This afternoon, December 5, the price of black pepper at Ba Ria-Vung Tau returned to repeat the milestone of VND 140,000 / kg
In the last two trading sessions of last week on Kochi-India, the world pepper price decreased sharply. The terms delivered in December / 2011 and January / February / 2012 lost respectively Rs 355, Rs 410 and Rs 305 to Rs 35,110 / quintal, Rs 34,880 / quintal and Rs 34,765 / quintal, equivalent to USD 6,726 / ton, 6,682 USD / ton and 6,660 USD / ton.
Spot pepper also lost Rs 361 to Rs 34,763 a quintal, still very high.
This afternoon, December 5, the price of black pepper in Ba Ria-Vung Tau returned to the milestone of VND 140,000 / kg following the downward trend of the world trading floor.
Many traders commented that this price made the domestic pepper market even more silent, partly because the supply of pepper among the people was exhausted, the speculators' hands were not sold at low prices.
During the whole week, the most buyers only bought more than 1 quintal thanks to the acquaintance, while many people could not buy any seeds, another trader said.
According to the writer's observation, about 10 days now no longer see import agents, some agents have closed for a temporary break, the rest shifted to buy coffee according to orders of speculators on a seasonal basis.
According to the International Pepper Association (IPC), Vietnam's pepper crop in 2012 will reach 140,000-150,000 tons of pepper of all kinds, continuing to hold the position of the world's No. 1 pepper exporter.
Currently, world importers of pepper are waiting for the new crop of Vietnam to market in February next year. While at the end of December, a new Indian crop was launched, but the quantity was not sufficient to reduce supply pressure.
Traders said that Vietnam's inventory is about 5,000-10,000 tons of pepper. This number will be launched on the occasion of New Year's Day if the price is even more reasonable.
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