Pepper prices, July 21: Will be an increase as forecasted?

In the world market

In the world market, pepper prices today, July 21, in Kochi exchange, India increased by INR 33.35 per quintal, at  INR 42,000 per quintal.

The cross rate of Vietnamese Dong to Indian Rupees (INR) from July 15 to 21, 2021, applied by the State Bank for export and import tax calculation, is VND311.13/INR.

Therefore, pepper prices today, July 21, 2021, in the world market continue to move sideways, keeping at INR 42,000 per quintal.

In the domestic market

Pepper prices today, July 21, in the domestic market are flat compared to yesterday morning, trading at VND 72,500-75,500 per kilogram.

Specifically, in Dak Lak and Dak Nong provinces, traders buy pepper at the price of VND 73,500 per kilogram.

Gia Lai province's pepper price is at VND 72,500 per kilogram.

The pepper price remains at VND 73,000 per kilogram in Dong Nai province.

Today, pepper is purchased at VND 75,500 per kilogram in Ba Ria-Vung Tau province.

In Binh Phuoc, the pepper price is traded at VND 74,500 per kilogram.

According to the statistics, exports in the first half of July 2021 reached 14,320 tonnes of pepper of all kinds, with a turnover of US$ 52.47 million, bringing export volume in the first 6 months of the year to 168,204 tonnes, down 3.62 % in volume but increased by 46.35% in value over the same period last year. The average export price of pepper has reached US$ 3,664 per tonnes, an increase of 2.29% compared to the price of June 2021.

Due to the spread of the Covid-19 epidemic, a series of localities were forced to the blockade, causing trade to halt. Pepper exports were also severely affected. Since then, businesses have had to export pepper from warehouses for delivery.

It is forecasted that the strong increase in demand in August 2021 will push domestic pepper prices up, and exporters will have to buy pepper for the stock shortage. However, the actual price development depends on the Covid-19 epidemic suppression in the localities.

In general, prices of agricultural products today continue to remain unchanged in the pepper market and increase by an average of VND 400 per kilogram in the coffee market.