| (Source: Food Hacks) |
Update world pepper prices
Today, world pepper prices continued to decline compared to the previous day when they dropped by 100 rupees / quintal. Recorded at 12:15 a.m. on March 26 (Vietnam time), world pepper prices for spot on-line NCDEX Kochi (India) traded at Rs 37,800 / quintal (lowest) and Rs 38,000 / quintal (highest). ).
The cross rate calculated by the Vietnamese Dong against the Indian Rupees (the INR on March 25 was applied by the State Bank of Vietnam was 317.77 VND / INR.
Recently, the International Pepper Association (IPC) issued a warning about the unusual increase in raw pepper prices after the Lunar New Year in Vietnam, making it difficult for the market to predict and affecting processors and producers. exporters and farmers.
Accordingly, 3 weeks after Tet, Vietnamese pepper prices recorded an increase of 40% compared to the time before Tet. According to the report, the amount of pepper traded is limited in the Vietnamese market, and the demand is high to Brazil when the country’s pepper prices are stable and at an acceptable level.
Current supply pressure reminds Vietnam as well as other producing countries about the importance of diversifying processed products from pepper, to add value such as pepper oil, pepper oil … instead of just based on whole pepper.
In contrast to Vietnam, other manufacturing countries are less volatile due to quality differences in products rather than merely quantity.
According to the IPC, the main task of all stakeholders in the pepper industry is to provide more information to farmers on supply and demand so that farmers have better plans.
Forecasts of supply in 2021 are seriously scarce, making the price increase difficult to convince when the crop starts late with only about 30-40% harvested …
Domestic pepper prices
Today pepper prices in the domestic market increased slightly in localities, trading at 72,000 – 75,000 VND / kg.
Specifically, today’s pepper price in Gia Lai, Dong Nai is the lowest on the market at 72,000 VND / kg.
Today’s pepper prices in the provinces of Dak Nong, Dak Lak (72,500 VND / kg); Binh Phuoc (74,000 VND / kg) and Ba Ria – Vung Tau were at the highest threshold of 75,000 VND / kg.
According to the Vietnam Pepper Association (VPA), the 2021 pepper harvest season has only reached the national average of around 40%. It is likely that by the end of April 2021, the 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.
In addition, during this time of increasing pepper prices, the lesson about expanding pepper acreage “massively” in previous years is still valuable. When the world pepper price soared in the 2013–2014 period, many raw material areas “disregarded” the recommendations to expand acreage, creating a global supply that was too large for consumption, so in the period from 2017 Until now, pepper prices have been continuously down.
Therefore, during the time when pepper prices increased abnormally as at present, farmers did not because of the price increase but expanded the area of pepper cultivation as in 2013-2014. In particular, do not grow pepper in areas where there are Inappropriate climatic soil conditions.
The re-cultivation of pepper gardens need to comply with the sustainable development and production process implemented by the local agricultural extension agencies.
According to BQT – Updated at 8h12
