The price of black pepper at Ba Ria-Vung Tau fell to VND 140,000 / kg, losing nearly VND 10,000 / kg in just half a week.
Despite benefiting from the monthly term transfer, world pepper prices continue to decline in line with the general trend of many commodities. Over the first two sessions of the week, the terms for delivery in December 2011 and January and February 2012 decreased by Rs 280, 345 and 245 respectively to Rs 34,520 / quintal, Rs 34,660 / quintal and Rs 34,830 / quintal, respectively. equivalent to USD 6,630 / ton, USD 6,656 / ton and USD 6,689 / ton. Spot pepper also decreased to Rs 34,425 a quintal, equivalent to 6,611 USD / ton.
The exchange rate of Rupee lost 4.33% against the USD 1 week ago, making the price on Indian trading floor much cheaper than other major pepper exporting countries and more competitive. So, not only pepper but also prices of other commodities in Indian Rupee also fell sharply. Importers have therefore turned to the source of cheap goods in the country, although it is more than a month away from starting a new crop.
Yesterday 23/11, the price of black pepper in Ba Ria-Vung Tau to 140,000 VND / kg. Prices in other domestic markets of Vietnam are lower than VND 4,000-5,000 / kg. On November 18, the price of pepper in Vung Tau was 149,000 VND / kg.
Vietnamese black pepper for export offered grade 500 Gr / l-FAQ at US $ 7,150 / ton, grade 550 Gr / l at US $ 7,450-7,500 / ton, grade 550 Gr / l-Asta at US $ 7,950-8,000 / ton, FOB . Brazilian black pepper type Bra1 price 7,150 USD / ton, Bra2 price 7100 USD / ton and Bra type ASTA 7200 USD / ton, FOB.
While Indian pepper was offered to the EU market, the special type MG1 was priced at US $ 7,200-7,250 / ton and the US market was higher than US $ 300 / ton, C&F.
Particularly, white pepper was only recorded in a small number of Vietnamese exporters offering 630 Gr / l-FAQ, priced at 10,200-10,400 USD / ton in limited quantities.
The International Pepper Association (IPC) is hosting the 39th annual meeting from November 22-26, 2011 in Indonesia.
Information about forecasts that Vietnam's pepper output will reach 150,000 tons next season is unlikely because in the pepper growing areas, the productivity is seriously reduced due to the weather and many areas are wiped out. Pests spread.
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