Pepper prices today 29/4: Pepper prices increased sharply according to world prices?

Pepper price today is 29/4

Updated pepper prices today from the online trading floor from the trading floor showed that domestic pepper prices were flat across most localities. In the opposite direction, after a long series of standstill days, an increase of 2.94%, to Rs 33,750 / quintal. The increase in world pepper prices is expected to affect domestic pepper prices, and domestic pepper prices are expected to rise sharply

As of 6am this morning 29/4, pepper prices today in the Central Highlands and the southern highest price at 39,500 VND / kg was recorded in Ba Ria – Vung Tau, the lowest 37,000 VND / kg in Gia Lai, Dong Deer.

+ Specifically, pepper prices in Dak Nong (Gia Nghia) and Dak Lak (Ea H’leo) are at VND 38,000 / kg.

+ Pepper price in Ba Ria – Vung Tau province is the place with the highest pepper price in the region when it is VND 39,500 / kg.

+ Pepper price in Binh Phuoc is VND 38,500 / kg.

+ Pepper price in Gia Lai is bought / sold at VND 37,500 / kg.

+ Particularly, pepper prices in Dong Nai have remained flat at VND 37,000 / kg.

Domestic pepper production is quite large, but Vietnam mainly exports raw materials, according to the Ministry of Industry and Trade. Currently, products made from pepper mainly include: black pepper and ground white pepper powder, a small amount of red pepper, green pepper in brine …

In general, the structure of processed pepper products is not appropriate, white pepper has a high export value, but only accounts for 10-15% of the total output, resulting in low value for the domestic pepper industry, not commensurate with the potential.

In the context of complicated COVID-19 epidemic, slowing export, the domestic pepper industry needs to upgrade the processing stage to improve product value, and improve the competitiveness in the world market in next time

World pepper prices

Spot prices of world pepper at Kochi (India) increased sharply to Rs 965 a quintal, after a long period of standstill, up 2.94% to Rs 33,750 a quintal. Pepper prices for March delivery remained unchanged, at Rs 32,530 a quintal. September pepper price (SMX – Singapore) in September remained stable at 6,500 USD / ton.

The trend of increasing world pepper price will have a big impact on domestic pepper price. It is forecasted that today's pepper price will increase due to the impact of world price.

At this time, the disease situation is still complicated, especially in the US and Europe – the major pepper markets in the world, will make the import demand sharply decrease. Domestic pepper production is quite large, but Vietnam mainly exports raw materials.

Main products of pepper include: black pepper and white pepper powder, red pepper, green pepper in brine … Due to unreasonable processing structure, white pepper has The export value is high, but only accounts for 10-15% of the total output, resulting in a low value for the domestic pepper industry.

In addition, the pepper market also faces difficulties due to interrupted supply due to social isolation requirements and restrictions on clearance of goods from many countries around the world. In the long term, the global pepper market is forecast to remain under oversupply.

Meanwhile, the supply of area, productivity, production of Vietnam and the world has increased in recent years while the demand has only increased by 2 – 2.5% / year. Vietnam's pepper harvest in 2020 has reached over 50% with an estimated output of 250,000 tons, inventory in 2019 will turn to about 90,000 tons, so the supply in 2020 is estimated at 350,000 tons.

Today's pepper prices are on April 29, updating prices in Central Highlands, the South, pepper prices today are Phu Quoc, Vung Tau and Dong Nai.