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Today’s Black Pepper Prices, 9/3: Market Steady, Ranging from 73,500 – 77,000 VND/kg

Today's black pepper prices fluctuate between 73,500 and 77,000 VND per kg. The domestic trading scene remains quiet due to stagnant production and exports. Seizing this opportunity, major agencies and export companies are suppressing their purchasing prices.

Administrator

9 August, 2024

For reference: The most detailed update on pepper exports!

While there are no specific figures for pepper exports in August 2021 yet, the picture looks bleak when looking at the mid-August 2021 statistics, with exports being just a third of July 2021’s numbers. The previous months had also seen declines compared to the same period last year.

1Domestic Pepper Prices

Pepper prices in the domestic market today are trading at 73,500 – 77,000 VND/kg in the key growing areas.

Specifically, the latest pepper prices in provinces such as:

Dong Nai: 73,500 VND/kg
Gia Lai, the lowest in the market, at 74,000 VND/kg
Dak Lak and Dak Nong: 75,000 VND/kg
Binh Phuoc: 76,000 VND/kg
Ba Ria – Vung Tau, the highest at 77,000 VND/kg

The outbreak of COVID-19 in exporting countries, reduced supply due to weather conditions and the shortage of empty containers, as well as increased ocean freight rates, are common issues affecting the export of Vietnamese pepper, as well as that of Indonesia and Brazil, since the beginning of 2021.

Pepper prices in the domestic market today are trading at 73,500 – 77,000 VND/kg

2Global Pepper Price Updates

In the global market, pepper prices today, on September 3rd, at the Kochi exchange in India, remain at a standstill due to a lack of customers because of COVID-19. Before the pause in trading, Indian pepper prices at the Kochi exchange were at 41,300 rupees/quintal.

Currently, Vietnam, Brazil, and Indonesia are the world’s top three pepper exporters. Vietnam leads the way with 180.2 thousand tons in the first seven months, far surpassing Brazil’s 51.7 thousand tons. Indonesia’s pepper exports, on the other hand, reached 20.8 thousand tons in the first six months of the year.

Pepper prices at the Kochi exchange in India remain stagnant due to COVID-19.

The above is the pepper price update for September 3rd that we would like to share with you.

Frequently asked questions

The market was steady, ranging from 73,500 to 77,000 VND/kg.

Black pepper prices are influenced by a variety of factors, including supply and demand dynamics, weather conditions affecting crop yield, and global economic trends. Local market fluctuations and the quality of the peppercorns also play a role in price determination.

Stable prices allow traders and exporters to plan their operations more effectively, manage cash flow, and maintain consistent supply chains. It also enables them to negotiate better terms with buyers and maintain profitability.

Traders and exporters can employ various risk management strategies, such as hedging through futures contracts, diversifying their supplier base, and maintaining strong relationships with both suppliers and buyers to access timely market information.