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Pepper prices today March 31: Volatility in the Southeast while Indian pepper increases

In Dak Lak and Dak Nong provinces, today pepper prices were purchased at 74,000 VND / kg. (3.20$/kg)

In Gia Lai province, today pepper prices were at 73,000 VND / kg. (3.16$/kg)

Meanwhile in Dong Nai, pepper prices today stood at 71,500 VND / kg (3.09$/kg), down 500 VND / kg ( 2,2 cent)

In Ba Ria - Vung Tau province, pepper prices today were at 75,000 VND / kg 3.25$/kg), down 500 VND / kg ( 2,2 cent).

In Binh Phuoc province, today pepper prices were purchased at 74,000 VND / kg (3.20$/kg), down 500 VND / kg ( 2,2 cent). So early this morning, pepper prices in key growing areas fluctuated slightly, down 500 VND / kg in the Southeast after 4 unchanged sessions.

On the world market, at the end of the last trading session, spot price of pepper at Kochi - India increased by 300 rupees / quintal, at 38,300 rupees / quintal. The cross rate of Vietnam dong against the Indian rupees (INR) from March 25, 2021 to March 31, 2021 applied for the calculation of export and import tax by the State Bank is 320.08 VND / INR. Thus, Indian pepper prices started to increase slightly after many days of sideways movements.

Noting the fact that traders are coming to the orchard to buy pepper at lower prices than last week, pushing prices down slightly in many localities. When the harvest is in its final stages, this is a "sensitive" time, when growers are confused between selling and holding.

This year's pepper crop in Vietnam is expected to basically end in April 2021, with significantly reduced output. The current pepper price has increased a lot since the beginning of the crop, but is it even possible to increase to 80,000 VND / kg? According to experts as well as speculators, there is absolutely a basis to increase to this level. In the opposite direction, agents and export companies always give the reason that Cambodian and Brazilian pepper will increase imports into Vietnam, so even if output decreases, they still have enough goods to export. Therefore, if the domestic pepper price is too high, they will "quit".

 

Expert advice, market information is always multidimensional, people need to base their actual needs, their local situation, their financial plan to consider selling or storing. However, according to the annual rule of the year pepper prices are not the highest at this point. The highest price is usually available in the third quarter of each year.

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