On the world market
Update from the International Pepper Association (IPC), in the most recent trading session, the price of Lampung Indonesian black pepper was listed at 6,727 USD/ton, continuing to decrease by 26 USD/ton compared to the previous trading session.
Meanwhile, pepper prices in other countries remain stable. With Brazilian black pepper ASTA 570 trading at 6,400 USD/ton, Kuching Malaysian black pepper is priced at 8,700 USD/ton.
Black pepper 500 g/l and 550 g/l export of Vietnam costs about 6,500 – 6,800 USD/ton.
|
Type name |
World black pepper price list |
|
|
October 24 (Unit: USD/ton) |
% change compared to the previous day |
|
| Lampung black pepper (Indonesia) |
6,727 |
-0.39 |
| Brazilian black pepper ASTA 570 |
6,400 |
0.0 |
| Kuching black pepper (Malaysia) ASTA |
8,700 |
0.0 |
| Vietnamese black pepper (500 g/l) |
6,500 |
0.0 |
| Vietnamese black pepper (500 g/l) |
6,800 |
0.0 |
At the same time of the survey, the price of Muntok Indonesian white pepper decreased by 36 USD/ton, down to 9,210 USD/ton.
While white pepper from Vietnam and Malaysia remained stable, reaching 9,500 USD/ton and 11,200 USD/ton respectively.
|
Type name |
World white pepper price list |
|
|
October 24 (Unit: USD/ton) |
% change compared to the previous day |
|
| Muntok Indonesian white pepper |
9,210 |
-0.39 |
| ASTA Malaysian white pepper |
11,200 |
0.0 |
| Vietnamese white pepper |
9,500 |
0.0 |
Update pepper information
In India, pepper farmers are hoping prices will soon recover after falling by about 19 Rupees/kg in the past half month. Last week alone, Indian domestic pepper prices decreased by 11 Rupees/kg and the total decrease in the past five weeks is about 34 Rupees/kg.
The farming community believes that the price decrease is due to the quantity of goods import from Sri Lanka under the South Asia Free Trade Agreement (SAFTA) with a tax rate of 8%. Currently, the price of unsorted pepper in the Kochi wholesale market is 627 Rupees/kg, while the price of classified pepper is 647 Rupees/kg.
Mr. Kishore Shamji, a pepper trader in Kochi and director of the Indian Pepper and Spice Trade Association (IPSTA), said almost all consumer markets are flooded with Sri pepper. Lanka. This situation has put additional pressure on domestically grown pepper, leading to falling prices and forcing farmers in southern pepper-growing states to sell off their inventories.
Even farmer associations that previously predicted prices would recover are trying to liquidate their inventories, said Kishore Shamji.
Citing data, Mr. Kishore Shamji said that the total amount of pepper imported from Sri Lanka in the third quarter accounted for 10,433 tons out of a total of 12,606 tons imported into India.
Mr. Shamji said Sri Lanka’s pepper production has exceeded 25,000 tons and they are aiming to sell this surplus to India, where there is great domestic demand.
However, he said that imported pepper has lower bulk density, higher moisture rate and the presence of mold, contributing to the decline in domestic pepper prices.
The Kerala branch of the Indian Pepper and Spice Manufacturers Association has called on the Government to restrict imports, as this is severely affecting the interests of domestic farmers.
The association also alleges that loopholes in import policies are allowing imported pepper, intended for re-export, to enter the domestic market.
Mr. Shamji also added that the General Department of Foreign Trade (DGFT) allowing imported pepper to be held for six months before re-exporting is a major shortcoming in the import policy.-export For a sensitive commodity like pepper, according to Thehindubusinessline.
According to VietnamBiz.vn
