| Pepper price today 13/6: The world decreased, the lowest was 68,000 VND/kg. (Source: Ptexim) |
Update world pepper prices
On the world market, at the end of the latest trading session, as of 0:00 on June 13, the spot price of pepper at Kochi – India was at Rs 41,844.45 per quintal (the highest), Rs 41,730 per quintal (the highest). lowest), a slight decrease of 10 Rupees/weight compared to the previous session.
The cross-rate of Vietnam Dong against Indian Rupee applied by the State Bank to calculate export and import taxes effective from June 10-16, 2021 is VND 316.9/INR.
Domestic pepper price
Today’s pepper price in the domestic market traded at 68,000 – 72,000 VND/kg in localities.
Specifically, today’s pepper price in Dong Nai is the lowest in the market at 68,000 VND/kg.
Pepper price today in Gia Lai provinces (69,500 VND/kg); Dak Nong, Dak Lak (70,000 VND/kg); Binh Phuoc (71,000 VND/kg) and Ba Ria – Vung Tau at the highest level is 72,000 VND/kg.
According to the statistics of the General Department of Customs, pepper exports in May 2021 reached 27,963 tons of all kinds, down 4,269 tons, or 13.24% compared to the previous month and down 2,019 tons, or 6.73% compared to the previous month. with the same period last year.
The export value of pepper in May 2021 reached US$ 95.88 million, down US$ 9.34 million, or 8.88% lower than the previous month but increased by US$ 35.52 million, ie an increase of 58. 85% over the same period last year.
The cumulative export volume of pepper in the first 5 months of 2021 reached a total of 121,388 tons of all kinds, down 24,994 tons, or 17.08% lower than the export volume of the first 5 months of 2020. Regarding the value of export turnover. The first 5 months of 2021 reached a total of 379.57 million USD, an increase of 70.87 million USD, or 22.96 % over the same period.
The reason for the decline in pepper exports is that the sea freight rate has increased too high, leading to stalled trade. Meanwhile, the world pepper price increased sharply in May 2021 due to the concern that long-term supply is likely to be short. Not only Vietnam this year has lost its pepper crop, but the upcoming crop in Indonesia is also forecasted to be in a similar situation.
Through the 6 months of 2021, the markets of other countries are balancing the cheap pepper reserves of the previous year. However, closer to the end of 2021, this amount of pepper gradually decreases. Along with that, the new crop output is not enough to compensate.
Therefore, the pepper market in the last 6 months of the year is forecasted to be quite “stressful”. In addition, increased consumption demand due to the Covid-19 epidemic gradually being controlled by vaccines will push up the prices of agricultural products, including pepper, to increase well in the near future.
Global pepper price is forecasted to increase in the near future, but the increase is not large. The reason pepper prices continued to increase was due to a sharp decrease in supply in Vietnam – the world’s largest pepper producer compared to the previous year.
According to BQT
