Pepper price today September 17, 2022 | Latest pepper price market

Pepper prices today, September 17, continued to decrease in some localities. Currently, domestic pepper prices fluctuate around 64,500 – 67,500 VND/kg. Since the beginning of the week, domestic pepper prices have continuously decreased with a short amplitude. The market continues to worry that the US Federal Reserve (Fed) will strongly raise interest rates at the executive meeting next week, September 20-21. The strong USD has caused the VND to decrease, which has caused Vietnam’s pepper export prices to continuously decrease over the past month. Compared to August 15, Vietnam’s black pepper export price has been listed by the International Pepper Community as a decrease of 400 USD/ton, currently only 3,350 USD/ton for 500g/l black pepper; for white pepper, it has decreased by 300 USD/ton, to 5,300 USD/ton. In fact, we are currently in the “old harvest has passed, new harvest has not yet arrived” stage, but there is no shortage of export goods. In recent price reductions, speculators and large enterprises have taken advantage of large quantities of goods for export. There is also no shortage of supply from Brazil and Indonesia. However, with only more than 3 months left until the end of 2022, the market continues to decline, while the upward trend is unclear due to the high USD. It is expected that from now until the end of the year, the Fed will adjust interest rates at least twice. The prolonged Russia-Ukraine conflict combined with the outbreak of the Covid-19 epidemic has caused inflation to increase globally. Mr. Le Duc Huy – General Director of Dak Lak September 2 Import-Export Company Limited – commented that, in general, pepper output is expected to not be higher than last year. Slow demand makes it impossible for businesses to sell goods; prices may increase but not strongly. Meanwhile, Mr. Phan Minh Thong – Chairman of Phuc Sinh Group – said that pepper prices could increase to 100,000 VND/kg, but at the end of the year, when the old harvest has passed and the new crop has not yet arrived, the market is scarce for export. #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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