| Pepper prices today March 24: The world fell sharply, the highest was VND 73,000 / kg. (Source: AdobeStock) |
Update world pepper prices
World pepper prices today fell sharply from a day earlier when they fell to Rs 125 / quintal. Recorded at 12:15 on March 24 (Vietnam time), world pepper prices for spot on the online floor NCDEX Kochi (India) traded at Rs 38,075 / quintal (lowest) and Rs 38,225 / quintal (highest). ).
The cross rate calculated by the Vietnamese Dong against the Indian Rupees (the INR on March 23 was applied by the State Bank of Vietnam was 318.25 VND / INR.
According to the International Pepper Organization (IPC), pepper exports worldwide in 2020 will reach more than 459,000 tons, an increase of 2% compared to 2019. In which, Vietnam’s pepper export volume reaches more than 282,000 tons, equivalent to nearly 60% of the whole world.
On the world market, in February 2021, the price of black pepper for export increased in most major producing countries, except Indonesia. Export white pepper prices increased sharply in producing countries such as Vietnam, Malaysia and Indonesia.
Global pepper production will reach more than 660,000 tons by 2020, is forecast to increase to 1 million tons by 2050, and world demand for pepper also increases, but not in balance with the supply.According to calculations, world demand is currently 510,000 tons of pepper / year and an average annual increase of only 2-3%, while global pepper output increases 8-10%.
Therefore, experts recommend that pepper prices can remain volatile for many more years.
Domestic pepper prices
Today’s pepper prices in the domestic market continued to decline in localities, trading at VND 69,000 – 73,000 / kg.
Specifically, today’s pepper price in Gia Lai was the lowest in the market at VND69,000 / kg.
Today’s pepper prices in Dong Nai provinces (70,000 VND / kg); Dak Nong, Dak Lak (71,000 VND / kg); Binh Phuoc (72,000 VND / kg) and Ba Ria – Vung Tau were at the highest threshold of 73,000 VND / kg.
In this year’s crop, pepper growers in Binh Phuoc have to hire workers to pick pepper at quite high prices, from 180,000 to 220,000 VND / person / day. Farmers growing pepper calculate, if the pepper crop only yields 2 tons / ha, after subtracting costs, the farmer will not be profitable.
Mr. Bui Quoc Hai – Chairman of Hung Phuoc Sustainable Pepper Cooperative, Hung Phuoc Commune, Bu Dop District, Binh Phuoc Province, said: “With the current price, many members of the cooperative have not sold because The cost is not enough, so it is still waiting until the pepper growers have a reasonable price to sell ”.
Referring to the current status of pepper development in Binh Phuoc province, the representative of the local Department of Agriculture and Rural Development said that Binh Phuoc is one of the localities with the largest pepper area in the country with more than 16,000 hectares. , exceeding the plan more than 2,000 ha.
The area of pepper in the province has decreased dramatically over the past 3 years because prices are always at the bottom. Many gardeners can not resist and have to switch to fruit trees. The rest of the balance lacks investment, leading to weakening, leading to epidemic diseases, a decrease in productivity and output.
In order to overcome the chorus of “winning the price and losing the crop”, the province’s agricultural sector has implemented the policy of planning and producing pepper towards sustainable organic and biological orientation that meets international standards. At the same time, building a chain from production to product consumption, so the pressure on prices and markets has been reduced.
With pepper storage, some households in the province now expect pepper to increase further. However, this situation also easily leads to an imbalance between supply and demand in the market.
A leader of Binh Phuoc Department of Agriculture and Rural Development said: “Rising pepper prices have become news in Binh Phuoc. In this locality, people grow pepper and the house grows pepper, so their lives “go up and down” according to the price of pepper, the high price makes the whole village happy, while the low price makes the whole village sad “.
Facing strong fluctuations in prices, the Vietnam Pepper Association (VPA) recommends: At present, people have just started to harvest heavily, it is expected that by the end of April, it is expected to end. At that time, the production increased and the Cambodian pepper flooded, the price might not be the same as now. Farmers should consider selling at the right time, not because the price increases, but borrowing hot to store goods, avoiding the risk of falling prices.
According to BQT (Post at 7:05)
