On Wednesday, on September 26, the price of black pepper at major production areas in the country increased by 1,000 VND / kg, an increase of 2,000 VND / kg compared to the price at the end of last week. Specifically, the price of black pepper in Ba Ria – Vung Tau was 53,000 VND / kg, in Binh Phuoc and Dak Lak 52,000 VND / kg while in Gia Lai the lowest was 51,000 VND / kg. According to local traders, prices still want to inch up further due to demand from exporters.
Meanwhile, yesterday 25/9, black pepper prices in Kerala, India also increased by Rs 1,000 to Rs 32,500 / quintal (equivalent to USD 4,446 / ton) and specialty pepper in Pulpally in Wayanad district – Kerala was traded at Rs 36,000 / quintal (USD 4,944 / ton) but the supply was very small due to the heavy losses during the “unprecedented” floods in the previous month, so far, so far. Traders in the area estimated the damage to the incident may be about 20,000-25,000 tons.
On the NCDEX commodity floor at Kochi, October delivery price increased by Rs 220, to Rs 40,705 / quintal (equivalent to US $ 5,590 / ton) and November delivery increased by Rs 225, to Rs 40,990 / quintal (equivalent to US $ 5,629 / ton), an increase of US $ 125 compared to a week earlier.
On the contrary, despite the recent harvest, Indonesia and Malaysia's pepper output this year is not as expected as farmers of two pepper exporters, official members of IPC, neglect the orchard, do not care for the price. short. Farmers also do not have the habit of stocking, so they sell right after harvest while the pepper trading companies still “have not strength” after stockpiling the previous crop.
Perhaps because of this, Chinese pepper traders started to return to the Vietnamese market, pushing up the price of black pepper. However, the price of white pepper delivered at processing factories in the South East region remained stable at 76,000 – 77,000 VND / kg but buyers were still not excited.
However, the pressure on world pepper prices is increasing gradually when Brazil has begun to harvest new crop this year, which is expected to increase “crisis” because the new planted area in Brazil is constantly expanding. In recent years, investment levels are said to be the lowest among pepper growing countries.
* Exchange rate: 1 USD = 72.8134 Rupees
* According to a report of the General Department of Vietnam Customs, exports in the first half of September 2018 reached 8,569 tons of pepper of all kinds, with a value of US $ 24.61 million, up 5.93% in volume but down 34 , 65% in value over the same period last year. The average export price of pepper in the period reached US $ 2,872 / ton, down 2.15% compared to the average export price of August 2018.
According to Young Intellectuals
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