Just this week, the domestic price of pepper bucket increased by an average of 5,000-6,000 VND to 125,000 VND/kg, a fairly rapid increase. Domestic pepper price is forecasted to continue to increase.
This morning 20/4, the price of black pepper in the domestic bucket simultaneously increased in all markets. Specifically, in Ba Ria – Vung Tau the price is 125 thousand VND/kg, in Binh Phuoc it is 123,000 VND/kg, in Dak Lak-Dak Nong and Gia Lai the price is 121-122 thousand VND/kg. It is forecast that domestic pepper prices will continue to increase slowly.
While on April 17, on SMX-Singapore, pepper futures for April delivery stopped trading at $6,270/ton, and for May delivery closed at $6,379/ton, the main trend was. across.
The spot price of Indian pepper at the close yesterday remained at Rs 36,600/quintal, equivalent to $7,100/ton for bucket pepper and Rs 38,100/quintal, equivalent to $7,391/ton for selected MG1. Pepper prices in India are forecast to continue to fall.
Recently, the world pepper futures market in India has fluctuated in a rapid downward trend. According to traders trading on the floor, the futures prices of a number of commodities are driven by speculation so high that the Futures Market Commission of India has to consider and raise the issue of the existence of a number of exchanges. translation, including the pepper floor. This move caused investors to retreat and Indian pepper futures prices fell rapidly, almost panicking.
However, investors’ anxiety has passed, pepper futures prices have slowed down, helping Vietnam’s domestic and export prices to recover according to the supply and demand factors of the world market. Only this week, the domestic price of pepper bucket increased by an average of 5,000-6,000 VND/kg, a fairly rapid increase. This makes pepper growers excited, expecting the price of this year to be the same as last year because the world supply and demand has not improved.
According to the recently announced Customs data, exports in March reached 18,779 tons of pepper of all kinds, with a turnover of 128.1 million USD, up 119% in volume and 120.9% in value over the previous month. In the first 3 months of the year, exports reached 30,790 tons of pepper of all kinds with a turnover of 201 million USD, up 18.3% in volume and strongly 65% in price compared to the same period last year.
India still remains in the top 5 major pepper import markets of Vietnam with the number of imports in March was 1,848 tons of pepper of all kinds, bringing the total number of imports in the first quarter to 2,328 tons.
The Indian special MG1 pepper on the international market is $7,450-7,500/ton (C&F) to Europe and $7,750-7,800/ton (C&F) to the US, unchanged.
Vietnam’s black pepper export grade 500 Gr/l-FAQ is priced at $6,150-6,200/ton (FOB) and 550 Gr/l-FAQ is offered at $6,500-6,550/ton (FOB), a slight increase.
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