|Pepper prices this year have increased well, however, experts fear that the mass of people replanting pepper will lead to long-term consequences. (Source: Phnom Penh Post)|
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 38,975 rupees / quintal (highest) and 38,766.65 rupees / quintal (lowest), continuing to decrease by 25 Rupee / quintal compared to the previous session.
The cross rate of Vietnam Dong against the Indian Rupee applied to calculate the export tax and import tax effective from 6/5-12 / 5/2021 is: 313.36 VND / INR.
For the global white pepper market, the personal care segment showed good growth in the period 2017-2022. Accordingly, this segment is forecasted to record a compound annual growth rate (CAGR) of 3%.
In addition, the food and beverage segments also occupy a certain position in this market. The application of white pepper in the food sector is increasingly popular, expected to continue to grow at a moderate rate in the near future.
In terms of product categories, organic white pepper is expected to dominate the market with a CAGR of 4% over the forecast period. The global market currently expects to gain a large revenue stream from this pepper type, according to The Sentinel Newspaper.
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.
The traders, agents, and export units are increasing the collection of information from the people about the output of new crop. They want to have an estimate to come up with a specific plan while waiting for official statistics from the authorities.
Besides, the export goods for the orders in May 2021 are being processed and the market waits for the export cash flow of the previous months to return. It is forecasted that the market will fluctuate around mid-May 2021.
As noted, the price of pepper this year has increased well, helping farmers get results after many years of hard work for pepper. However, experts fear that people who do not re-plant pepper as planned will lead to long-term consequences.
It is forecasted that by 2050, the world pepper production will increase to 1 million tons and the world demand for pepper will also increase, but not balanced with the supply. As a result, pepper prices may remain volatile for many more years.
According to the General Department of Customs, in the first half of April 2021, pepper exports reached 15,304 tons, turnover of $ 47.90 million, bringing the total number of pepper exports in the first 3.5 months of 2021 to 76,296 tons. turnover reached 227.94 million USD, decreased 21.98% in volume but increased 7.32% in value over the same period last year.
Average export price in the period reached 3,130 USD / ton, up 6.07% compared to the average export price in March 2021. Total pepper export volume in April of Vietnam was at least 34,000 tons and the first 4 months in 2021, exports about 95,000 tons, down more than 21 tons compared with the same period last year.
According to BQT