The demand for purchasing from export companies is currently very low. Meanwhile, pepper growers are not in a hurry to sell because they expect the price to be higher in the near future.
News from the annual conference of the American Spice Trade Association (ASTA), held at the end of April in the state of Florida, said that the association is considering stepping up the safety inspection of seasoning products according to the regulations. new regulations. This could be barriers to tightening supply and pushing pepper prices in North America to a higher level.
After consecutive recessions due to the absence of buyers and a sharp drop in the Rupee exchange rate against the US dollar, world pepper futures prices in Kochi-India yesterday, Wednesday, May 16, showed signs of improvement. recovery signal. Futures in May, June, and July rose to Rs 37,470 per quintal, Rs 38,100 per quintal and Rs 38,705 per quintal, respectively, equivalent to $6,969/ton, $7,086/ton and $7,199/ton. (1 USD = 53.7647 Rupees)
Spot pepper price in the domestic market of India increased again to Rs 36,700/quintal, equivalent to USD 6,826/ton for bucket pepper and Rs 38,200/quintal, equivalent to USD 7,105/ton for selected MG1. Although the domestic price increased by Rs 500, the USD exchange rate only increased slightly by 30-50 USD.
Indian specialty pepper (MG1) on the international market is priced at $7,200/ton (C&F) for Europe and $7,500/ton (C&F) for the US, unchanged, still maintaining a competitive price compared to consumption of other origins.
According to Indian pepper traders, they continue to promote the import of goods from other countries, especially those originating from Vietnam, for processing and re-export to make a profit thanks to the competitive price of Indian pepper. more competitive.
Closing the same session on May 16, on the SMX exchange in Singapore, the price of pepper for May delivery increased by 128 USD to 6,562 USD/ton and for June delivery also increased by 67 USD to 6,449 USD/ton.
The futures price difference between the two world pepper exchanges has shortened to 400-600 USD/ton, but it is still an unreasonable level.
This morning on Thursday, May 17, the domestic pepper price increased by 1,000-2,000 VND, up to the price set about 3 weeks ago. Specifically, in Ba Ria – Vung Tau 127,000 VND/kg, 124,000 VND/kg in Binh Phuoc and 122-123 thousand VND/kg in Gia Lai and Dak Lak – Dak Nong.
Export price of Vietnamese black pepper 500g Gr/l-FAQ at $6,350-6,400/ton and 550 Gr/l-FAQ at $6,650-6,700/ton, while white pepper 630Gr/l-FAQ offered price 9,400-9,450 USD/ton, (FOB), increased slightly.
Black pepper according to ASTA standards of origin is priced from 7,200-7,500 USD/ton, (FOB).
The Vietnam Pepper Association (VPA) has just issued a warning that our country’s pepper exporters need to be careful in signing export contracts because world pepper prices are in an unstable period. This will be an excuse for importers to squeeze the price of goods and then push the price up to benefit.
Pepper exports in the first 4 months of 2012, in volume reached 47,784 tons of all kinds of pepper, of which 40,946 tons of black pepper, 6,838 tons of white pepper. Total value of turnover reached 323.6 million USD, of which black pepper was 260.2 million USD, white pepper was 63.4 million USD. The average price is 6,772 USD/ton, of which black pepper is 6,355 USD/ton, white pepper is 9,272 USD/ton. (VPA)
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