| A decrease in Vietnam’s pepper output will put pressure on supply as happened in February and March, causing pepper prices to increase by 45% for more than a month. (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 39,500 rupees / quintal (highest) and 39,250 rupees / quintal (lowest), down 250 rupees / quintal. with the previous session.
The cross rate of Vietnam dong against the Indian Rupee (INR) on April 28 was applied by the State Bank to calculate the import and export tax of 309.40 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.
As noted, cash flow from pepper transactions is not much. The reason, unlike coffee, is to sell at the FOB price (ie payment on the ship). Pepper purchase and sale often choose to pay CIF (payment on arrival at the port). Therefore, the cash flow of pepper is often slow.
This is happening to the domestic pepper market at the end of this year’s harvest. Experts said that the lack of containers and congestion in the Suez Canal caused the shipment of goods to be delayed. High prices in the past time also made exporters dare not sell short.
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.
According to calculations in recent posts of Peppertrade, the average export price of pepper in Vietnam in the first half of April 2021 reached US $ 3,130 / ton, up 6.07% compared with the average export price in March 2021. Total pepper export volume in April of Vietnam is at least 34,000 tons and in the first 4 months of 2021, it is about 95,000 tons (in the first 4 months of 2020, it is 116,764 tons).
Peppertrade also said that Vietnam’s pepper production in 2021 is not expected to be as abundant as in previous years, this will put pressure on supply as happened in February and March, causing pepper prices to increase by 45. % for more than 1 month.
According to VietnamBiz
