Pepper prices today 19/5/2020: Pepper prices stood still at the beginning of the week

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Pepper prices today 19/5, at the beginning of the week pepper prices have not changed much at the beginning of the week, according to experts, the price of pepper increased sharply due to increasing Chinese market demand.

Pepper prices today 19/5, at the beginning of the week pepper prices have not changed much at the beginning of the week, according to experts, the price of pepper increased sharply due to the increase in Chinese market demand.

Pepper price today 19/5

Update pepper prices today 19/5 between the momentum of sideways in most of the key growing regions of the Central Highlands and the South. World pepper prices unchanged.

Early this morning (May 19), pepper prices in the Central Highlands and the South went sideways after the previous strong increase. World pepper prices continue to fall.

Pepper prices today were the highest at VND 43,000 / kg, recorded in Ba Ria – Vung Tau, the lowest was VND 40,000 in Gia Lai.

Specifically, pepper prices in Dak Nong (Gia Nghia) and Dak Lak (Ea H’leo) traded at VND 41,000 / kg.

Pepper prices in Ba Ria – Vung Tau provinces soared to VND 42,500 / kg.

Pepper price in Binh Phuoc was purchased at 42,000 VND / kg.

Particularly, pepper prices in Dong Nai after days of increase are selling at VND 41,000 / kg.

Pepper price in Gia Lai is priced at VND 40,000 / kg. This is still the lowest price in the Central Highlands provinces and the South.

This is still the lowest price in the Central Highlands provinces and the South. In the context of complicated COVID-19 epidemic, slowing exports, Vietnamese pepper needs to upgrade processing to improve product value and at the same time improve competitiveness in the world market during the period. next time.

World pepper prices

Closing the week, the spot price of world pepper at Kochi (India) decreased further 100Rupi / quintal, equivalent to 0.30%, to Rs 32,800 / quintal. Pepper prices for May delivery were unchanged at Rs 20,530 a quintal. September pepper price (SMX – Singapore) in September remained stable at 6,500 USD / ton.

In the first four months of this year, according to the Ministry of Agriculture and Rural Development, Vietnam's pepper exports reached 117 thousand tons and 249 million USD, up 8.3% in volume but down 12% in value over the same period in 2019.

The 5 largest export markets of Vietnam pepper in the first 3 months were US, India, Myanmar, Pakistan and Germany respectively with 39.2% market share.

On the world market, pepper prices in April fluctuated unevenly between markets.

According to the Vietnam Pepper Association (VPA), the Central Highlands and the South are in the harvest season, but the price of pepper has been on an upward trend recently. However, the current price is still very low compared to previous years.

Mr. Nguyen Nam Hai, President of VPA, General Director of Joint Stock Company of Coffee and import-export inspection, said that in the past two weeks, the price of pepper increased sharply from 2,000 to 3,000 VND / kg due to the demand. from Asian countries.

“The Central Highlands provinces are harvesting the pepper selling price of 42,000 VND / kg which is stable and profitable for pepper growers. Among types of agricultural products, only pepper has increased, which has created favorable conditions for farmers during the peak harvest season. We estimate higher prices are also difficult in the current supply and demand situation, ”Mr. Hai said.

Overall, the world supply of pepper is still surplus compared to demand, but from time to time the price may increase. For example, Brazil has sold out its domestic pepper and Asian demand may increase, but only increases to a degree because there is still a lot of supply in the world.

According to TTVN

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