The price of black pepper in a bucket in Ba Ria-Vung Tau dropped to 140,000 VND/kg, losing nearly 10,000 VND/kg in just half a week.
Despite benefiting from the monthly term change, world pepper prices continued to decline in line with the general momentum of many commodities. Through the first two trading sessions of the week, the futures for delivery in December 2011 and January and February 2012 respectively decreased by Rs 280, 345 and 245 to Rs 34,520 per quintal, Rs 34,660 per quintal and Rs 34,830 per quintal, respectively. equivalent to $6,630/ton, $6,656/ton and $6,689/ton. Spot pepper also dropped to Rs 34,425 / quintal, equivalent to USD 6,611 / ton.
The rupiah exchange rate lost 4.33% against the USD 1 week ago, making pepper prices on the Indian floor much cheaper than other major pepper exporting countries and more competitive. So not only pepper but also the price of other commodities in Indian rupees also fell sharply. Importers have therefore turned to look for cheap sources in this country, although there is still more than a month left to start the new crop.
Yesterday 23/11, the price of black pepper bucket in Ba Ria-Vung Tau down to 140,000 VND/kg. Prices in other Vietnamese domestic markets are lower than 4,000-5,000 VND/kg. On November 18, the price of pepper in Vung Tau was 149,000 VND/kg.
Vietnamese black pepper for export is offered in 500 Gr/l-FAQ grade at $7,150/ton, 550 Gr/l at $7,450-7,500/ton, 550 Gr/l-Asta at $7,950-8,000/ton, FOB . Brazilian black pepper Bra1 is priced at $7,150/ton, Bra2 is at $7,100/ton and Bra ASTA is $7,200/ton, FOB.
While Indian pepper is offered to the EU market with special grade MG1 priced at $7,200-7,250/ton and the US market is $300/ton higher, C&F.
Particularly, white pepper is only recorded in a few Vietnamese exporters offering 630 Gr/l-FAQ priced at 10,200-10,400 USD/ton in limited quantities.
The International Pepper Association (IPC) is holding its 39th annual meeting from November 22-26, 2011 in Indonesia.
Information about the forecast of Vietnam’s pepper production in the coming season reaching 150,000 tons is unlikely because in pepper growing areas, the yield has been severely reduced due to the influence of the weather and many areas have been wiped out because of the weather. pests spread.
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