Pepper prices, August 2: Move sideways in both the domestic and the world market

In the world market

In the world market, pepper prices today, August 2, at Kochi exchange, India, stays at INR 41,650 per quintal.

The cross rate of Vietnam Dong to Indian Rupee (INR) from July 29 to August 4, 2021, applied by the State Bank for export and import tax calculation, is VND 311.89/INR.

Previously, pepper prices erratically increased or decreased in a narrow range last week.

In summary, pepper prices today, August 2, continue to move sideways compared to yesterday morning.

In the domestic market

Pepper prices today, August 2, remain stable compared to yesterday morning.

Specifically, the pepper price in Dak Lak and Dak Nong provinces is at VND 73,000 per kilogram.

Gia Lai province's pepper price today is at VND 72,000 per kilogram.

Today, Dong Nai province's pepper price remains at VND 72,500 per kilogram, unchanged compared to yesterday.

The pepper in Ba Ria-Vung Tau province is purchased at the highest of VND 75,000 per kilogram.

In Binh Phuoc province, the pepper price today is traded at VND 74,000 per kilogram.

Social distancing in the southern provinces has affected the trade with farmers. As a result, the market has fallen into a shortage of reserves. Therefore, export companies have faced many difficulties in collecting pepper since July.

The fact that Ho Chi Minh City and some southern provinces continue to apply social distancing under Directive 16 of the Prime Minister will certainly affect the pepper market in August 2021.

Indonesia, China, Malaysia and Brazil have entered the new harvest since July, leading to the increase in the global pepper supply. Vietnam's black pepper price has increased by 33.1-32.8% (or US$ 945-964 per ton) compared to the beginning of the year. As a result, VND 72,000-75,000 per kilogram in the domestic market has been the highest price in the past 4 and a half years.

In summary, pepper prices today, August 2, are trading at VND 72,000-75,000 per kilogram in the domestic market, stable compared to yesterday.