The price of pepper fluctuated by too large a margin in the world futures market for a few days, making both buyers and sellers hesitate.
Because pepper prices in the futures market fluctuated strongly, erraticly increasing or decreasing, there was no direction, leading to unstable domestic pepper prices. In Ba Ria-Vung Tau, on Tuesday morning, September 27, the price of black pepper in a bucket fell to VND 142,000/kg, a loss of VND 17,000/kg compared to the high reached at noon on September 23. The next afternoon, September 28, the price of black pepper rose to VND 154,000 and fluctuated around that level for 2 days.
Closing the session yesterday, September 29, pepper prices for October, November and December futures fell by Rs 630, Rs 695 and 710, respectively, to Rs 35,290 per quintal, Rs 35,995 per quintal and Rs 36,660 per quintal, equivalent to $7,192 per quintal. tons, 7,335 USD/ton and 7,471 USD/ton.
The drastic fluctuation of the price range in the world futures market during the past few days has made both buyers and sellers hesitate.
The company came to place an order for export demand, but many agents did not want to export because the price went up and down too much, it was a pity to sell it because it was difficult to have such an opportunity now, a large agent said.
Many traders also complained that due to unstable prices, they could not buy any shipments this week, the market was almost stagnant, although they also confirmed that the amount of inventory in the population was not significant, only in large dealers and a few small speculators only.
Export pepper prices in major markets remained at the same level as last week despite the lack of purchasing power because prices were too high. On the contrary, exporters believe that the sharp drop in pepper futures prices is due to the liquidation of large speculators on the floor.
Statistics of the Customs show that in the first half of September, 5,747 tons of pepper of all kinds were exported, reaching a turnover of 38.19 million USD, up 111.91% in volume and 222.28% in value compared to that of the previous month. the same period last year, the average export price reached 6,645 USD/ton, up 6.25% compared to the average export price of the previous month.
According to the Center for Informatics and Statistics of the Agriculture industry, it is estimated that pepper exports in September will reach 15,000 tons, with a turnover of 103 million USD, bringing the export volume of pepper in 9 months to 115 thousand tons with a turnover exports of 663 million USD, up 17.4% in volume and more than 2 times in value over the same period last year.
Price fluctuations make the supply more limited to the market.
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