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Today’s Pepper Prices: Stable Compared to Yesterday, Peaking at 80,500 VND per kg

Today's pepper prices are ranging from 76,000 to 80,500 VND per kg. This morning, prices remained stable compared to the same period yesterday in key growing areas. Let's take a closer look at the latest updates with us!

Administrator

22 July, 2024

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According to KT&ĐT, the recent surge in social distancing measures due to the pandemic has disrupted domestic supply chains, while soaring ocean freight rates have slowed international trade.

1Domestic Pepper Prices

Pepper prices in the domestic market today range from 76,000 – 80,500 VND/kg, remaining unchanged from yesterday’s levels in key growing areas.

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

Dong Nai at the lowest price of 76,000 VND/kg
Gia Lai at 77,000 VND/kg
Dak Lak and Dak Nong at 78,500 VND/kg
Binh Phuoc at 79,000 VND/kg
Ba Ria – Vung Tau at the highest price of 80,500 VND/kg

Experts attribute the decline in global exports not only to the COVID-19 pandemic but also to a significant drop in pepper production this year. Pepper prices in both the domestic and export markets remained stable over the weekend.

Today’s pepper prices remain unchanged from yesterday, ranging from 76,000 – 80,500 VND/kg

2Export Pepper Information

According to data from the General Department of Vietnam Customs, pepper exports in the first eight months of 2021 reached a total of 197,766 tons, a decrease of 4,063 tons or 2.01% compared to the export volume in the same period last year.

In the first six months of 2021, India’s pepper exports increased by 43% in volume to 11,260 tons, valued at $45.8 million, up 57% from the previous year. Crushed pepper accounted for 54% of these sales.

In Brazil, international pepper sales from January to July decreased by 9% in volume to 51,620 tons and by 32% in value to $145.5 million. The state of Pará in Brazil is expected to produce between 35,000 and 37,000 tons of pepper in the harvest season starting in September 2021.

Indonesia’s pepper exports in the first six months reached 20,800 tons, a decrease of 1.9% from last year. Vietnam, Brazil, and Indonesia are currently the world’s top three pepper exporters.

These are the pepper prices for today, September 21st. We hope you found this information helpful.

Frequently asked questions

The price of pepper was stable compared to the previous day, peaking at 80,500 VND per kg.

The price of pepper is influenced by a variety of factors, including weather conditions, crop yield, global demand, and market speculation.

Favorable weather conditions, such as adequate sunlight and rainfall, can lead to increased crop yield and lower prices. Conversely, extreme weather events like droughts or floods can damage crops and reduce supply, causing prices to rise.

Crop yield refers to the amount of pepper that can be harvested from a given area of land. A high crop yield usually results in a larger supply, which can drive down prices. Conversely, a low crop yield can lead to scarcity and higher prices.

Global demand for pepper can influence prices significantly. When demand is high, prices tend to increase as buyers are willing to pay more to secure the product. Conversely, during periods of low demand, prices may decrease due to excess supply.

Market speculation refers to the actions of traders and investors who buy and sell commodities, such as pepper, based on anticipated future price movements. Their activities can influence prices in the short term, but the actual supply and demand fundamentals ultimately determine the long-term price trends.