This morning, September 19, the price of pepper in Ba Ria-Vung Tau was stable at 150,000 VND/kg, setting a new record for the price of black pepper in Vietnam.
The price of pepper in the previous term increased strongly, setting a new record for the world pepper market. In addition to the last 2 sessions of the week, it increased by Rs 763, Rs 806 and Rs 1,038, respectively, ie an increase of 167 USD, 176 USD and 225 USD to 35,630 Rupi/quintal, 36,205 Rs/kg and 36,645 Rupi/quintal, equivalent to USD 7,752/quintal. tons, $7,878/ton and $7,973/ton for October, November and December delivery.
Although the upward price trend in the last months of the year has been confirmed by forecasts of a serious shortage of world pepper production this year, the very strong and continuous increase since the beginning of August until now can confirm. The decision is too fast, beyond imagination not only in the business world, speculators but also in market analysts and forecasters.
According to customs statistics, our country exported 16,988 tons of pepper of all kinds in August, with a turnover of 106.25 million USD. Accumulated in the first 8 months of the year, 99,787 tons of pepper of all kinds were exported, reaching a total turnover of 560.25 million USD, up 8.7% in volume and 83.7% in value over the same period last year. .
The Vietnam Pepper Association (VPA) said that since the beginning of the year, the average export price of white pepper is $7,540/ton and black pepper is $5,235/ton. Compared with the world price level, the export price of pepper of all kinds of Vietnam is low because it is mainly raw or just preliminary processed.
Because the world is only waiting for the supply from Vietnam, exporters have seized the opportunity of high prices to supply reasonable products. Pepper growers in our country also know through the mass media to hold price queues, contributing to market regulation.
The first record in this price increase is Chu Se and Gia Lai markets. On August 24, the price of bucket pepper in Chu Se has peaked at 140,000 VND/kg while other markets are at 130,000 VND/kg. But just over a week later, the price of pepper in Loc Ninh and Binh Phuoc jumped to 148,000 VND/kg while in Chau Duc, Ba Ria-Vung Tau, the largest pepper barn in our country, it was at 140,000 VND/kg.
The movement of domestic pepper prices said that besides the strong buying demand of exporters before the new harvest season, which has stimulated the market price, there is also a phenomenon of pushing up the competitive buying price of traders to meet the orders of the farmers. companies and the competition of Chinese merchants to bring goods to the northern border.
It can be affirmed that this price increase has exhausted the backlog of pepper farmers. Exporting from here to the end of the season depends on the storage capacity of the exporters. It is also not excluded that a significant number of goods are still held by speculators in agricultural products.
Customs statistics show that the export volume in August surpassed the forecast of the Agriculture industry by nearly 2,000 tons, not only contributing to affirmation but also enhancing Vietnam’s No. 1 position in the world pepper export market. for many years to come.
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