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Today’s Black Pepper Prices, August 3rd, 2021: Stable, Ranging from 71,000 to 75,000 VND per kg

Today, we witness a slight dip in global pepper prices, while domestic prices remain unchanged in key producing regions. Join us as we delve into today's pepper price update and explore the dynamics of this spice commodity!

Administrator

22 July, 2024

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As of 0:15 on August 3rd, worldwide, the price of black pepper for immediate delivery at the Kochi exchange in India was at 41,650 Rupees/quintal (highest) and 41,475 Rupees/quintal (lowest), a slight decrease from the previous session. For a deeper understanding, please refer to the following article.

1Domestic Pepper Prices Today

Pepper prices in the domestic market today ranged from 71,000 to 75,000 VND/kg in different localities.

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

Gia Lai had the lowest price at 71,000 VND/kg
Dong Nai was at 72,000 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

Currently, countries are also expected to face a poor harvest this year, with the harvested pepper volume mainly serving the domestic market. High freight rates and a shortage of empty containers will hinder the global distribution of pepper.

It is estimated that Vietnam’s pepper reserves stand at 40,000 tons, and they are likely to continue being “depleted” in August 2021, with buyers waiting for the end of social distancing measures to make up for the shortfall. This will lead to another round of price increases in the domestic market.

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

2Update on World Pepper Prices

In the world market, the price of pepper for immediate delivery at the Kochi exchange in India was at 41,650 Rupees/quintal (highest) and 41,475 Rupees/quintal (lowest), a slight decrease from the previous session. The State Bank of Vietnam sets the cross rate for the Indian Rupee against the Vietnamese Dong at 311.89 VND/IRN.

Update on World Pepper Prices

The above is the pepper price on August 3rd that we would like to update you on.

Frequently asked questions

The price ranged from 71,000 to 75,000 VND per kg.

Yes, the price was stable on that day.

Prices can be influenced by a variety of factors, including supply and demand dynamics, weather conditions affecting crop yields, and global market trends. Local market conditions and the quality of the peppercorns can also play a role in price fluctuations.

You can refer to specialized agricultural websites or local market reports for the most up-to-date information on spice prices, including black pepper.