Price of Vietnamese pepper on the floor increased “like a kite meets the wind”

SMX will soon bring black pepper equivalent to grade 500 Gr / l-FAQ, which is the black standard grade 2 of Vietnam and also the type we export the most in volume.

Today 15/2, black pepper prices in Ba Ria – Vung Tau are traded at 124,000 VND / kg. Other domestic markets are lower than VND 5,000-6,000 / kg.

Closing on Tuesday, February 14th, world pepper price on NCDEX in Kochi-India bounced back. The term of delivery for the month of 2.3.4 increased by Rs 425, Rs 385 and Rs 305, to Rs 29,535 per quintal, Rs 29,975 per quintal and Rs 30,250 per quintal, equivalent to USD 6,015 per ton, USD 6,105 per ton. and 6,161 USD / ton (1 USD = 49.0987 lakhs). In rupee terms, the price decreased slightly, but converted to USD, the price still increased by 20-60 USD compared to February 10, depending on the month term.

Spot price of pepper increased further Rs 42, to Rs 30,948 / quintal, equivalent to 6,303 USD / ton.

Also on February 14th, black pepper price on SMX floor in Singapore for March delivery increased by USD 257, equivalent to an increase of 4.38%, standing at USD 6,119 / ton, an impressive increase.

In general, pepper price on both term and domestic markets is tending to increase.

It is known that the standard of pepper being traded on SMX is equivalent to 550 Gr / l-FAQ, which is the black standard grade 1 in Vietnam. In the near future, SMX will put black pepper equivalent to grade 500 Gr / l-FAQ, which is the black standard grade 2 of Vietnam and also the type of Vietnam with the largest export volume, to trade to attract the volume of delivery. Translation through the floor increased. Because Vietnamese pepper currently accounts for 43% of global pepper export volume and has been the world's No. 1 pepper exporter for many years.

Vietnam's export black pepper grade of 500 Gr / l-FAQ was offered at US $ 5,900-5,950 per ton, 550 Gr / l-FAQ of US $ 6,250-6,300 per tonne, FOB, up slightly. While Indian black pepper special grade MG1 offered 6,400-6,450 USD / tonne to Europe and 6,750-6,800 USD / tonne to the US, (C&F), down slightly from the previous week.

Under the plan of the Vietnam Pepper Association (VPA) to fully and accurately evaluate and make judgments and forecasts about pepper output in 2012 nationwide, VPA is currently organizing Survey teams in key growing provinces such as Binh Phuoc, Dak Nong, Dak Lak and Gia Lai after surveying in Dong Nai and Ba Ria – Vung Tau in late 2011.

The negative comments on the 2012 pepper of VPA through the previous survey have raised concerns for importers of pepper, so there have been mixed opinions. Through this survey, VPA will definitely assess more accurately and comprehensively.

All major pepper growing areas in the Southeast and Central Highlands have now entered the 2012 pepper crop. There have also been feedback on different crops.