Pepper price today August 11, 2022 | Latest pepper price market

Pepper prices today, August 11, 2022, stabilized after yesterday’s decrease. Currently, domestic purchasing prices fluctuate between 70,500 – 73,500 VND/kg. The fact that Sri Lanka is in a state of crisis has opened up an opportunity for Vietnam to regain the number one position in pepper market share in India after losing this position to Sri Lanka last year. Due to different soil, technology and varieties compared to Vietnam, Sri Lanka’s pepper prices when exported to India are higher and the purpose of use is also different. However, high inflation, political instability, and gasoline shortages will greatly affect pepper growers in Sri Lanka. This will more or less help Vietnamese businesses increase pepper exports to India. India has a protection mechanism for the domestic pepper industry. Therefore, Indian consumers mainly use the pepper they grow, while imported pepper is mainly for processing and re-export purposes. The Indian government has imposed a 52% import duty on pepper originating from ASEAN countries such as Vietnam and Cambodia, and 70% on pepper from countries such as Brazil and China. However, under the South Asian Free Trade Agreement (SAFTA), Sri Lankan pepper is only taxed at 8% in India. And exports below 2,500 tonnes are not subject to any tax. This is considered a disadvantage of Vietnamese pepper compared to Sri Lanka. #pepper #hotpepper #news #agriculture #nhanong #mientay #taynguyen #pepper #pepper price today #pepper price #pepper today #pepper price udaklak #pepper price ubinhphuoc #pepper price dongnai #the latest pepper price

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