Pepper price today September 29, 2022 | Latest pepper price market

Pepper price today September 29, 2022 | Latest pepper price market Pepper price today September 29 in the domestic market remained stable. In the world market, Indonesian and Indian pepper prices continuously decreased. In the world market, in the trading session on September 28, the World Pepper Community listed a decrease in prices for Lampung black pepper (Indonesia) and ASTA Indian black pepper. Accordingly, Indonesian Lampung black pepper decreased to 3,824 USD/ton, down 22 USD/ton compared to yesterday. Indian black pepper decreased by 8 USD/ton to 6,309 USD/ton. Meanwhile, Malaysian black pepper and Vietnamese black pepper were stable at 5,900 USD/ton and 3,350 USD/ton, respectively, while Brazilian black pepper was stable at 2,650 USD/ton. Regarding white pepper, the World Pepper Community kept the same price for Vietnamese white pepper (5,300 USD/ton) and Malaysian white pepper (7,600 USD/ton), while listing a decrease of 36 USD/ton to 6,215 USD/ton for Muntok pepper (Indonesia). According to the International Pepper Community (IPC), 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 demand is weaker than every year, especially the decline in purchasing power from the Chinese market. It is forecasted that in the short term, world pepper prices will continue to decrease due to the strong increase in the USD when there is great expectation that the US Federal Reserve (Fed) will raise interest rates. The Fed’s continuous increase in interest rates to limit inflation has pushed the 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. Weak consumption demand is still a factor holding back the recovery of pepper prices in the following months, especially in the two major pepper consuming markets in the world, Europe and the US. In the domestic market, in September 2022, pepper prices also fell sharply due to difficulties in output. Brazil is entering the pepper harvest season, with export prices more competitive than Vietnam’s offering prices by about 200 – 300 USD/ton. #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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