Pepper prices, July 22: Continue moving sideways in the world market

In the world market

In the world market, pepper prices today, July 22, at Kochi exchange, India, increase INR 33.35 per quintal, at INR 42,000 per quintal.

The cross rate of Vietnam Dong to Indian Rupee (INR) from July 15 to July 22, 2021, applied by the State Bank for export and import tax calculation, is VND 311.13 /INR.

India has reopened its market since June 2021, leading to an increase in pepper consumption demand.

The pepper quantity in the Indian market is already in excess due to the prolonged social distancing order. However, pepper prices are threatened due to a 25% increase in Sri Lanka's pepper production volume in 2021, causing the increase in Sri Lanka's pepper volume entering India.

Pepper supply volume decrease due to unfavorable weather and reduced global pepper growing area. This is also the reason why pepper prices have been up.

In summary, pepper prices today, July 22, continuously move sideways for many days.

In the domestic market

Pepper prices today, July 22, remain stable in the Central Highlands and slightly decrease by VND 500 per kilogram in the Southeast provinces compared to yesterday morning.

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

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

Today, Dong Nai province's pepper price remains at VND 72,500 per kilogram, down by VND 500 per kilogram.

The pepper price in Ba Ria-Vung Tau province is purchased at VND 75,000 per kilogram, down by VND 500 per kilogram.

In Binh Phuoc province, the pepper price today is traded at VND 74,000 per kilogram, down by VND 500 per kilogram.

As statistics, by the end of 2020, the national pepper growing area reached 130,000 hectares, down by 22,000 hectares compared to 2018. In which the pepper growing area for harvest was 110,000 hectares.

After a reduction to adjust the global supply, pepper prices have been restored, bringing delights to pepper growers.

As forecasted, this year, the rainy season will be prolonged, so the local agricultural sector recommends that farmers strengthen the prevention of root rot disease in pepper plants.

In summary, pepper prices today, July 22, are trading at VND 72,500-75,000 per kilogram in the domestic market.