Some traders specializing in supplying products to pepper processing and exporting companies said that companies are increasing their search for sources of goods because the demand of foreign customers is interrupted during the Tet holiday.
At the end of last week, pepper futures prices in the Kochi-India market fell slightly, although rising prices were still the main trend in the past week. Futures in the months of February, March, and April were down at Rs 30,250/ton, Rs 30,330/quintal and Rs 30,400/ton, respectively, equivalent to USD 6,179/ton, USD 6,195/ton, USD 6,209/ton. While the spot price of pepper continued to increase by Rs 158, to Rs 31,186/quintal, equivalent to $6,370/ton. (1 USD = 48.9598 Rupees)
The price of pepper futures is currently increasing continuously, partly because the pepper yield in India this year is not as expected and the farmers in this country grow pepper in an extensive way. Therefore, the world supply of pepper in the immediate future will be scarce.
According to observers on the floor, for about two months now, the price of pepper for delivery on the futures has always been lower than the spot price. This is not only beneficial for Indian pepper farmers who are in the harvest season but also a signal that the world pepper market this year continues to contain unpredictable fluctuations.
Currently in Chau Duc, Ba Ria-Vung Tau, the district with the largest number of pepper areas in our country, has begun to accelerate the progress of new pepper harvest in 2012. Followed by the Southeast region, the Central Highlands has also started to accelerate. began to harvest pepper in some early ripening regions.
This morning, February 6, the price of black pepper for the new crop in Ba Ria – Vung Tau increased slightly. Currently trading around 116,000-117,000 VND/kg, an increase of 4,000 VND compared to the first days of the crop. Although the supply has been brought to the market, the price of black pepper still inched up, confirming that the demand for real goods in the market is still tense.
Vietnam’s export black pepper 500 Gr/l-FAQ is offered at 5,800 USD/ton, 550 Gr/l-FAQ grade is priced at 6,150-6,200 USD/ton, FOB, equivalent to the price before Tet holiday. While Indian black pepper special grade MG1 priced at $6,600/ton to Europe and $6,900/ton to the US, (C&F), continued to increase slightly.
According to Customs statistics, pepper exports in the first 15 days of January 2012 reached 1,978 tons of pepper of all kinds with a turnover of 14 million USD. prices compared to the same period last year due to high export prices.
It is known that on February 9-11, 2012, this is India’s Spice Festival, there will be about 200 guests around the world invited to attend, including many processors and traders of nuts. pepper.
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