Pepper price today September 19, 2022 | Latest pepper price market

Pepper prices today, September 19, remained stable compared to yesterday. Currently, domestic pepper prices fluctuate around 64,500 – 67,500 VND/kg. Currently, Pepper prices today in the domestic and world markets are quite stable. However, under the pressure of a strong increase in the USD and high expectations of the Fed raising interest rates, the world pepper market may decrease in the coming time. The Fed’s continuous increase in interest rates to limit inflation has pushed USD back into the US. This has caused many countries to lack USD and forced them to restrict foreign currency for importing non-essential goods, including pepper. Some countries such as Pakistan and Egypt, which have been major pepper export markets for Vietnam in recent years, are facing this situation. Leading economic experts are concerned that the simultaneous increase in basic monetary interest rates by many central banks around the world will further aggravate the global economic recession. According to experts, weak demand is still a factor holding back the recovery of pepper prices in the coming months. Especially the two markets of Europe and the US, which are the largest pepper consumers in our country. Forecasting global pepper output in 2022, Nedspice (Netherlands), a spice processing and distribution company with branches worldwide – including in Vietnam and India, pegged global pepper output at 509,000 tons in 2022. However, combined with the remaining reserves, Nedspice’s current pepper output as of early August reached 576,000 tons, higher than the 520,000 tons of global demand. The crop failure in Vietnam due to unfavorable weather is expected to balance the crop in other pepper producing countries. Nedspice added that a potential slowdown in demand due to sufficient stocks in consuming countries could also offset a smaller crop in Vietnam. As a result, the market is fragile and prices could be volatile. According to Nedspice, Vietnam’s pepper output is estimated to fall by more than 6% to 188,000 tonnes. Meanwhile, output in Brazil, the second largest producer, is likely to increase by 10% to 98,000 tonnes this year, while the next largest producer, India, is expected to see a slight increase to 68,000 tonnes. #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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