Pepper prices This week comes up in many localities. After increasing by 500 VND / kg compared to the beginning of the week, the provinces of Dak Lak, Gia Lai, Dak Nong and Dong Nai recorded a price range of 51,500 – 52,000 VND / kg. Particularly, Binh Phuoc and Ba Ria – Vung Tau anchored at 52,500 VND / kg and 53,500 VND / kg respectively.
The world pepper market last week recorded a quite positive outlook. On the domestic market, Malabar black was reported to be stable at $ 4,469 / ton.
Malaysia’s black and white pepper prices did not record any new adjustments, reaching $ 2,495 / ton and $ 3,967 / ton, respectively.
Meanwhile, in Indonesia, black and white pepper were traded at 2,465 USD / million tons and 4,465 USD / ton respectively, up 1% from the previous week.
Similarly, Sri Lankan black pepper reportedly increased 1% this week, now recording an average of $ 2,620 / ton, International Pepper Community report.
Update coffee prices
Coffee price in the past week, simultaneously went down. Specifically, Lam Dong and Ho Chi Minh City both decreased by 100 VND / kg, reaching 31,200 VND / kg and 33,200 VND / kg, respectively. The three provinces of Dak Nong, Gia Lai and Dak Lak reduced by 200 VND / kg to about 31,500 – 31,700 VND / kg. After losing VND 300 / kg, Kon Tum recorded a threshold of VND 31,400 / kg.
Globally, the coffee market is generally growing at 2.5 – 3% over the same period last year. Meanwhile, the growth rate in India is much faster than in other countries, according to the report The Hans India.
Currently, the Indian coffee market is growing at a rate of 10-15% annually, due to limited production facilities and smaller consumption markets compared to the rest of the world.
Mr. C Srishant, CEO of CCL Products (India) Ltd. We expect that the Indian coffee market will witness an outstanding growth due to increased demand in the coming time.
During the COVID-19 period, home coffee consumption increased significantly when coffee shops and hotels were closed. In this way, the global coffee industry has weathered the pandemic crisis and stabilized the general demand of consumers.
According to VietnamBiz