Pepper prices are high, but traders are not sure they have collected the desired goods because gardeners are still waiting for the price to rise.
This morning on Wednesday, October 12, the price of buckets of pepper in Ba Ria-Vung Tau rose to VND 158,000 / kg, a record high for the price of Vietnamese buckets of pepper, echoing the record high of the morning of September 23 due to traders compete to buy at the price push.
This high level, according to some companies ordering, makes agents and traders are not sure to collect the desired goods. Because of the high price, gardeners and small speculators, even holding about 10,000 tons of goods, also find it hard to let go because they expect higher prices when they become increasingly scarce.
Growers specializing in white pepper production in Ba Ria-Vung Tau also said that they have not produced white pepper for a long time because of the need for high quality black pepper. While even low quality black pepper buckets became scarce and pepper prices White has passed 200,000 VND / kg for several months now.
Ending the session last night, pepper prices term in Kochi-India has 4 continuous growth sessions, total increase of Rs 850 to Rs 36,690 / quintal for October delivery. Similarly, November delivery increased by Rs 985 to Rs 37,540 / quintal, December increased 1,250 lakhs to 38,120 lakhs / quintal. This is also a record high of world pepper prices.
Although the transaction price has set many new records, the actual amount of goods to the floor just dripped. Exporters are also only targeting the source at the warehouse's stockpile to acquire before the stock runs out.
Export price of Indian pepper of special grade MG1 exported to Europe market was USD 8,100 / ton and US market at USD 8,300 / ton (C&F), increasing by USD 200 compared to last week.
Exported black pepper from Vietnam was offered for 500 Gr / l-FAQ at US $ 7,800 / ton and 550 Gr / l-FAQ for US $ 8,250 / ton, down US $ 100 from the previous week. White pepper of grade 630 Gr / l-FAQ costs 11,250 USD / ton, DW 630 Gr / l grade of price 11,550 USD / ton, an increase of 250-300 USD.
While export black pepper has higher quality such as 570 Gr / l = FAQ, 550 Gr / l-Asta, 580 Gr / l-Asta … and white pepper type 650 Gr / l-FAQ or DW 650 Gr type / l higher quality, no offer offered.
In contrast, export prices of other countries decreased due to quality problems. Brazil pepper has an average reduction of 200-300 USD / ton for each type. Similarly, Indonesian pepper also decreased by an average of USD 200 / ton and Sri Lanka pepper decreased slightly, about USD 100-150 / ton.
Many exporters said, by pepper prices The world is at a high level, so the goods in the low-price area have a fast increase in the number of goods sold. However, they also said that the source of goods has become scarce, only when India and Vietnam can harvest the price will be improved.
Many traders also said that the last pepper of India only collected a maximum of 45,000 tons, not as many forecasters about 48,000 tons. The country's domestic consumption figure is also difficult to predict.
The number of contracts ordered from importers has decreased due to tightening supplies when Vietnam and India were at the end of the season and it is difficult for exporters to find goods when prices are as high as current levels.
Due to high prices, Vietnamese farmers have increased the area of pepper cultivation in a way that is difficult to control. In the Central Highlands region alone during this rainy season, a few thousand hectares more have been planted for new planting.
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