| Pepper prices today March 25: The world continued to plunge, with the lowest domestic price of VND 71,000 / kg. (Source: Public Goods Blog) |
Update world pepper prices
World pepper prices today continued to decline sharply compared to the previous day when they fell to Rs 300 / quintal. Recorded at 12:15 on March 25 (Vietnam time), world pepper prices for spot on the online floor NCDEX Kochi (India) traded at Rs 37,800 / quintal (lowest) and Rs 38,100 / quintal (highest). ).
The cross rate calculated by the Vietnamese Dong against the Indian Rupee (the INR on March 23 was applied by the State Bank of Vietnam was 317.98 VND / INR.
From the beginning of March until now, pepper prices in producing countries have fluctuated up and down, mainly in price increases. The reason is said to be because China buys a lot, people keep goods, so the supply is limited.
For example, in Malaysia, the export price of black pepper on 18/3 increased by 2.6% compared to the previous one, nearly 1 month, to 3,950 USD / ton; Export white pepper prices soared to USD 5,300 / ton.
Meanwhile, in India, the export price of black pepper increased by 4.7%, up to 5,073 USD / ton. In Indonesia, export prices of black and white pepper in mid-March 2021 also increased significantly compared to February 2021, reaching $ 3,015 / ton and $ 5,489 / ton.
Domestic pepper pricesToday pepper prices in the domestic market increased slightly in localities, trading at VND 71,000 – 74,000 / kg.
Specifically, today’s pepper prices in Gia Lai, Dong Nai were the lowest on the market at VND71,000 / kg.
Currently, the price of white pepper increased sharply by 32% compared to the end of February 2021, to 103,000 VND / kg, if compared with the same period in 2020, it increased by 74.6%. Although the price of black pepper decreased from its peak (VND79,500 / kg), it was still higher than the same period last month and the same period last year.
According to the Vietnam Pepper Association (VPA), the pepper market in early 2021 had unusual fluctuations in prices right during the 2021 harvest season. However, the price of pepper increased while the export price was not yet. corresponding increase.
Mr. Le Duc Huy, Deputy Director of Dak Lak 2-9 Import-Export Co., Ltd. said that one of the reasons leading to the increase in pepper prices in recent years is due to lower pepper output this year. In comparison with previous years, there was speculation on the market, leading to higher raw material prices than export prices.
The accumulation of large reserves of pepper will pose many risks when the market for pepper prices is not stable. Farmers and investors need to be careful and consider carefully in storing pepper.
According to Mr. Nguyen Nam Hai, VPA President, in recent years, the demand for pepper consumption for food processing and as raw materials for other industries has increased as the global Covid-19 epidemic has gradually increased. is controlled, combined with the supply of producing countries decreased due to the effects of climate change.
This is also the driving force for the price of pepper to increase in the coming time, but it cannot increase abnormally and “hot” like the price of raw material in Vietnam at the moment.
Besides, the pepper harvest season in 2021 only reaches the national average of about 40%. It is likely that by the end of April 2021, the new crop will basically be harvested. Therefore, speculation, collection and storage of pepper in the present time always has many potential risks if the price drops.
Therefore, investors need to calculate the market properly. Especially, for farmers, it is necessary to consider selling at the right time and efficiency, not because of the price increase, but harvesting green, borrowing from banks or other sources of loans to store goods, avoiding market risks. field prices down.
According to BQT (post at 7h08)
