Pepper prices today (November 12) fluctuate between 66,000 – 69,000 VND/kg. Last week, the pepper market tended to go up. Compared to the beginning of the week, key provinces recorded a decrease from 500 VND/kg to 1,000 VND/kg.
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See more: Pepper prices today November 13
Pepper price This week recorded an increase of about 500 – 1,000 VND/kg compared to the beginning of the week in some key provinces.
According to the survey, the lowest price is currently 66,000 VND/kg recorded in Gia Lai and Dong Nai provinces. In particular, pepper prices in Gia Lai increased slightly by 500 VND/kg, but prices in Dong Nai continuously moved sideways during the week.
The two provinces of Dak Lak and Dak Nong are currently purchasing pepper at the same price of 67,000 VND/kg, no change compared to the beginning of the week.
Similarly, pepper prices in Binh Phuoc and Ba Ria – Vung Tau increased by 500 VND/kg and 1,000 VND, respectively, to 68,000 VND/kg and 69,000 VND/kg, respectively.
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According to records, India’s pepper imports in August were unusually high, at 3,800 tons, thereby keeping black pepper prices stable on the domestic market in the world’s most populous country. Compared to the domestic price of 631 rupees/kg for unsorted pepper, imported pepper is only about 600-625 rupees/kg.
According to traders, this has significantly reduced the demand for domestically produced pepper from Kerala, Karnataka and Tamil Nadu.
The Indian Spices and Pepper Traders Association (IPSTA) said pepper imports are at a high level and the farming community alleges that cheap pepper from Vietnam is being sold in the country’s domestic market at a low rate. 3,000 – 3,500 USD/ton compared to 8,025 USD/ton of pepper produced in India.
Pepper demand in the Indian domestic market increased as masala (spice mixture) manufacturers increased purchases ahead of the festive season.
Meanwhile, the Indian Pepper and Spice Growers Association has submitted a memorandum to the Parliamentary Standing Committee seeking measures to increase domestic pepper production.
Indian pepper production stands at 65,000 tons while consumption is 85,000 tons, leading to dependence on imports. India’s 2024 pepper output is forecast to reach around 50,000 tons due to lack of rain and this is expected to spur more imports.
Speculative buying activities in recent times have pushed up pepper prices, but have not brought value to farmers, according to Thehindubusinessline.
At the same time, citing statistics from the International Trade Commission, the Department of Import and Export (Ministry of Industry and Trade) said that in the first 8 months of the year, South Korea imported pepper reached 3.26 thousand tons, down 45%. 5% over the same period last year.
In the first 8 months of this year, Korea imported pepper mainly from Vietnam, reaching approximately 2.97 thousand tons, down 44.6% over the same period and accounting for 91% of the market share. Similarly, Korea’s pepper imports from Malaysia also decreased by 22.8%, reaching only 237 tons.
In contrast, Korea increased pepper imports from Cambodia and India, but the volume was low.
According to VietnamBiz.vn
