Pepper prices today, June 2, fluctuated in opposite directions at the beginning of the week, showing that the market for pepper was active. Surveying the South and the Central Highlands, pepper prices increased today.
Pepper prices today, June 2, fluctuated in opposite directions at the beginning of the week, showing that the market for pepper was active. Surveying the South and the Central Highlands, pepper prices increased today
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Pepper prices today 2/6
Update pepper prices today 2/6, after a series of fluctuations in pepper prices recorded in the Central Highlands, the southern region today has fluctuations compared to the previous week. This continent pepper growers expect June prices to rise.
Earlier this morning (June 2), the highest pepper price was recorded at 55,500 VND / kg recorded in Ba Ria – Vung Tau, the lowest was 53,000 VND in Gia Lai.
Specifically, prices of pepper in Dak Nong (Gia Nghia) and Dak Lak (Ea H’leo) are at VND 54,000 / kg.
Pepper prices in Ba Ria – Vung Tau provinces are priced at VND 55,500 / kg.
Particularly, pepper price in Binh Phuoc moved sideways at VND 55,000 / kg.
Pepper prices in Dong Nai were also stable at VND 54,000 / kg.
Meanwhile, pepper price in Gia La is up to VND 53,000 / kg. This is still the lowest price in the Central Highlands provinces and the South.
World pepper prices
Spot prices of world pepper at Kochi (India) increased by VND 150 / kg, or 0.46%, to Rs 33,050 a quintal. Pepper prices for May delivery were unchanged at Rs 20,530 a quintal. September pepper price (SMX – Singapore) in September remained stable at 6,500 USD / ton.
Demand for the Muslim fasting month of Ramadan contributed to a spike in pepper prices in April, while the spread of the Covid-19 epidemic weakened the purchasing power of traditional markets.
According to IPC statistics, world pepper prices in April 2020 generally increased in some producing countries due to demand for the Muslim fasting month of Ramadan. In which, Indonesia ranked first with ASTA black increased by 9.68% and FAQ white pepper increased by 6.75%; Vietnam was next with black pepper 550 Gr / l up 7.46%, black pepper 500 Gr / l increased 7.58% and white pepper FAQ increased 5.15%. In contrast, Indian black pepper prices fell 1.52% as pepper growing states began selling crops to harvest new crops this year.
By the end of April, Vietnam's pepper harvest in 2020 has reached over 50% with an estimated production of 250,000 tons, inventory in 2019 will turn to about 90,000 tons, so the supply in 2020 is estimated at 350,000 tons. .
The president of the Vietnam Pepper Association also strongly acknowledged that this increase was only temporary and not a sign of a long-term price recovery because the world supply is still greater than demand.
In fact, world pepper prices are still in a downtrend. According to the Export and Import Department on May 18, at Kochi port (India), the price of black pepper for export decreased by 1.4% compared to April 29, to US $ 4,326 / ton.
At the port of Haikou, China, on May 17, the export price of white pepper reached US $ 4,415 / ton, down 1.3% compared to April 30.
According to TTVN
