At noon today, Thursday, October 4, the domestic price of pepper in buckets increased by 1,000 VND/kg, following in the footsteps of the Binh Phuoc market, which increased earlier yesterday afternoon.
Thus, the price of black pepper bucket in Ba Ria – Vung Tau market is currently at 54,000 VND/kg, in Binh Phuoc and Dak Lak up to 53,000 VND/kg while in Gia Lai it is at the lowest level at 52,000 VND/kg. After more than a week, the price tends to move sideways.
According to agents and companies supplying pepper to exporters, the slight increase in pepper price is due to the demand for spot goods for importers under signed contracts, while exporters with foreign capital in the South are struggling. Looking forward to the new season pepper from Brazil and Indonesia is on the way. It is expected that this source of goods is likely to reduce the price of domestic pepper.
The price of white pepper delivered at the gate of processing factories in Dong Nai and Ba Ria – Vung Tau also increased by 1,000 VND/kg, to 77,000 – 78,000 VND/kg, but the demand was not as high as in previous years.
According to market news, the current supply of Indonesian pepper is not much due to the lesson of last year’s pepper storage, so this year’s crop farmers can sell right away. Another problem is that due to the sharp fall in the rupiah exchange rate, domestic trading companies do not dare to store it. An Indonesian export trader said that this may be an opportunity for Vietnamese pepper to dominate the market, while Indian supply is also starting to show signs of tension.
Yesterday on October 3, the spot price of black pepper in storage in Kerala also increased by Rs 500, to Rs 33,000/quintal (equivalent to USD 4,519/ton), an increase of more than USD 56/ton compared to the previous week.
On the contrary, on the commodity exchange NCDEX – Kochi, the price of pepper for October delivery fell by 335 rupees to 40,145 rupees per quintal (equivalent to 5,497 dollars per ton) and for November delivery fell 345 rupees to 40,420 rupees per quintal. quintals (equivalent to 5,535 USD/ton), the price decreased by approximately 45 USD/ton compared to a week ago. The reason for the decrease was also attributed to the record low Rupee exchange rate.
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