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| Pepper price today November 16, 2023, the market is warming up, the export price of Vietnamese pepper is increasing again. (Source: Cookist) |
Pepper prices today, November 16, 2023, in the domestic market continued to increase in some key localities, trading from 67,500 - 70,700 VND/kg.
Specifically, pepper price today in Gia Lai is at 67,500 VND/kg.
Pepper prices today in Dong Nai province (67,500 VND/kg); Dak Nong, Dak Lak (68,500 VND/kg); Binh Phuoc (69,500 VND/kg) and Ba Ria - Vung Tau are at the highest level of 70,500 VND/kg.
Commenting on the market last week, the Vietnam Pepper and Spices Association (VPSA) said that after 3 weeks of negative trends, the market showed mixed reactions.
Accordingly, Indian pepper prices continued to decline. After 3 weeks of stability, domestic pepper prices in Sri Lanka decreased last week.
In Southeast Asia, after two weeks of decline, both domestic and international pepper prices of Indonesia recorded an increase last week due to the impact of the Indonesian Rupiah gaining 1% against the USD (IDR 15,623/USD).
In the context of the Malaysian Ringgit increasing by 1% against the USD (4.68 MYR/USD), domestic pepper prices in Malaysia recorded an increase last week. Meanwhile, the export price of Malaysian pepper remained stable and unchanged.
In Vietnam, only domestic black pepper prices recorded an increase. Meanwhile, other types remained stable and unchanged.
According to the latest report of the Import-Export Department (Ministry of Industry and Trade), in the third quarter of 2023 compared to the second quarter of 2023, Vietnam's pepper exports to all regions decreased. The lowest decrease was 9.5% in Europe; the highest decrease was 38.3% in Oceania.
Meanwhile, compared to the third quarter of 2022, Vietnam's pepper exports in the third quarter of 2023 to most regions decreased, except for Asia, which increased by 24.4%.
Also during this period, Vietnam's pepper exports to many markets decreased compared to the second quarter of 2023, but to markets such as India, Korea, Russia, etc. increased.
Compared to the third quarter of 2022, pepper exports to the US, Netherlands, and United Arab Emirates (UAE) markets decreased; on the contrary, exports to China, India, Germany, South Korea, and Russia increased sharply.
In addition, exports of most pepper varieties decreased, except for ground white pepper, which increased by 11.1%. Compared to the third quarter of 2022, exports of most pepper varieties decreased, except for white pepper, which increased by 9.5%.
Preliminary statistics from the General Department of Customs show that Vietnam's pepper exports in October 2023 increased again, reaching 19,401 tons, up 7.1% compared to September and up 11.6% over the same period in 2022. The turnover reached 73.18 million USD, up 8.4% compared to September and up 10.6% over the same period in 2022.
Accumulated in the first 10 months of 2023, pepper exports reached 225,438 tons, up 17.5% over the same period in 2022; turnover reached 755.63 million USD, down 9.7%.
The average export price of pepper in October 2023 increased again, reaching 3,772 USD/ton, up 1.2% compared to September 2023, but still down 0.8% compared to the same period in 2022. In the first 10 months of 2023, the average export price of pepper reached 3,352 USD/ton, down 23.1% compared to the same period in 2022.
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