| Over the past time, pepper prices have continuously increased, but the amount of pepper traded on the market has decreased sharply. |
Update world pepper prices
On the world market, at the end of the most recent session, the spot price of pepper at Kochi – India was at Rs 39,600 / quintal (highest) and 39,500 rupees / quintal (lowest), down by 100 rupees / quintal. with the previous session.
The cross rate of Vietnam dong against the Indian Rupee (INR) on April 23 was applied by the State Bank to calculate the import and export tax at 307.65 VND / INR.
Domestic pepper prices
Today’s pepper prices in the domestic market were traded at VND 65,000 – 69,000 / kg locally.
Specifically, today’s pepper price in Gia Lai, Dong Nai is the lowest on the market at 65,000 VND / kg.
Today’s pepper prices in the provinces of Dak Nong, Dak Lak (67,000 VND / kg); Binh Phuoc (68,000 VND / kg) and Ba Ria – Vung Tau were at the highest threshold of 69,000 VND / kg. Pepper prices increased, but transactions fell sharply
According to a recent article in Dak Nong Newspaper, recently, the price of pepper has continuously increased, but the amount of pepper traded on the market has decreased sharply. According to some investors, the cause of this situation is that many people and businesses are waiting for higher prices to rise.
Currently, most farmers in Dak Nong province have basically finished harvesting the pepper crop. Although at the time of price gain, many people have not yet exported pepper, with the expectation that the price will continue to increase.
Ms. Tran Thi Quyen’s family, in Dak Song district, has just finished harvesting the pepper crop from 2020-2021. According to Ms. Quyen, with 3 hectares of pepper, her family harvested more than 10 tons of seeds. Because she needed money to cover her daily expenses, her family sold 5 tons of dried pepper for VND 80,000 / kg. The rest of the pepper, her family kept in storage, is not in a hurry to sell, because she waits for the price to rise.
And Ms. Ta Thi Bang, business owner buying agricultural products Quang Vinh (Dak Song), said that this time last year, the enterprise sold about 7,500 tons of pepper. However, this year, the purchase and sale of pepper has been quiet, even though the price is much higher.
Specifically, this year, Ms. Bang only sold 3,500 tons of dry pepper and only a few hundred tons left in the warehouse. The main reason is that many people still “hoard” the goods to wait for the price to rise.
In Dak R’lap district, Mr. Huynh Van Ngoc, owner of a business buying agricultural products Kim Ngoc, also said that this year, the amount of pepper traded on the market decreased significantly compared to 2020.
Specifically, at the same time last year, businesses purchased more than 1,500 tons of pepper. However, this year, the company has just purchased about 700 tons of dried pepper, down half ..
According to the Department of Agriculture and Rural Development of Dak Nong province, at present, the demand for pepper in the world is about 510,000 tons / year. Over the years, the demand for pepper on the world market has increased by an average of 2-3% / year. And the annual global pepper output increases by 8-10%. This also means that the world supply of pepper is still much higher than demand.
The high price of pepper stimulates small investors and a part of people to buy and sell. As for large investors, almost no this situation, because according to them, “hoarding” goods in the present time is a very risky “move”.
If pepper comes in from abroad, the price of pepper is likely to fall. The speculation and “hoarding” of goods are currently at a high level and the selling price may drop sharply in the near future.
Vietnam pepper reserves are accounting for about 50-60% of the world market share. Therefore, when people and investors “hoard” the goods, it will have a huge impact on the market.
“Hoarding goods also means hopping capital. This is difficult for anyone to maintain for a long time, ”said a business owner.
According to BQT
