Pepper prices today (August 22) range from 75,000 to 79,000 VND/kg. In the past 6 days, the pepper market in general has tended to go down, provinces and cities recorded a decrease from 500 VND/kg to 1,000 VND/kg.
Update domestic pepper prices
Pepper price This week, there were mixed movements, in which there were a few days of sideways movement, but in general, the purchasing price of the whole week tended to decrease.
Accordingly, the two provinces of Dong Nai and Gia Lai are currently trading at VND 75,000/kg and VND 75,500/kg, respectively, down 1,000 VND/kg and 500 VND/kg, respectively.
After being adjusted down by 500 VND/kg, the purchasing price in Dak Lak and Dak Nong provinces is currently at the same level of 77,000 VND/kg.
Particularly, the two provinces of Binh Phuoc and Ba Ria – Vung Tau were respectively stable at 78,000 VND/kg and 79,000 VND/kg, respectively, with no change in price compared to the beginning of the week.
Price volatility in the past week. Unit: VND/kg. Summary: Thao Vy
Update information on world pepper
Due to the crop failure, the current Malaysian black pepper price has doubled from the price the market witnessed in December last year.
Mr. William SC Yii, Director of Nguong Aik Sdn Bhd, a leading Sarawak pepper exporter based in Kuching, said: “Both black and white pepper prices have been on an upward trend since the fourth quarter of 2020. The price increase is expected to continue in the near future.”
He said that the domestic pepper production has decreased significantly because many farmers are forced to follow the movement control order of the local government amid the complicated development of the COVID-19 pandemic.
In areas under lockdown and with movement control orders in place, farmers are unable to visit their pepper gardens or spend less time than before tending to crops.
Besides, Malaysia’s pepper production and productivity has also been affected due to the weakness in farm maintenance in the past few years when pepper prices were low. At the same time, farmers also tend to cut down on the use of fertilizers and chemicals.
Before the immediate inadequacies, Mr. William SC Yii predicted that 2021 will be a year of failure for the Malaysian pepper industry. The Star news.
According to VietnamBiz
