The amount of pepper brought to the market is small, so traders are not interested in buying it because the cost of circulation is quite high and the profit is not enough.
This morning, December 9, the price of black pepper in Ba Ria-Vung Tau fell to 136,000 VND/kg, equivalent to 1,000 VND/day within a week.
The price of pepper futures in the Kochi-India market, ended the session down by Rs 32, standing at Rs 34,892 per quintal for spot pepper and for December delivery increased Rs 60 to Rs 35,485 per quintal. partly for the previous strong decrease session.
According to analysts on the floor, since the trading session on November 23 until now, pepper futures prices have started to heat up as the volume of goods from the world’s No. 1 pepper producing country has decreased rapidly. So the near-term contracts, pushed higher unconventionally, are the center of attention.
The amount of pepper brought to the market is very small, so traders are not interested in buying it because the cost of circulation is quite high, the profit is not enough to compensate while the company’s import demand is not available.
A pepper export trading company in Ho Chi Minh City said that it is ready to have enough goods to deliver for new contracts according to the needs of customers from here until the end of the season. At the same time, it also said that the export price of low-quality pepper decreased slightly by 125-250 USD/ton depending on the type, compared to the price 1 week ago.
Exported black pepper grade 500 Gr/l-FAQ priced at $6,850/ton, grade 550 Gr/l-FAQ priced at $7,150/ton and white pepper FAQ grade at $9,750/ton, while DW grade cost $9,950/ton but very limited, (FOB).
Special Indian black pepper MG1 exported to the EU at $7,350/ton and to the US at $7,650/ton, (C&F), unchanged, still maintaining a very competitive price.
The prices of pepper according to the ASTA standards of the producing countries remained unchanged and remained at a high level.
The market is lacking the purchasing power of importers, the resting sentiment begins to appear as Christmas and New Year holidays get closer.
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