India, the world's No. 2 producer and exporter of pepper, has been on the list of the top 5 major import markets for our pepper.
After a sharp decline last week, the world pepper market had two remarkable trading sessions at the beginning of the week. The terms delivered in December 2011 and January / February 2012 increased by Rs 265, Rs 115 and Rs 95 to reach Rs 35,115 a quintal, Rs 34,910 a quintal and Rs 34,915 a quintal, equivalent to US $ 6,727 / ton. , USD 6,688 / ton and USD 6,689 / ton.
Spot pepper prices also increased to Rs 34,617 a quintal, an increase of about 30 USD / ton compared to the previous week.
This morning 1/12, the price of black pepper in Ba Ria-Vung Tau market to 144,000 VND / kg, up 4,000 VND / kg compared to the lowest price of the previous week. Other domestic markets are lower than VND 5,000-7,000 / kg.
Developments in Kochi-India futures market throughout the week showed that transactions were mainly close to the monthly contract, so the matching price of December increased more than the remaining months. This is a measure to entice goods to participate in the market to meet increased demand at the end of the year for investors.
The latest report of the Customs industry shows that in the first half of November, our country exported only 1,975 tons of pepper of all kinds with a turnover of 14.66 million USD. Accumulated from the beginning of the year to November 15, Vietnam exported 117,854 tons of pepper of all kinds with a turnover of US $ 687.2 million, although it increased only 9.17% in volume but increased to 81.88% in metal value. compared with the same period last year.
The average export price of pepper in the first half of November reached US $ 7,423 / ton, up US $ 284 / ton compared to the average price of pepper exported in October. The higher average price reflects the world supply of pepper in general. and our country in particular is increasingly exhausted and asserted that world pepper prices will increase at the end of the year as forecasted.
India, the world's No. 2 producer and exporter of pepper, has been on the list of the top 5 major import markets for our pepper. This confirms that Vietnam is the world's No. 1 pepper exporter.
The 39th annual meeting of the International Pepper Association (IPC), which is currently taking place in Indonesia, has brought the issue of fast-dying disease to slow down, eliminating many pepper growing areas in the world on the agenda.
The forecast of December export prices will continue to grow due to higher demand for the wedding season, Christmas and New Year holidays.
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