For further reference: The most detailed update on the pepper market in August 2021!
In August 2021, the domestic pepper market witnessed two distinct periods of fluctuation. During the first half of the month, pepper prices in the domestic market surged compared to the end of July 2021. Despite the complex developments of the Covid-19 pandemic, trading activities in the domestic pepper market remained vibrant.
1 Domestic Pepper Prices
Pepper prices today in the domestic market ranged from 74,500 – 78,000 VND/kg in the key growing areas.
Specifically, the latest pepper prices in the following provinces were:
- Dong Nai: 74,500 VND/kg
- Gia Lai, the lowest in the market: 75,000 VND/kg
- Dak Lak and Dak Nong: 76,000 VND/kg
- Binh Phuoc: 77,000 VND/kg
- Ba Ria – Vung Tau, the highest: 78,000 VND/kg
In the domestic market, prices declined by an average of 1,500 – 2,000 VND/kg last week. Export stagnation, disrupted production due to stringent COVID-19 measures, goods accumulation in warehouses and ports, and reduced purchasing by enterprises caused this downward trend.
Today’s pepper prices in the domestic market range from 74,000 – 78,000 VND/kg
2 Global Pepper Price Update
According to KT&ĐT, in India, the Kochi floor halted futures trading due to a lack of participants, resulting in insufficient income to cover expenses. The surge in ocean freight rates has made spice trading and exporting precarious. Companies that had placed orders before these unprecedented price hikes are now facing the prospect of significant losses.
Information from spice exporters across India indicates that they will hold a meeting with the Ministry of Maritime Transport at the end of this month to address this issue and minimize further impacts on the export process.
According to KT&ĐT, the Kochi floor in India has halted futures trading due to a lack of participants.
The above is the pepper price update for August 30 that we would like to share with you.
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