The price of Vietnamese pepper on the floor increased “like a kite in the wind”

Today 15/2, the price of black pepper bucket in Ba Ria – Vung Tau is trading at 124,000 VND/kg. In other domestic markets, prices are lower than 5,000-6,000 VND/kg.

Closing the Tuesday session on February 14, world pepper prices on NCDEX in Kochi-India rebounded. Futures for delivery in February, March and April increased by Rs 425, Rs 385 and Rs 305 respectively, to Rs 29,535 per quintal, Rs 29,975 per quintal and Rs 30,250 per quintal, equivalent to $6,015 per ton, $6,105 per ton and 6,161 USD/ton (1 USD = 49,0987 Rupees). In terms of transactions in rupees, the price decreased slightly, but converted to USD, the price still increased by 20-60 USD compared to February 10, depending on the monthly term.

Spot pepper prices increased by 42 Rupees to 30,948 Rupees/quintal, equivalent to $6,303/ton.

Also on February 14, the price of black pepper on the SMX floor in Singapore for March delivery increased by 257 USD, equivalent to 4.38%, to stand at 6,119 USD/ton, an impressive increase.

In general, pepper prices in both the futures and domestic markets are on an uptrend.

It is known that the standard of pepper put on the SMX exchange is equivalent to 550 Gr/l-FAQ, which is the first class black standard in Vietnam. In the near future, the SMX exchange will put black pepper equivalent to 500 Gr/l-FAQ, which is the second-class black standard in Vietnam and also the one that Vietnam exports with the largest volume, into transactions to attract trading volume. exchange rate increased. Because Vietnamese pepper currently accounts for 43% of the global pepper export volume and has held the number 1 position in the world for many years.

Vietnam’s export black pepper grade 500 Gr/l-FAQ is offered at $5,900-5,950/ton, grade 550 Gr/l-FAQ is priced at $6,250-6,300/ton, FOB, up slightly. While Indian black pepper special grade MG1 is offered for sale at $6,400-6,450/ton to Europe and $6,750-6,800/ton to the US, (C&F), slightly down from last week.

According to the plan of the Vietnam Pepper Association (VPA) to fully and accurately evaluate and make judgments and forecasts about the 2012 pepper production nationwide, the VPA is currently organizing a The survey team in key pepper growing provinces such as Binh Phuoc, Dak Nong, Dak Lak and Gia Lai after surveying in Dong Nai and Ba Ria – Vung Tau at the end of 2011.

VPA’s negative comments about the 2012 pepper crop through the previous survey have raised concerns for pepper importers, so there have been mixed opinions. Through this survey, VPA will certainly evaluate more accurately and comprehensively.

Currently, all the main pepper growing areas in the Southeast and the Central Highlands have entered the 2012 pepper harvest. And there have also been feedback signals about different crops.