On Friday, June 22, pepper price in raw material areas continued to weaken. The price of black pepper at Ba Ria – Vung Tau, the most competitive local area – and in Binh Phuoc only decreased by 1,000 VND / kg, to 55,000 – 56,000 VND / kg while the prices in the Central Highlands fell 2,000 VND / kg compared to a week earlier, down the fluctuation between 53,000 – 54,000 VND / kg.
As such, prices of black pepper have declined slightly since the beginning of this month due to new crop pressure being harvested from Sri Lanka, Malaysia and Indonesia, members of the International Pepper Community (IPC).
However, preliminary data of Vietnam Customs showed that pepper export in the first 15 days of June still reached 10,996 tons of pepper of all kinds, bringing export in the first 5 and a half months of 2018 to a total of 120,903 tons, a significantly higher than the same period last year. At the same time, the data also shows that the average export price decreased only 10 USD / ton compared to the average export price last month, a figure showing the trend of export prices slightly decreased compared to the export price last month. .
The latest information from the Indian market indicates that pepper farmers in Karnataka, India's leading pepper production state, have just held an iconic demonstration in front of the Production Ltd office. Indian Foods Pvt (IPP), a Jayanti group company, accuses the company's import invoice. However, the company has denied the allegations of growers and said that they have complied with the import norms.
Meanwhile, the grower said that the company had imported low-price pepper and declared a price higher than Rs 500 a kg, instead of buying from a Karnataka farmer who was selling at Rs 330 / kg (about VND 110,000 / kg). ).
Reportedly, IPP is an import-export and value-added processing company, so sometimes they import goods from global customers just for processing and re-export at their request. Each year IPP exports about 2,000 tons of domestic pepper and re-exports about 1,500 tons of pepper after processing.
The price of Indian black pepper in the domestic market of Kerala state has decreased by Rs 400 more than the previous week, to Rs 30,500 / quintal (equivalent to USD 4,472 / ton) for the type of pepper and at Rs 33,600 / quintal ( Equivalent to 4,927 USD / ton) for semi-processed type.
Meanwhile, the price of black pepper for export of origins was almost unchanged.
According to observers, pepper price in the domestic market of Vietnam weakened when some warehouses had speculative discharges due to unexpected increases, while loan interest rates started to become a burden, so it was necessary. withdrawal, conversion of investment.
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