| Experts worry that when speculators sell off pepper, it will make it difficult for the domestic market to stabilize, and the price of pepper may drop deeply. (Source: Ptexim) |
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 40,066.65 rupees / quintal (highest) and 39,600 rupees / quintal (lowest), down sharply by Rs 466.65. / quintal compared to the previous session.
The cross rate of Vietnam dong against the Indian Rupee (INR) on April 22 was applied by the State Bank to calculate the export tax and import tax at 307.12 VND / INR.
According to the latest article above PeppertradeThis year’s pepper harvest in Indonesia will start no earlier than the end of June, which is about 2 months from now.
Black pepper harvest will be started in Lampung province. A month later came the famous harvest of Muntok white pepper on the islands of Bangka and Belitung.
Similar to crop year 2020, the forecast for pepper crop this year in Indonesia is not very positive.
Accordingly, due to low pepper prices, people neglect to take care of the garden, yield will decrease, plus unfavorable weather during the fruiting period will cause the island’s pepper output to decrease significantly.
The people in the Indonesian pepper industry forecast that for black pepper, the yield will decrease by 40%, while for white pepper it will be up to 50%.
Domestic pepper prices
Today’s pepper prices in the domestic market were traded at VND 67,000 – 71,000 / kg in localities.
Specifically, today’s pepper price in Gia Lai was the lowest in the market at VND67,000 / kg.
Today’s pepper prices in Dong Nai provinces (68,000 VND / kg); Dak Nong, Dak Lak (69,500 VND / kg); Binh Phuoc (70,0000 VND / kg) and Ba Ria – Vung Tau were at the highest threshold of 71,000 VND / kg.
According to the Vietnam Pepper Association, predicting a sharp increase in pepper prices after the harvest is completed by the end of April is not enough basis. Keeping goods from being sold massively is helping to stabilize pepper prices in the country.
Experts worry that the sale of pepper will make it difficult for the domestic pepper market to stabilize and possibly even drop deeply to the lowest threshold, VND60 million / ton.
According to BQT
