Therefore, the price of black pepper at Ba Ria – Vung Tau market is currently at VND 54,000 / kg, in Binh Phuoc and Dak Lak to VND 53,000 / kg while in Gia Lai the lowest is VND 52,000 / kg, after more than a week, the price tended to move sideways.
According to agents and companies supplying pepper to exporters, the slight increase in pepper prices was due to spot demand for importers under signed contracts, while exporters with foreign capital in the South were Looking forward to the new crop from Brazil and Indonesia on the way. It is expected that this source of goods is likely to drag down domestic pepper prices.
The price of white pepper delivered at the gate of processing workshops in Dong Nai and Ba Ria – Vung Tau also increased by 1,000 VND / kg, to 77,000 – 78,000 VND / kg, but the demand was not as high as previous years.
According to market news, the current supply of Indonesian pepper is not much due to the lesson of stockpiling last year, so this year, farmers can sell it right away. Another problem is that due to the sharp decline of the Rupiah exchange rate, domestic companies do not dare to reserve. An Indonesian exporter said that this might be an opportunity for Vietnamese pepper to dominate the market, while the Indian supply is also starting to show signs of tension.
Yesterday on 03/10, the price of spot black pepper in stock in Kerala also increased by Rs 500, to Rs 33,000 / quintal (equivalent to US $ 4,519 / ton), an increase of more than US $ 56 / ton from the previous week.
In contrast, on the NCDEX – Kochi Commodity Exchange, October October pepper price decreased by Rs 335 to Rs 40,145 / quintal (equivalent to US $ 5,497 / ton) and November delivery fell by Rs 345 to Rs 40,420 / quintal (equivalent to USD 5,535 / ton), the price is approximately USD 45 / ton compared to a week ago. The reason for the decline is also attributed to the record low Rupee exchange rate.
The price of black pepper in the domestic market in some producing countries increased slightly due to the depreciation of the local currency against the USD.
According to Young Intellectuals
Source link
