The output of Indonesia and Malaysia is not as expected because farmers neglect their orchards, moreover they do not have the mentality to hoard goods after harvesting, so it seems that Chinese traders are returning to the Vietnamese market. South to increase buy.
Today, Wednesday, September 26, the price of black pepper in the main domestic production regions increased by 1,000 VND/kg, which is an increase of 2,000 VND/kg compared to the price at the end of last week. Specifically, the price of black pepper in a bucket in Ba Ria – Vung Tau is 53,000 VND/kg, in Binh Phuoc and Dak Lak 52,000 VND/kg while in Gia Lai has the lowest at 51,000 VND/kg. According to local traders, prices want to move up further due to the demand from exporters.
Meanwhile, yesterday on September 25, the price of black pepper bucket in Kerala, India also increased by Rs 1,000 to Rs 32,500/quintal (equivalent to USD 4,463/ton) and specialty pepper at Pulpally in Wayanad district – Kerala was traded at Rs 36,000/quintal (equivalent to USD 4,944/ton) but the supply was very small due to heavy damage in the “unprecedented” flood last month, which has not been reported so far. Traders in the area estimated the damage of the next crop could be about 20,000-25,000 tons.
On the NCDEX commodity floor in Kochi, the price of pepper for October delivery increased by Rs 220, to Rs 40,705 per quintal (equivalent to $5,590 per ton) and November delivery increased by Rs 225, to Rs 40,990/ton. quintals (equivalent to $5,629/ton), up $125 from a week earlier.
On the contrary, even though it has just been harvested, this year’s pepper output of Indonesia and Malaysia is not as expected because the farmers of the two pepper exporters, official members of the IPC, neglect their orchards and do not take care of them because of the high price. short. Farmers also do not have the habit of storing goods, so they sell immediately after harvest while pepper companies are still “not fully recovered” after storing the previous crop.
Perhaps because of this, Chinese pepper traders began to return to the Vietnamese market, driving up the price of black pepper. However, the price of white pepper delivered at processing factories in the Southeast region is still stable at 76,000-77,000 VND/kg, but buyers are still not excited.
However, the pressure on world pepper prices is gradually increasing as Brazil enters the harvest of this year’s new pepper crop, which is expected to increase “huge” due to the continuous expansion of new planting areas in Brazil. In recent years, investment is said to be the lowest among pepper growing countries.
* According to the report of the General Department of Vietnam Customs, exports in the first half of September 2018 reached 8,569 tons of pepper of all kinds, with a turnover of 24.61 million USD, up 5.93% in volume but decreased by 34 %. 65% in value over the same period last year. The average export price of pepper in the period reached 2,872 USD/ton, down 2.15% compared to the average export price in August 2018.
* Exchange rate : 1 USD = 72.8134 Rupees
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