Pepper prices today 8/5: The world suddenly increased slightly, the lowest was VND 62,000 / kg; the domestic market is ‘pumped’ with a large amount of money, the price will increase

The domestic market will be “pumped” a large amount of money in the middle of May, businesses will buy at low prices, pushing up pepper prices again. (Source: AdobeStock)

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 38,866.65 rupees / quintal (lowest), slightly higher than yesterday session.

The cross rate of VND against the Indian Rupee, which the State Bank applies for calculating import tax and export tax, effective from May 6 to 12, 2021 is 313.36 VND / INR. .

Domestic pepper prices

Today’s pepper prices in the domestic market were traded at VND 62,000 – 69,000 / kg in localities.

Specifically, today’s pepper price in Gia Lai was the lowest in the market at VND62,000 / kg.

Today’s pepper prices in Dong Nai provinces (64,000 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 Ministry of Agriculture and Rural Development, in April, the domestic pepper market fell sharply.

Specifically, pepper prices in Ba Ria Vung Tau decreased by 6,000 VND / kg to an average of 69,000 VND / kg. Pepper prices in Dak Lak and Dak Nong also decreased by 6,500 VND / kg to 67,000 VND / kg.

The price of pepper in Dong Nai decreased by 6,000 VND / kg to 65,000 VND / kg. Pepper prices in Gia Lai decreased by 6,500 VND / kg to 65,000 VND / kg.

Previously, in the first quarter of 2021, domestic pepper price fluctuated with an increase from 16,000 to 18,500 VND / kg. Pepper prices increased due to reduced supply while demand improved.

At present, pepper growing areas have ended the harvest, pepper output is more plentiful, plus the slowdown in exports due to the Covid-19 epidemic has caused pepper prices to drop.

Experts advise farmers to continue to be cautious, avoid mass selling at the end of the crop, because the cash flow stuck in March exports will return in the next few weeks.

The domestic market will be “pumped” with a large amount of money. Export enterprises will now increase the purchase of kernel at low prices, which will push up the price of pepper again. Expected this time will fall in mid-May.

However, the Import and Export Department (Ministry of Industry and Trade) expressed concern about the complicated situation of Covid-19 epidemic in some countries, which affected the consumption of goods.

“Global pepper prices have leveled off after rising sharply in the past. It is forecasted that in the coming time, pepper prices are likely to decrease due to concerns about the Covid-19 epidemic, many countries widening the social gap, and the demand for consumption will decrease, ”said the Import-Export Department.

According to BQT

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