This morning, Thursday, April 19, the price of black pepper in Ba Ria – Vung Tau has increased to 63,000 VND/kg, other key pepper growing localities also fluctuated in the range of 60,000 – 62,000 VND/kg.
Read more: >> Consolidation agents push pepper prices up sharply
>> Pepper prices rebounded, but did not promise anything yet
This is the highest price of pepper since the Lunar New Year, but it is still lower than about 15,000 VND/kg from the beginning of the new crop.
Besides the force of the speculative season starting to appear in the low price area, the price of black pepper has increased continuously in the past 1 month since the price dropped to the bottom at 50,000 VND/kg in Gia Lai market. The appearance of Chinese traders helped push up prices and exporters’ purchases after reaching a historic record export figure, according to a preliminary data report for March by the General Department of Customs.
The current difficulty is that importers offer relatively low bid prices, while the main harvest in the Central Highlands of our country is in the final stage, the amount of pepper sold by farmers is not abundant, many farmers People with financial potential also don’t sell at current prices… are the factors that push prices up.
The report at the end of the harvest season of the Department of Agriculture and Rural Development of Cu Kuin district, one of the districts with a large pepper growing area of Dak Lak province, shows that this year’s pepper crop has obtained 8,438 tons of pepper, down 29.8% and the average yield was only 2.5 tons/ha, down 31.1% compared to the previous crop. The reason for the decline is attributed to erratic rains during the flowering period.
As reported by the International Pepper Community (IPC), it seems that the recent downtrend has been stopped. Except for India, which continues to be under pressure from imported pepper, prices of pepper from other origins have tended to increase. Export price of Vietnamese pepper 500 g/l is 2,750 USD/ton and 550 g/l is 3,050 USD/ton, (FOB). While recorded in Sarawak and Sri Lanka prices were relatively stable. White pepper in Hainan (China) also increased slightly.
It is worth noting that at this time Vietnamese pepper dominates the world supply in the short term. Cambodia’s harvested pepper is mainly sold to export traders in Vietnam, although recently there has been competition from Chinese traders.
According to a reliable source, although Indonesian farmers have sold out of pepper, some Export Traders in this island country still hold a relatively large amount of pepper bought from the beginning of last year’s crop at a high price. Perhaps they are still waiting for the right time to release the goods while this year’s crop of Indonesia will be harvested around July-August. “This is also a pretty significant ticking time bomb,” said a pepper market expert. comment.
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