Pepper price on Nov 11: Continue to increase by VND 1,000

Global pepper price

In the global market, pepper price on Nov 11 soared continuously.

At the end of this morning trading session (Vietnam time), the spot price of pepper at Kochi - India increased by 176.65 rupees / quintal (0.51%), to 34,566.65 rupees / quintal; the delivery price in November 2020 increased by 100 rupees / quintal, to 34,800 rupees / quintal.

The pepper price today, Nov 11 in the global market continued to increase and was recovering rapidly.

Domestic pepper price

Pepper price on Nov 11 in the domestic market reported a sharp rise, increasing by VND 1,000. Pepper price reached the peak of VND 56,500/ kg.

Specifically, pepper price in Dak Lak and Dak Nong provinces today continued to increase by VND 1,000, up to VND 55,000/ kg.

Today's pepper price in Gia Lai province also went up by VND 1,000, trading at VND 54,000/kg.

Meanwhile, pepper price in Dong Nai was purchased at VND 54,000/kg, slightly increasing VND 500 compared to yesterday.

Pepper price in Ba Ria - Vung Tau was reported an increase of VND 500 to be purchased at VND 56,500/kg.

In Binh Phuoc province, pepper price also increased to VND 55,500/ kg.

The rising of domestic pepper price in this year is lighting farmers' hope. In previous years, when pepper prices were around VND 30,000-40,000/ kg, many famers abandoned their farms.

Thus, the pepper price today Nov 11 in the domestic market was around VND 54,000 - 56,500 / kg.