This morning, January 17, the price of pepper in a bucket in Ba Ria-Vung Tau traded at only 108,000-110,000 VND/kg, an average decrease of 5,000 VND/kg after just 1 week of offering a new crop.
Pepper growers here said that this year’s pepper yield certainly decreased quite a lot, but did not give a specific estimate.
The Vietnamese pepper market has been quiet since December. Statistics of the Customs show that in the first half of December, the amount of pepper exported fell by 12.16% compared to the first half of November and was the month with the least amount of pepper exported in 2011.
However, the pepper market in particular and agricultural products in general in this period often declines because it falls on many public holidays, especially the traditional Lunar New Year holiday.
Exported pepper currently offered for sale is only black pepper grade 500 Gr/l-FAQ at $5,400-5,450/ton and white pepper grade 630 Gr/l-FAQ at $9,400-9,450/ton, FOB, but Quantity is also very limited. Compared to last week, white pepper price decreased by 200 USD/ton while black pepper lost 400 USD.
The Agriculture industry forecasts that this year’s export pepper output may decrease by up to one third compared to 2011 due to unfavorable weather and pests causing a large decrease in yield.
On the world market, the price of pepper futures at Kochi India dropped continuously in the last trading sessions of last week. In just two days, January 13 and 14, the January term lost Rs 715, or 2.34%, to Rs 30,605 per quintal, equivalent to $ 5,951 per ton and the February term also lost Rs 680, equivalent to 2. 19%, down to Rs 30,980/quintal, or $6,023/ton.
Meanwhile, the spot price of pepper finished the week with two opposite sessions of the futures price to increase by Rs 133, or 0.42%, to Rs 31,530/quintal, equivalent to USD 6,131/ton. ( 1 USD = 51,4302 Rupees )
According to the pepper futures market analysts, those are only technical correction sessions for paper goods, while real commodity prices continue to increase. It can be seen that the increase in the spot price of pepper has stimulated Indian pepper growers to take advantage of the sale of freshly harvested products to the market in high-priced areas. On the contrary, the decline in the price of pepper futures is detrimental to pepper growers in other countries because domestic pepper prices will also fall.
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