This morning, 10/2, the price of black pepper in Ba Ria-Vung Tau was purchased by traders for 121,000-122,000 VND, up 10% within 1 month after the new crop was brought to the market.
Closing on Wednesday, February 2, Indian pepper futures prices on NCDEX remained in a downtrend. February delivery stood at Rs 29,510 / quintal, equivalent to US $ 5,997 / ton and March delivery stood at Rs 29,510 / quintal, equivalent to US $ 6,046 / ton. (1 USD = Rs 49.2094).
Meanwhile, spot price of pepper remained at Rs 31,000 / quintal, equivalent to USD 6,300 / ton, continuing to maintain a higher gap due to real demand. This also contributes to explain why, but at the beginning of the season, the price of domestic pepper in Vietnam soon warmed up.
At the end of 2011 survey organized by Vietnam Pepper Association (VPA), in order to initially grasp the situation of production, productivity, output of pepper harvest in 2012, the survey team did not look much. optimistic, if not quite pessimistic about this year's consumption.
And in order to have more complete and accurate assessments, judgments and forecasts about pepper output in 2012, VPA will continue to organize a survey team, right after the Lunar New Year, in key growing provinces such as Binh Phuoc, Dak Nong, Dak Lak and Gia Lai.
According to the Ministry of Agriculture and Rural Development, the ministry forecasts that Vietnam's pepper export in 2012 will reach nearly 86,000 tons, earning nearly US $ 619 million, down 30% in volume but down only 16% in price compared to the price. in 2011.
At present, in the key pepper provinces, farmers simultaneously harvest the early ripening pepper season of 2012 with a lively atmosphere in the context of high prices of black pepper. However, for processing white pepper, the source of goods is usually taken from the second harvest pepper, mainly from Vinh Linh pepper, around the beginning of the third lunar month.
It is known that since February 10, black pepper futures will be listed on the Singapore Exchange (SMX – Singapore Mercantile Exchange). Sources will be sourced from a bonded warehouse in Vietnam – the largest producer and exporter of pepper in the world.
In addition, pepper contracts on SMX can provide standard prices for this item of the world if the liquidity is good.
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