Export prices of Vietnamese black pepper at grade 500 Gr / l-FAQ were offered at US $ 6,000-6,050 / ton and 550 Gr / l-FAQ grade offered at US $ 6,350-6,400 / ton (FOB), down US $ 200 from the previous week. .
Closing Monday's session, world futures prices on NCDEX in Kochi-India continued to decline slightly. The term of April, May and June respectively lost Rs 185, Rs 25 and Rs 255, to Rs 39,070 / quintal, Rs 39,770 / quintal and Rs 40,055 / t, equivalent to US $ 7,661 / ton, US $ 7,799 / ton and 7,855 USD / ton. (1 USD = Rs 50,9953)
Spot price of pepper at the domestic market in India decreased by Rs 1,000, to Rs 37,000 / quintal, equivalent to USD 7,250 / ton, for pail and Rs 38,500, equivalent to USD 7,550 / ton, for MG1 selected pepper. , more than 200 USD reduction.
The downward trend may be extended because the current price is too high compared to the actual price. At this time, Indian pepper price is only for reference because it is too high compared to other major pepper producing countries in the world.
Pepper traders in Lampung Indonesia said that, in the medium and long term, real prices will create unpredictable movements that the upward trend will be inevitable.
Price of futures at SMX-Singapore floor last 10 days
At the same time, pepper price on SMX floor in Singapore was mixed between terms. While April term delivery suddenly increased by 98 USD, a very strong increase to 6,509 USD / ton, May delivery term dropped by 40 USD to 6,409 USD / ton. The reversal shows that the real demand of the near term is still high while the downtrend has not yet dominated the pepper prices in this market.
Although the difference in term price between the two exchanges was shortened, it was still over 1,000 USD. According to analysts of the futures pepper market, the price fluctuation between the two futures shortened to a distance of 300-500 USD is more reasonable.
This morning 3/4, black pepper prices in the domestic market continued to decline 5,000-6,000 VND compared to 1 week ago. Specifically, in Ba Ria-Vung Tau, the price decreased to VND 120,000 / kg, in Binh Phuoc, the price was VND 117,000 / kg, in Dak Lak-Dak Nong and Gia Lai, the price also decreased to VND 115-116 thousand / kg. kg.
Export price of Vietnamese black pepper grade 500 Gr / l-FAQ was offered at US $ 6,000-6,050 / ton and 550 Gr / l-FAQ grade offered at US $ 6,350-6,400 / ton (FOB), down by US $ 200.
Indian pepper, a special type of MG1, exported to the EU cost 8,000-8,050 USD / ton and exported to the US cost 8,300-8,350 USD / ton (C&F), down 300 USD.
Indian pepper traders are now planning to increase imports to domestic demand, which could be nearly double the import volume of the previous year. It is known that in 2011, India imported from our country 6,696 tons of pepper of all kinds with a turnover of 36.3 million USD, among the top 5 imported pepper of Vietnam.
Up to now, farmers have harvested 70-80% of the pepper area. While the disease continues to be threatened without any effective measures to prevent it, the No. 1 storm has left new worries for pepper growers in our country.
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Source TTVN / CafeF
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