Pepper prices slightly drop, farmers keep stocking up in wait for increase

World pepper prices today

Pepper prices in the world market today (April 1) on sale at the Kochi, India have increased by 336.35 rupees/quintal at 38,636.35 rupees/quintal.

The cross rate of Vietnam Dong against the Indian Rupee (INR) from March 25 to April 1, 2021, applied by the State Bank to calculate the export and import tax is 320.08 VND/INR.

With the current input of about 72,000 - 75,000 VND/kg, the Vietnamese pepper prices sold in the US market might have increased respectively 3,800 US$/ton. However, the world market now only accepts the price of 3,100 US$/ton.

Therefore, a limited amount of pepper is traded in the Vietnamese market while a large quantity has been transferred to Brazil where the demands are high and pepper prices are kept low adequately.

Pepper prices today continue to rise in the world market.

Domestic pepper prices today

Today's pepper price in the domestic market continues to decrease slightly in a key area. Specifically, in Dak Lak and Dak Nong provinces, the prices are falling by 500 VND/kg at 73,500 VND/kg.

Gia Lai pepper price today stands at 73,000 VND/kg, down slightly by 500 VND/kg while remains the same at 71,500 VND/kg in Dong Nai.

In Ba Ria - Vung Tau, the price today go sideways, standing at 75,000 VND/kg while in Binh Phuoc, it is also unchanged standing at 74,000 VND/kg

At such current prices, pepper farmers can make a profit. They have paid attention to their gardening focusing on crop harvest.

With the expectation that the process will rise again, many farmer households continue to stock up pepper to wait for a better opportunity.

In conclusion, pepper prices today (April) in the domestic market are at between 71,500-75,000 VND/kg.