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Today’s Black Pepper Prices, August 20, 2021: Prices Rise to 76,500 – 79,500 VND per kg

Today, black pepper prices fluctuate between 76,500 - 79,500 VND per kg. The domestic market remains stagnant in key regions. Join us as we delve into the latest updates on black pepper prices!

Administrator

20 July, 2024

For further reference, see the most detailed article.

As of the latest trading session at 00:15 on August 20th, black pepper spot prices at the Kochi exchange in India ranged from 41,300 to 41,333.35 Rupees per quintal, maintaining a sideways trend compared to the previous session. For more details on black pepper prices, refer to the article below.

1Domestic Black Pepper Prices

Black pepper prices in the domestic market today ranged from 76,500 to 79,500 VND per kg in key growing areas.

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

Dong Nai and Gia Lai recorded the lowest price at 76,500 VND per kg.
In Dak Lak and Dak Nong, prices reached 77,500 VND per kg.
Black pepper in Binh Phuoc was quoted at 78,500 VND per kg.
The highest price was observed in Ba Ria – Vung Tau at 79,500 VND per kg.

Currently, black pepper prices are on the rise, but we do not have sufficient stock in the raw material areas for procurement. About 80% of this year’s black pepper output has already been sold by farmers since the beginning of the crop year, and purchases now are mostly small-scale. Even if black pepper prices climb to 80,000 VND per kg, not many farmers will benefit as there is little to no stock left to sell.

Black pepper prices in the domestic market today ranged from 76,500 to 79,500 VND per kg

2Global Black Pepper Price Update

In the global market today, as of 00:15 on August 20th, black pepper spot prices at the Kochi exchange in India ranged from 41,300 to 41,333.35 Rupees per quintal, continuing the sideways trend from the previous session.

The State Bank of Vietnam’s applicable exchange rate for calculating import and export taxes from August 19th to 25th, 2021, is 311.47 VND/INR.

Global black pepper prices maintain a sideways trend compared to the previous session

The above is the black pepper price update for August 20th that we would like to share with you.

Frequently asked questions

The price of black pepper on that day rose to 76,500 – 79,500 VND per kg.

The price increase was attributed to a combination of factors, including a decrease in the supply of black pepper in the market and an increase in export demand, particularly from India and the US.

The price of black pepper experienced a volatile week, with a continuous increase from August 16 to 20. The price started at 74,000 VND per kg on August 16 and gradually increased to the peak of 79,500 VND per kg on August 20.

It was predicted that the price would continue to increase slightly in the following days, and it was advised that farmers should sell their black pepper at this time to take advantage of the favorable price.