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Today’s Cardamom Price, September 27, 2021: Fluctuating between 77,500 – 81,500 VND/kg

Today's pepper prices are ranging from 77,500 to 81,500 VND per kg. Over the past week, pepper prices have shown a slight upward trend, increasing by 1,000 to 1,500 VND per kg. Let's delve into the details and explore the dynamics of this spice's market together!

Administrator

8 August, 2024

For reference: The most detailed update on pepper prices!

The agricultural produce market, including pepper, has been positively impacted by effective COVID-19 prevention measures and adaptive safety plans. The reopening of Ho Chi Minh City and the surrounding provinces, which are home to processing factories and warehouses, has facilitated the resumption of production and export activities. As a result, the pepper market has become more vibrant, with prices experiencing a slight increase.

1. Domestic Pepper Prices

Pepper prices in the domestic market today range from 77,500 – 81,500 VND/kg, a slight increase compared to the same period yesterday in the key growing areas.

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

Dong Nai has the lowest price at 77,500 VND/kg
Gia Lai at 78,500 VND/kg
Dak Lak and Dak Nong at 79,500 VND/kg
Binh Phuoc at 80,500 VND/kg
Ba Ria – Vung Tau has the highest price at 81,500 VND/kg

This morning, domestic pepper prices rose slightly compared to the same period yesterday. Last week, pepper prices increased by an average of 1,000 – 1,500 VND/kg. The highest price was recorded in Ba Ria – Vung Tau. Export pepper prices also increased by 50 USD/ton last week. Compared to the beginning of the month, the export prices of black and white pepper from Vietnam have increased by up to 165 USD/ton.

Today’s pepper prices remain stable compared to yesterday, ranging from 77,000 – 81,000 VND/kg

2. Export Pepper Information

Pepper exports in the first half of September 2021 reached 6,359 tons, with a turnover value of 25.73 million USD. This figure is even lower than the exports in the first half of August 2021, marking a consecutive decline in exports of this commodity.

The main reasons for this decrease are the impacts of COVID-19 and the high sea freight rates. The average export price during this period reached 4,046 USD/ton, an increase of 7.32% compared to the average export price in August 2021.

Pepper exports in the first half of September 2021 reached 6,359 tons, with a turnover value of 25.73 million USD

The above is the latest update on pepper prices as of September 27th.

Frequently asked questions

The price of cardamom on that day fluctuated between 77,500 and 81,500 VND/kg.

Cardamom prices are influenced by a variety of factors, including weather conditions, crop yield, market demand, and speculation by traders. Unfavorable weather conditions such as drought or excessive rain can affect the quality and quantity of the crop, driving up prices. High demand from domestic and international markets can also lead to an increase in prices.

Traders and exporters play a significant role in determining cardamom prices. Their speculation and market manipulation can cause price fluctuations. When traders buy large quantities of cardamom, it can drive up prices. Similarly, if exporters face challenges in selling their produce internationally, it can impact the domestic market and affect prices.

The COVID-19 pandemic has disrupted the supply chain and trade of cardamom. Travel restrictions and lockdowns implemented to control the spread of the virus have impacted the transportation and export of cardamom. This has resulted in a decrease in demand and subsequently affected cardamom prices.

The cardamom market is expected to remain volatile in the short term due to the ongoing pandemic and unpredictable weather conditions. However, in the long term, cardamom prices are anticipated to stabilize as the market adjusts to the new normal. The demand for cardamom is expected to increase globally, particularly in the food and beverage industry, which may have a positive impact on prices.