Currently, the domestic price of bucket pepper in Vietnam is fluctuating in the range of 120,000-130,000 VND/kg, equivalent to 5,750-6,250 USD/ton, while the domestic price of pepper in India is 7,250-7,500 USD/ton.
Closing yesterday, world pepper futures prices on NCDEX in Kochi-India continued a slight downtrend. The April term lost Rs 680, down to Rs 40,820/quintal, equivalent to a loss of USD 134, to USD 8,042/ton and the May term also lost Rs 875, down to Rs 41,470/quintal, equivalent to a loss of USD 172. down to 8,164 USD/ton ( 1 USD = 50,7983 Rupees ). The reason for the decrease is said to be profit-taking activities and because investors on the floor pushed the price up too high.
Spot pepper prices in India also fell by Rs 500 per quintal to Rs 38,000 per quintal, or $7,481 per tonne, for bucket pepper and Rs 39,500 per quintal, or $7,776 per ton, for selected pepper.
At the same time, pepper futures on the SMX exchange in Singapore also dropped. The April term lost $95, down at $6,556/ton and the May term lost $78, down at $6,622/ton. The forward price difference between the two exchanges still remained at a high level.
According to experts analyzing the world pepper market, the reason for the price difference between the two exchanges is because the SMX-Singapore exchange takes 550Gr/l-FAQ pepper from Vietnam, which is also common in other producing countries. export pepper in Southeast Asia, as a trading base. While the NCDEX-India exchange takes MG1, which is a special Indian pepper of higher quality, as the trading base.
Analysts also affirmed that the pepper market often contains unpredictable fluctuations, but the high price is not difficult to understand, because in 2012 the world supply is still in short supply and the production forecast is not very likely. mandarin.
A large Indian agricultural trader who has built a processing facility for agricultural products in Vietnam said that the basis for comparison is the price of pepper buckets.
Currently, the domestic price of pepper bucket in Vietnam is fluctuating in the range of 120,000-130,000 VND/kg, equivalent to 5,750-6,250 USD/ton, while the domestic price of pepper bucket in India is 7,250-7,500 USD/ton. the difference is over 1,000 USD/ton.
This difference represents a very high domestic demand because India is the second most populous country on the planet, especially this year’s crop has not met expectations. Therefore, the demand for importing more pepper from Vietnam is quite large.
This morning, March 29, the price of pepper in the domestic markets continued to slide in a downward trend that lasted just 3 weeks. In Ba Ria-Vung Tau, the price dropped to 124,000 VND/kg, in Binh Phuoc the price was 120-121 thousand VND/kg, in Dak Lak-Dak Nong and Chu Se, Gia Lai the price was also 118-120 thousand VND/kg. , the average domestic price decreased by 10-12 thousand VND/kg in the past 3 weeks.
Vietnamese black pepper exports 500 Gr/l-FAQ for $6,250/ton and 550 Gr/l-FAQ for $6,600/ton (FOB), while exported 550 Gr/l-Asta black pepper has price 7,000-7,050 USD/ton with limited quantity offered. White pepper grade DW 630 Gr/l is offered at $9,300-9,350/ton (FOB).
Indian pepper, MG1 specialty, is priced at 8,350 USD/ton exported to the EU and 8,650 USD/ton exported to the US (C&F).
According to a report of the Agriculture industry, it is expected that in March, exports are estimated at 12,000 tons, with a turnover of 82 million USD, bringing the export volume of pepper in 3 months to 24,000 tons with an export value of 164 million USD. down 7.5% in volume but still up 29.1% in value over the same period last year. Export pepper price increased sharply, the average price of 2 months reached 6,816 USD/ton, up 42.4% over the same period last year.
English
Follow TTVN/CafeF
Source link
