(March 13) – Today’s pepper price in Chau Duc, Ba Ria – Vung Tau province is the most competitive pepper market in Vietnam, only 58,000 – 59,000 VND/kg. According to a local company purchasing pepper, pepper prices in the short term will fall further.
Buying buckets of black pepper in Dong Nai
Currently, the harvest of new-season pepper in the Southeast region has moved to the final stage, while the pepper harvest in the Central Highlands, the key pepper growing region of our country, is in full bloom. Therefore, the source of new-season pepper for export traders is quite abundant and also makes them not in a hurry to buy stocks as in previous years.
If calculated according to the fluctuation range, last season’s pepper price in Chau Duc at the beginning of the harvest was 142,000 VND/kg on December 15, 2016, down to 105,000 VND/kg at the end of the harvest on April 15, 2017. , the price fell by 26.6%. This year’s crop, the price at the beginning of the crop was only 78,000 VND on December 15, 2017 and many speculated that the price would be difficult to stop falling.
Today on March 13, 2018, the price of pepper in buckets fell below the mark of 60,000 VND/kg and is likely to reach 55,000 VND/kg if the speculative buying force and buying reserve of exporters do not soon export. presently.
An Export Trader with foreign capital (FDI) said that because it is difficult to buy goods from Vietnamese farmers to deliver under contracts with traditional customers, last year they had to import pepper from Indonesia and Brazil to have goods for delivery. While a large percentage of pepper does not meet quality inspection in the EU, they are forced to reduce the selling price for customers if they do not want to receive the goods back. Therefore, according to them, the export business of Vietnamese pepper at this time must take into account the risk factor more than before.
When asked why it is difficult to buy goods from farmers, many market observers share the same thought that it is possible that the high price sentiment in the past several years (when the price peaked at nearly 4 times the current price) has causing pepper farmers to hesitate and hesitate to sell at too low a price. They want to wait a little longer for the price to rise again, but for the exporter, that is not possible.
According to last week’s market report of the International Pepper Association (IPC), Exporters in Vietnam offered 570 Gr-Asta black pepper at $3,015 per tonne and 550 Gr-grade black pepper. FAQ at $2,955/ton (FOB-HCM).
Trade sources in Dubai also said Brazilian black pepper was offered B-Asta for $3,100, B1 for $3,000 and B2 for $2,900/ton.
Meanwhile, the price of black pepper Lampung (Indonesia) also offered for sale fluctuated around USD 2,900/ton (FOB).
According to observers, the asking prices of the current producing countries have shown that the global supply of pepper is already quite abundant and therefore, the price of pepper is in a prolonged recession.
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