Pepper prices, July 24: Increase slightly in the world market

In the world market

In the world market, pepper prices today, July 24, at Kochi exchange, India, increase INR 694.25 per quintal, at INR 41,825 per quintal.

The cross rate of Vietnam Dong to Indian Rupee (INR) from July 22 to July 28, 2021, applied by the State Bank for export and import tax calculation, is VND 311.39 /INR.

As forecasted, pepper markets will be active in the third quarter of 2021, when the US and European countries will relax social distancing measures. Pepper prices are expected to remain high due to reduced supply from Brazil, Indonesia, and Vietnam.

In summary, pepper prices today, July 24, turn to increase slightly compared to yesterday morning.

In the domestic market

Pepper prices today, July 24, remain stable 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, unchanged compared to yesterday.

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

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

Due to the impact of the 4th wave of Covid-19 and high freight fees, businesses' purchasing limitation, high inventory levels, and a large amount of pepper in the population, purchasing pepper prices have trend to decrease in the domestic market.

The strongest decrease in pepper prices was 3.4% in Chu Se district, Gia Lai province, and the lowest decrease was 1.3% in most provinces.

The domestic black pepper prices are around VND 72,000-75,500 per kilogram; white pepper prices are VND 113,000 per kilogram, an increase of VND 2,000 per kilogram (up 1.8%) compared to the end of June 2021, and sharply increased compared to VND 66,500 per kilogram in the same period in 2020.

However, the average export pepper prices in June 2021 have been recorded as the highest since February 2018.

In summary, pepper prices today, July 24, are trading at VND 72,500-75,000 per kilogram in the domestic market, unchanged compared to yesterday.