The latest update of pepper prices on May 27, 2020 showed that pepper prices continuously increased sharply and returned to the 50,000 VND / kg mark after a long time.
Harvesting pepper in Binh Phuoc. Photo: Tran Trung
According to information from some pepper traders, on May 26, the price of pepper continued to increase sharply by 1,000-1,500 VND / kg. Specifically: in Ba Ria – Vung Tau 48,500 VND / kg; Binh Phuoc 47,000 VND / kg; Dak Lak and Dak Nong with 46,500 VND / kg; Gia Lai 46,000 VND / kg.
In the morning of 27/5, the price of pepper increased sharply again and reached 50,000 VND / kg in Ba Ria – Vung Tau. Information from the Vietnam Pepper Association shows that, the last time, the price of 50,000 VND / kg was January 2019, after which it lost this landmark. Thus, after nearly one and a half years, the new pepper was traded at 50,000 VND / kg.
In other localities, pepper prices have also approached the milestone of VND 50,000 / kg. Specifically: Dak Lak 49,000 VND / kg; Dak Nong VND 49,000 / kg; Binh Phuoc VND 49,000 / kg; Gia Lai 48,500 VND / kg; Dong Nai 48,000 VND / kg.
Mr. Hoang Phuoc Binh, Vice President of Chu Se Pepper Association (Gia Lai), said that, although at the same price of 50,000 VND / kg, but the current time is very different from in January 2019. Because back then, pepper prices were down, from over 50,000 VND / kg, to 50,000 VND / kg and then dropped further. For now, pepper prices are on an uptrend.
Also according to Mr. Binh, the price of pepper increased sharply in recent days, which made many businesses surprised. However, the price increase is not a factor of supply and demand.
Currently, pepper supply is still not lower than demand. But when the Covid-19 epidemic subsided, many customers had a need to buy a small amount of pepper, but pepper among the population was still small, mainly in the warehouses of dealers and businesses. These facilities have enlisted to buy when pepper prices are low. Therefore, to buy pepper at this time, buyers have actively raised prices.
The fact that many farmers neglected pepper gardens in recent years due to the low price, affecting productivity, output, and the intense heat that lasted earlier this year … also have a certain impact on pepper prices in recent days. by.
