Pepper prices today March 29th: Haven't seen any further uptrend, risky pepper prices do not follow the market rules.

Today's pepper prices were in the range of 72,000 - 75,500 VND / kg. Although pepper prices were still stable this morning, many buying agents are at lower levels compared to the middle of last week. In Dak Lak and Dak Nong provinces, today pepper prices were purchased at 74,000 VND / kg.

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

Meanwhile in Dong Nai, pepper prices today were at 72,000 VND / kg ( USD 3.12/kg).

In Ba Ria - Vung Tau province, pepper prices today were at 75,500 VND / kg ( USD 3.27/kg).

In Binh Phuoc province, today pepper prices were purchased at 74,500 VND / kg (USD 3.23/kg). Thus, at the beginning of this morning, pepper prices in key growing areas were unchanged compared to late afternoon.

In the last week, the price of Southeast pepper decreased slightly by 500 VND / kg, while the price of pepper in the Central Highlands remained the same. Currently, pepper prices have been flat for 3 consecutive sessions in the last days of March 2021. However, according to actual records, many buying agents were at lower levels than in the middle of last week. Therefore, at present, pepper prices have not seen a strong increase and are in a difficult position to predict, because sometimes it does not follow the market rules.

According to experts, pepper prices increased only in the raw material areas, while for export markets, pepper prices have not yet increased accordingly. Therefore, the market in the coming time is forecasted to have potential risks, because prices only increase due to speculation.

On the world market, at the end of the last trading session, the spot price of pepper at Kochi - India remained at 38,000 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. This week, Indian pepper prices decreased slightly.

According to a recent report, Vietnam's pepper market share in India decreased, due to the reduction of pepper imports from Southeast Asian countries, but more emphasis on South Asian and American countries.

Meanwhile, strong demand from Vietnam is helping to boost pepper prices in Cambodia. In the next few days, the Cambodia Pepper and Spices Association has about 11 exporters meeting to calculate the quantity of pepper for export in 2021. The issues raised in this meeting will be sent to agencies and ministries concerned in Cambodia for the direction of support.

A recent report by the Ministry of Agriculture, Forestry, and Fisheries of Cambodia stated that the total pepper area in the country will reach 6,822 hectares in 2020.

VINAPRO TEAM.