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Today’s Black Pepper Prices 08/04/2021: A Slight Uptick, Trading at 72,000 – 75,000 VND per kg

Today, we delve into the world of pepper prices and the fluctuations they're experiencing. While global prices continue on a downward trajectory, some local regions are witnessing a reversal with prices inching upwards. Join us as we explore the intricacies of today's pepper market and uncover the factors driving these contrasting trends.

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11 July, 2024

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For further reference, please see the most detailed information.

As of the latest trading session at 00:15 on August 4th, black pepper spot prices on the Kochi, India exchange ranged from 41,475 Rupees/tonne (highest) to 40,783.35 Rupees/tonne (lowest), a slight decrease from the previous day. For more information on black pepper prices, please refer to the following article.

1Domestic Black Pepper Prices Today

Black pepper prices in the domestic market today ranged from 72,000 – 75,000 VND/kg in some localities.

Specifically, the latest black pepper prices in various provinces are as follows:

Gia Lai had the lowest price at 72,000 VND/kg
Dong Nai was at 72,500 VND/kg
Dak Nong and Dak Lak were at 73,000 VND/kg
Binh Phuoc was at 74,000 VND/kg
Ba Ria – Vung Tau had the highest price at 75,000 VND/kg

In Vietnam, the output of black pepper in the previous crop was estimated to have decreased by 20-30% compared to the same period last year. This was partly due to unfavorable weather conditions and a lack of proper care, resulting in fewer flowers, lower fruit-bearing rates, and higher plant mortality.

On the other hand, the 1.5-fold increase in black pepper prices has rekindled interest in this crop among farmers. However, they now face challenges due to the high cost of production.

Ba Ria – Vung Tau continues to have the highest black pepper price at 75,000 VND/kg

2Black Pepper Prices in the World Market

In the world market today, as of 00:15 on August 4th, black pepper spot prices on the Kochi, India exchange ranged from 41,475 Rupees/tonne (highest) to 40,783.35 Rupees/tonne (lowest), a slight decrease from the previous session. The State Bank of Vietnam sets the cross-exchange rate for the Indian Rupee at 311.89 VND/IRN.

Update on Black Pepper Prices in the World Market

The above is the black pepper price update for August 4th.

Frequently asked questions

The price of black pepper on that date was trading at a range of 72,000 – 75,000 VND per kg, a slight increase from previous days.

The price of black pepper is influenced by a variety of factors, including supply and demand, weather conditions, and the quality of the pepper. Other factors include the global economy, and local production costs.

Weather plays a crucial role in black pepper production. Adverse weather conditions such as droughts or excessive rainfall can impact the yield and quality of the pepper, thereby affecting the supply and price.

Supply and demand have a direct impact on black pepper prices. When demand is high and supply is limited, prices tend to increase. Conversely, when supply exceeds demand, prices may decrease.

To mitigate price fluctuations, farmers can employ strategies such as forward contracting, where they agree to sell their produce at a predetermined price, thereby locking in a profit. Diversification of crops and efficient supply chain management can also help reduce the impact of price volatility.