| Pepper prices today May 11: The world continues to decline, the lowest is VND 63,000 / kg. (Source: Borneo Talk) |
Update world pepper prices
On the world market, at the end of the last session, spot price of pepper at Kochi – India was at Rs 38,866.65 / quintal, down slightly from yesterday.
The cross rate of Vietnam Dong 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 63,000 – 68,500 / kg in localities.
Specifically, today’s pepper price in Gia Lai was the lowest in the market at VND 63,000 / kg.
Today’s pepper prices in Dong Nai provinces (64,000 VND / kg); Dak Nong, Dak Lak (67,000 VND / kg); Binh Phuoc (67,500 VND / kg) and Ba Ria – Vung Tau were at the highest threshold of 68,500 VND / kg.
Domestically, the pepper market has been quiet and went down since April 2021. This was also the time when coffee prices skyrocketed, causing cash flow to flow to this agricultural product instead of pepper.
Experts forecast that, in the near future, when the official figures of the new pepper output, the return of export cash flow will help the pepper price to be more prosperous. Meanwhile, pepper prices this week will not change much. Southeast region may continue to make a slight downward adjustment.
Despite the increasing demand in the market, the supply of black pepper worldwide has not increased much, mainly due to crop failures caused by climate change, especially in the major pepper producing countries. world like Vietnam, India and Brazil.
Climate change leading to drought or heavy rainfall has seriously affected the black pepper industry, leading to a decrease in productivity.
According to Credible Markets, the largest producers of black pepper in the world are Vietnam, India, Indonesia and Brazil, of which Vietnam’s pepper prices are considered to be the most competitive.
Black pepper is one of the largest export items of Vietnam; The US is one of the largest importers of pepper to the Southeast Asian nation.
Accordingly, by 2020, the US will increase the import of pepper in many main supply markets such as Vietnam, Brazil, and Indonesia, but sharply reduce imports from India, Ecuador, and China.
Specifically, US pepper imports from Vietnam in 2020 reached 57.7 thousand tons, worth $ 157.93 million, up 2.5% in volume, but down 3.2% in value over the year. 2019.
Vietnam’s market share of pepper in total US imports accounted for 66.7%, stable compared to 2019.
According to BQT
