Pepper prices today April 10: The trend has decreased slightly, the market warned of many potential risks

Today's pepper prices are in the range of 70,500 - 74,000 VND / kg (3.06$- 3.21$/kg) today. Around the world, Indian pepper prices continued to decline slightly.

In Dak Lak and Dak Nong provinces today pepper prices were purchased at 72,000 VND / kg (3.12$/kg).

In Gia Lai province, today's pepper prices were at VND70,500 / kg (3.06$). .

Meanwhile in Dong Nai, pepper prices today stood at 71,000 VND / kg (3.08$). 

In Ba Ria - Vung Tau province, pepper prices today were at 74,000 VND / kg (3.21$).

In Binh Phuoc province, today pepper prices were purchased at 73,000 VND / kg. Thus, at the beginning of this morning, pepper prices remained stable compared to the same time yesterday morning.

On the world market, at the end of the last trading session, spot price of pepper at Kochi - India decreased by 0.03 rupees / quintal, at 40,250 rupees / quintal. After a period of continuous growth, Indian pepper prices tend to decrease slightly. The cross rate of Vietnam dong against the Indian Rupe (INR) from April 8, 2021 to April 14, 2021, applied by the State Bank for calculating import and export duties, is 313.04. VND / INR.

In this year's pepper crop, pepper prices increased well, helping farmers to make a profit. However, the market is potentially volatile, the unpredictable rise and fall prices make people worry. Besides, there is also a concern about the productivity of many pepper gardens being seriously reduced, the hiring price of labor for harvesting increases, the disease still ...

Mr. Phan Minh Thong - General Director of Phuc Sinh Company, said that the rapid increase in pepper prices from the end of February 2021 up to now is largely due to the speculation phenomenon of traders and agents.

VPA recommends that pepper growers should consider selling at the right time, effectively, without borrowing money to stockpile to avoid the risk of market downturn.

In particular, localities also need to limit the race of farmers to expand pepper growing acreage as in 2015-2016 because of many potential risks.

VINAPRO TEAM.