Prices of Black Pepper kept firmer and less supply from farmers/dealers with up 0.7% compared with last week Demand coming better from various countries such as EU / USA / ASIA. Although pepper export volume decreased dramatically in September because Vietnam banned movement to prevent Covid-19, pepper prices still maintained good upward momentum with an increase of 3.77%. In the past month. The reason pepper prices are increasing well is due to the motivation from orders to China, serving the domestic consumption market during the National Day. Besides, there is a positive signal from the fight against Covid-19, when Vietnam reopened again after September 30. Thus up to the present time, pepper price in 2021 still maintains a very steady uptrend due to 2 main reasons:
Vietnam and some significant pepper-producing countries such as Brazil, Indonesia and India are affected by climate change, pandemics, so the output in 2021 decreased sharply. Supply decreased, pepper exports in disease conditions plus increased logistics costs and other costs increased, along with production stagnation, affecting productivity, export output, and delivery schedule. Increased Demand but the untimely supply of goods also creates conditions for buyers to push up the purchase price in the SPOT market. Currently, the world is entering new energy, “fever”. The high price of gas and crude oil, plus transportation costs, will push up the price of input materials and the production cost of commodities, including pepper. This is the basis that the price will continue to increase at the end of this year.
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