Pepper price on Nov 12: Increasing continuously to approach new peaks

Global pepper price

In the international market, pepper price on Nov 12 remained stable after 2 consecutively soars.

At the end of this morning’s trading session (Vietnam time), spot price of pepper at Kochi - India remained unchanged at Rs 34,566.65/quintal; the delivery price in November 2020 increased by Rs 50/quintal, to Rs 34,850/quintal.

Dumping in India was on the rise that prompted organizations to call for anti - import dumping measures.

Besides, pepper farmers in Karnataka, Kerala and Tamil Nadu reported that the cost of harvesting pepper in this year will rise 10 - 15% compared to last year due to the impact of the Covid-19 pandemic that caused migrant labor shortage. This will also lead to a conflict of local labor force during pepper harvest.

Global pepper price on 12 Nov has leveled off, the source of migrant workers has decreased sharply due to Covid-19 pandemic.

Domestic pepper price

Domestic pepper price on Nov 12 continued to increase sharply, bringing the domestic pepper price close to VND 60 million / ton.

Specifically, pepper price in Dak Lak and Dak Nong provinces rose by VND 500 today, to VND 55,500 / kg.

Gia Lai province reported an increase by VND 500, trading at VND 54,500 / kg.

Meanwhile, the pepper price in Dong Nai was purchased at VND 54,500 / kg with a slight increase of VND 500.

Pepper price in Ba Ria - Vung Tau and Binh Phuoc was sold at VND 57,000 / kg and VND 56,000 / kg, respectively.

Thus, domestic pepper price on Nov 12 was around VND 54,500 - 57,000 / kg.