Pepper prices, August 3: Stable in the domestic but turn to decrease in the world market

In the world market

In the world market, pepper prices today, August 3, at Kochi exchange (India), decrease by INR 175, at INR 41,475 per quintal.

The cross rate of Vietnam Dong to Indian Rupee (INR) from July 29 to August 4, 2021, applied by the State Bank for export and import tax calculation, is VND 311.89/INR.

Previously, pepper prices erratically increased or decreased in a narrow range last week.

In summary, in the world market, pepper prices today, August 3, decrease slightly compared to yesterday morning.

In the domestic market

Pepper prices today, August 3, remain stable compared to yesterday morning.

Specifically, the pepper price in Dak Lak and Dak Nong provinces is at VND 73,000 per kilogram.

Gia Lai province's pepper price today is at VND 72,000 per kilogram.

Today, Dong Nai province's pepper price remains at VND 72,500 per kilogram, unchanged compared to yesterday.

The pepper in Ba Ria-Vung Tau province is purchased at the highest of VND 75,000 per kilogram.

In Binh Phuoc province, the pepper price today is traded at VND 74,000 per kilogram.

Vietnam's export prices of black and white pepper on August 2 increased slightly after a long period of stability.

The output of pepper in the last crop was estimated to decrease by 20-30%, partly due to unfavorable weather. In addition, people did not take care of fertilizer carefully, causing less fruit setting rate and a high rate of wilting plants.

The increase by 1.5 times of pepper prices has attracted people's attention with the crop that was once considered "black gold" of the Central Highlands. However, pepper farmers are also facing many challenges due to material high prices.

In summary, pepper prices today, August 3, are trading at VND 72,000-75,000 per kilogram in the domestic market, stable compared to yesterday.