Today’s Black Pepper Prices 08/06/2021: Continuing to Rise, Fluctuating Between 72,500 – 76,000 VND/kg
Today, the global pepper market witnessed a decline in prices, while domestic prices saw a slight uptick. We predict that pepper prices will continue to rise, and we invite you to join us as we explore today's pepper prices and the factors influencing this spice's market trends.
At the end of the latest translation session as of 0:15 on August 6, the spot pepper price at the Kochi, India floor was at 41,375 Rupees/tael (highest) and 41,366.65 Rupees/tael (lowest), continuing to decrease from yesterday. For more details on the latest pepper price, please refer to the following article.
1Domestic Pepper Price Today
Today’s pepper price in the domestic market is trading at 72,500 – 76,000 VND/kg, an increase of 500 VND/kg in some key growing areas.
Specifically, the latest pepper prices in the following provinces are as follows:
Gia Lai remains at the lowest price of 72,500 VND/kg
Dong Nai: 73,000 VND/kg
Dak Lak and Dak Nong: 74,000 VND/kg, an increase of 500 VND/kg
Binh Phuoc: 75,000 VND/kg, an increase of 500 VND/kg
Ba Ria – Vung Tau has the highest price of 76,000 VND/kg, an increase of 500 VND/kg
According to experts, domestic demand will increase in August 2021 as exporters buy more to make up for the shortage of pepper reserves in warehouses. With the current scarcity, pepper prices could soon reach the 80,000 VND/ton mark within this August.
Today’s pepper price fluctuates from 72,500 – 76,000 VND/kg
2Update on World Pepper Prices
In the world market today, as of 0:15 on August 6, the spot pepper price at the Kochi, India floor was at 41,375 Rupees/tael (highest) and 41,366.65 Rupees/tael (lowest), a slight decrease from the previous session. The State Bank of Vietnam’s cross rate for the Indian Rupee is 311.89 VND/IRN.
The world pepper market continues to decline slightly from the previous session
The above is the pepper price on August 6 that we would like to update you on.
Frequently asked questions
The price of black pepper on that date was fluctuating between 72,500 and 76,000 VND/kg.
The price of black pepper is influenced by a variety of factors such as supply and demand, weather conditions, and the quality of the peppercorns. Unfavorable weather conditions such as drought or excessive rain can affect the yield and quality of the pepper, impacting the market price.
The quality of black pepper plays a significant role in determining its price. Factors such as the size of the peppercorns, the presence of impurities, and the intensity of the aroma all contribute to the overall quality. Higher-grade black pepper with larger, cleaner peppercorns and a strong aroma tends to command a higher price in the market.
Consumers should pay attention to the origin and grade of the black pepper. Reputable sources and well-known growing regions are often indicators of higher-quality pepper. Checking for impurities and the overall cleanliness of the peppercorns is also important. Additionally, consumers can grind a small sample to assess the aroma and flavor to ensure it meets their expectations.
The price of black pepper can have a significant impact on various industries. For example, the food and beverage industry relies on black pepper as a key ingredient, and fluctuations in price can affect the cost of production and ultimately the price of their products. The spice industry, including processors and traders, also feels the direct impact of price changes, which can influence their profit margins and business strategies.
Today’s pepper price fluctuates from 72,500 – 76,000 VND/kg
The world pepper market continues to decline slightly from the previous session
