Pepper price today October 23, 2023, traders push sales, pepper is under a lot of pressure, market assessment at the end of the year

Pepper prices today in the domestic market are stable in some key localities, trading from 67,500 - 71,000 VND/kg.

Giá tiêu hôm nay 23/10/2023, thương lái đẩy mạnh bán hàng, hồ tiêu chịu nhiều áp lực, nhận định thị trường cuối năm

Pepper price today October 23, 2023, traders push sales, pepper is under a lot of pressure, year-end market assessment. (Source: Black Pepper Plant)

Pepper prices today in the domestic market are stable in some key localities, trading from 67,500 - 71,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 67,500 VND/kg.

Pepper prices today in Dong Nai province (69,500 VND/kg); Dak Nong, Dak Lak (69,000 VND/kg); Binh Phuoc (70,500 VND/kg) and Ba Ria - Vung Tau are at the highest level of 71,000 VND/kg.

Overall, over the past two months, pepper prices have been under pressure due to slowing import demand from the US, European Union (EU), and Chinese markets, in the context of high USD and inflation. Meanwhile, in October 2023, the new coffee harvest began, and traders are stepping up sales to invest in this agricultural product.

In addition, the war in the Middle East continues to push up gold and crude oil prices, thereby affecting agricultural markets, including pepper.

Last week, the Vietnam Pepper and Spice Association also announced import-export data for the first half of October 2023. Accordingly, Vietnam exported 7,023 tons of pepper, with a total export turnover of 27.2 million USD.

In the opposite direction, Vietnam imported 809 tons, of which black pepper reached 776 tons and white pepper reached 33 tons, with a total import turnover of 2.5 million USD.

According to the latest report of the Import-Export Department ( Ministry of Industry and Trade ), in the first 9 days of October 2023, the export price of black and white pepper in Indonesia decreased; prices in Brazil and Vietnam were stable.

The global pepper market is not expected to improve in the final months of the year. Despite positive news about pepper harvests in producing countries Indonesia and Brazil, most countries have recorded a decrease in exports due to low global market demand, with importers having almost purchased enough goods at the moment.

In the last two months of this year, pepper imports from markets are likely to continue to decrease due to low demand, economic recession and inflation remaining at high levels.

However, there is still some positive news in the market. In India, domestic pepper prices may increase as the market enters the festive season – the peak season for pepper consumption.

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