepper prices today, October 23, remained stable in localities. Last week, domestic pepper prices decreased by VND2,500/kg, the sharpest decrease since the beginning of the month. Last week, domestic pepper prices sharply decreased by VND2,500/kg in key growing areas. Since the beginning of October, domestic pepper prices have decreased by VND6,000 – 6,500/kg, the sharpest decrease since the beginning of the year. Since the beginning of the year, the market has lost nearly VND30,000, making farmers “restless” in the context of the new harvest approaching. On a global scale, the international pepper community assessed that the market this week continued to show negativity, with no country reporting an increase in the past 3 weeks. After reporting a downward trend in the past 4 weeks, Indian pepper prices have stabilized this week. As the Indonesian Rupiah weakened against the US, the country’s pepper export prices continued to fall. Pepper continues to be under pressure from the US dollar, which is still at a record high, and the new crop harvest from Vietnam, while world demand has not shown signs of improvement by the end of the year. In that context, the Vietnam Pepper Association said that in the first 16 days of October 2022, Vietnam exported 7,158 tons of pepper, with an export turnover of 27.2 million USD. Vietnam is the world’s largest pepper producer and exporter, accounting for about 50-60% of the total pepper output traded worldwide. However, the pepper industry is facing major challenges, including a lack of sustainability and failure to meet the increasingly high requirements of the markets. In the short term, world pepper prices are forecast to continue to decrease due to the strong increase in the US dollar. Weak consumption demand is also considered a factor holding back the recovery of pepper prices in the following months, especially in the US and Europe – the two largest pepper consuming markets in the world. #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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