The quantity of pepper in the market is dripping, so traders are not interested in buying because of the high cost of circulation and the profits are not enough to offset.
This morning, 9/12, the price of black pepper in Ba Ria-Vung Tau fell to 136,000 VND / kg, equivalent to 1,000 VND / day within 1 week.
Price of pepper futures in Kochi-India, at the end of the session, decreased by Rs 32, standing at Rs 34,892 / quintal for spot pepper and December delivery increased by Rs 60 to Rs 35,485 / quintal, regaining somewhat for the previous plummeting session.
According to analysts on the floor, from the trading session on 11/23 up to now, the price of pepper futures began to heat up when the volume of goods from the world's No. 1 pepper producing country decreased rapidly. So close forward contracts, pushed higher against the norm, are the focus of attention.
The quantity of pepper to the market is very small, so traders are not interested in buying because the circulation costs are quite high, the profit is not enough to offset while the import demand of the company is not available.
A company exporting pepper in Ho Chi Minh City said that they are ready to have enough goods to hand over new contracts according to customers' needs from here to the beginning. At the same time, the export price of low quality pepper decreased slightly by US $ 125-250 per ton depending on the price, one week ago.
Export grade of black pepper of grade 500 Gr / l-FAQ cost 6,850 USD / ton, grade 550 Gr / l-FAQ price of 7,150 USD / ton and white pepper of FAQ type cost 9,750 USD / ton, while DW type price of 9,950 USD / ton but very limited, (FOB).
MG1 Indian black pepper of special grade exported to EU cost 7,350 USD / ton and to USA at 7,650 USD / ton, (C&F), unchanged, remained very competitive price.
Types of pepper according to ASTA standards of producing countries have remained unchanged.
The market is lacking of purchasing power of importers, the psychology of relaxation begins to appear as the Christmas and New Year holidays come closer.
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