Farmers only supply products to the market when they are in need of money. Most of them still keep their goods waiting for better prices because most of them think that world prices are still high compared to domestic prices.
Pepper prices in the world futures market continued to be hot and were currently at Rs 29,203, Rs 29,624 and Rs 29,948 a quintal of US $ 6,497, US $ 6,590 and US $ 6,663 per ton for August, September and October terms.
This morning, on August 3, the price of pepper at Ba Ria-Vung Tau stood at 113,000 VND / kg, elsewhere lower than 2,000-3,000 VND / kg, maintaining prices throughout the week in the sign of momentum.
The price of Vietnamese pepper did not decrease, proving that the supply was no longer plentiful and paper products could not overwhelm real goods when the supply did not meet demand.
The market is concerned because buyers have been on the summer vacation, so the number of spot delivery transactions decreased. But export demand still keeps high prices amid less supply from major suppliers.
Vietnamese pepper farmers only supply their products to the market when they are in need of money. Most of them still keep their goods waiting for better prices because most of them think that world prices are still high compared to domestic prices.
Export pepper price last week was almost unchanged. Black pepper grade 500 Gr / l-FAQ is priced at USD 5,600 / ton and 550 gr / l-FAQ grade is priced at USD 5,950 / ton, while Asta pepper is priced at USD 300-350 / ton (FOB).
Brazil-ASTA export black pepper is offered at US $ 6,400-6,450 / ton while Bra2 is priced at US $ 6,100 / ton and Bra1 is higher than US $ 100 / ton (FOB).
While Indian pepper MG1 remained firm at USD 6,700 / ton (C&F).
According to the report of Agriculture, export price of pepper in the first 6 months reached an average of 5,393 USD / ton, up 72.3% compared to the same period last year. Estimated export in July reached 15 thousand tons of pepper of all kinds with an average of USD 6,000 / ton, a very high level expected.
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