This afternoon, 11/6, the price of pepper in Ba Ria – Vung Tau market fluctuates at 124-125,000 VND/kg, Binh Phuoc market 122-123,000 VND/kg and Central Highlands markets 120-121,000 VND/kg, the difference is only 2-3,000 VND/kg.
At the end of the trading session, which closed early on Saturday afternoon, June 9, the world pepper price on the NCDEX exchange in Kochi-India, the futures for June, July, August delivery rose to Rs 39,410/quintal, respectively. Rs 39,505 per quintal and Rs 39,720 per quintal, equivalent to $7,131/ton, $7,148/ton and $7,187/ton.
Compared to the first session of the month, pepper futures prices increased by Rs 1,185, Rs 1,105 and Rs 975 respectively, equivalent to an increase of $214, $200 and $176. (1 USD = 55,2648 Rupees)
Spot pepper prices in the domestic market of India followed the trend of futures prices, which increased slightly by Rs 200 per quintal to Rs 37,700/quintal, equivalent to $6,822/ton for bucket pepper and Rs 39,200/quintal, equivalent to 7,093 USD/ton for selected pepper MG1, an increase of USD 120-140, mainly due to the increase in the Rupiah exchange rate compared to the first day of the month.
The price of India’s MG1 specialty pepper in the international market is $7,450/ton (C&F) for exports to Europe and $7,750/ton (C&F) for exports to the US, an increase of $200.
Meanwhile, the SMX pepper futures exchange in Singapore from May 28 to now has almost frozen. Note that there are some open contracts but not beyond maintaining and waiting for more active customer participation.
Export prices of pepper from other countries did not fluctuate significantly. Vietnamese black pepper grade 550 Gr/l-FAQ is offered at $6,250-6,300/ton and grade 550 Gr/l-FAQ at $6,550-6,600/ton, (FOB), while black pepper grade 570 Gr/l -Asta is offered at 6,950-7,000 USD/ton, (FOB) unchanged. Brazilian black pepper grade B1 is priced at $6,550-6,600 per tonne and grade B2 is priced at $6,450-6,500 per ton, (FOB) slightly increased.
The world pepper market in the past few days has been expecting new-season pepper from Malaysia and Sri Lanka to cool down, although the export volume of these two countries only accounts for about 10% of the world market share, a modest figure.
It is possible that this year’s output of many countries will increase, but it is not enough to make up for the annual shortage of world demand, according to IPC’s forecast, at least for the next few years. Meanwhile, the world’s export of pepper in 2011 is still 4.39% lower than in 2010, but the annual consumption demand is still increasing.
It is reported that Indian spice traders are increasing the import of new pepper crops from the neighboring island nation of Sri Lanka along the border in order to reduce costs. And pepper importers around the world are also looking for ways to reduce costs with closer sources because transportation costs are now too high. It is known that according to the bilateral trade agreement, India will import 2,500 tons of pepper from Sri Lanka according to the norm. Therefore, it is understandable to wait for pepper supplies from Malaysia and Sri Lanka.
Currently, the amount of pepper from Vietnam to ship is expected to decrease by 10% over the same period, but exporters are not in a hurry even though purchasing power is weak because of the general decline of the world economy.
This afternoon, 11/6, the price of pepper in Ba Ria – Vung Tau market fluctuates at 124-125,000 VND/kg, Binh Phuoc market 122-123,000 VND/kg and Central Highlands markets 120-121,000 VND/kg, the difference is only 2-3,000 VND/kg.
According to traders, this is the domestic price that has been maintained for more than 10 days, although the fluctuation is not significant. This price makes the amount of goods brought to the market also very small because pepper growers are expecting a better price.
English
Follow TTVN/CafeF
Source link
