| Many people also worry that pepper prices may fall deeper than current prices, because pepper prices tend to continue to decline, causing many pepper growers to want to sell. (Source: herbsnspices.vn) |
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 39,600 / quintal (highest) and 39,500 rupees / quintal (lowest), down by 100 rupees / quintal. with the previous session.
The cross rate of Vietnam dong against the Indian Rupee (INR) on April 23 was applied by the State Bank to calculate the import and export tax at 307.65 VND / INR.
Domestic pepper prices
Today’s pepper prices in the domestic market were traded at VND 65,000 – 69,000 / kg locally.
Specifically, today’s pepper price in Gia Lai, Dong Nai is the lowest on the market at 65,000 VND / kg.
Today’s pepper prices in the provinces of 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 Vietnam Pepper Association, the sharp drop in pepper prices on the world market has dragged down the domestic pepper price by about 2 million VND / ton, the selling price is at 65,000-69,000 VND / kg.
According to traders, pepper prices decreased due to abundant supplies, increased sales, especially high and cheap pepper supplies from Sri Lanka, and falling prices in the world market.
Contrary to the present, earlier in February and March 2021, pepper prices experienced many strong increases due to high import demand and limited supply. In particular, the average export price of pepper in March 2021 reached US $ 2,951 / ton, up 1.79% compared with the average export price of February 2021.
Evidence of the high demand for imported pepper in recent months, the General Department of Customs data shows that: Pepper exports in March 2020 reached 31,413 tons, up 17,985 tons (up 133.94%). compared with the previous month.
The value of export turnover in March 2021 reached 92.70 million USD, increased 53.77 million USD (increased 138.15%) compared to the previous month and increased 10.24 million USD, (up 12.42%). compared to the same period last year.
Although the cumulative volume of pepper exports in the first 3 months of 2021 totaled 61,621 tons of all kinds, the export volume decreased by 18,864 tons, or 23.44% compared to the export volume in the first 3 months of 2020. But in terms of export value in the first 3 months of 2021, a total of 180.02 million USD is reached, up 3.95 million USD, or 2.24% higher than the same period.
Many previous comments have warned pepper growers to stop hogging, pushing prices up, because pepper prices will turn down in April 2021 because of more sales when pepper growing areas complete the harvest. this year. Many traders expressed regret when they did not sell at the time pepper prices were 75,000-76,000 VND / kg.
Many people also worry that pepper prices may fall deeper than current prices, because pepper prices tend to continue to decline, causing many pepper growers to want to sell. If pepper sell-off occurs, pepper prices will drop deeply, possibly to the lowest level at VND60 million / ton.
Thus, compared with 1 month ago, for each ton of pepper sold, pepper growers lost 2 million VND.
According to BQT
