|In the past 2 weeks, pepper prices have almost flat. Farmers have finished the harvest but are still ‘hoarding’ goods, not in a hurry to sell .. (Source: Pinterest)|
Update world pepper prices
On the world market, at the end of the most recent session, the spot price of pepper at Kochi – India was at Rs 39,000 / quintal (highest) and 38,975 rupees / quintal (lowest), continuing to decline compared to the session. before.
The cross rate of Vietnam dong against the Indian Rupee (INR) on 5/5 applied by the State Bank for calculating export and import tax is 312.54 VND / INR.
Domestic pepper prices
Today’s pepper prices in the domestic market were traded at VND 64,000 – 69,000 / kg locally.
Specifically, today’s pepper price in Gia Lai was the lowest in the market at VND 64,000 / kg.
Today’s pepper prices in Dong Nai provinces (65,500 VND / kg); Dak Nong, Dak Lak (67,000 VND / kg); Binh Phuoc (68,000 VND / kg) and Ba Ria – Vung Tau were at the highest threshold of 69,000 VND / kg.
According to the latest article above Peppertrade, Vietnam’s pepper market opened for the 18th week of 2021 (from May 3) with a sideways price trend in the context of a rather serious evolution of the Covid-19 epidemic in the country and in many countries around the world. gender. Disease is also the cause of anxiety for the whole market.
However, according to the article, in that context, still recorded good demand from markets such as the European Union (EU), Asia, the US and even the Middle East.
China’s demand for pepper in April generally decreased compared to the previous month due to the tightening border to control the spread of Covid-19 disease. The border between Cambodia and Vietnam has not yet been reopened, so it is forecasted that pepper from Cambodia will not be transferred to markets such as Vietnam, Thailand and China as usual.
Currently, the speed of delivering pepper materials from producers and traders is very fast. Domestic agents and exporters, manufacturers and processors continue to face difficulties in capital. This is also identified as the main reason causing Vietnam’s pepper market to slow down in the past 2 weeks.
Besides, the holy month of Ramadan will end in the coming days, so there is a possibility that pepper demand will increase more strongly in the next few weeks.
In addition, freight by sea remains high and the shortage of empty containers (especially the US and Canada) could affect pepper prices in the market.
According to Peppertrade, in the context of continued economic development, the Vietnamese currency is forecasted to be more stable against the USD, at least until the end of the second quarter of 2021.
|Price chart of Vietnam pepper in April (Source: Peppertrade)|
Peppertrade According to statistics, on average in April, Vietnamese pepper prices decreased from VND 73,500 / kg to VND 68,500 / kg, equivalent to a decrease of 7%. However, in the last 2 weeks of April, pepper prices were almost flat. Farmers have finished the harvest but are still “hoarding” the goods and have not yet sold them.
According to BQT