Some speculators of agricultural products and garden houses in the country still keep deciding to wait a while longer, listen to the pepper market at the end of the year before selling.
After peaking on September 21, the world price of pepper turned down following the general commodity market. The price of pepper decreased because of exchange rate of Rupee, losing 6.77% against USD in agricultural product market.
Chinese traders resell previously collected goods to Vietnamese enterprises at huge prices.
By the end of the week, world pepper prices had 3 consecutive losing sessions, the October term dropped by a total of Rs 765 to Rs 36,220 / quintal, the November term decreased by a total of Rs 720 to Rs 36,845 / quintal, December term fell by a total of Rs 705 to Rs 37,325 a quintal.
The price of export pepper also decreased in all markets, the level decreased from 100-300 USD / ton depending on, respectively, the European market, the Arab and American blocks. Asian markets had the most lower rates.
Pepper prices increased too hot since the beginning of September due to the impact of real demand, not excluding the contribution of paper speculators in the world futures market pushed prices up to earn short-term interest.
Importers of pepper are now hesitant with the high price, they only buy moderately for demand.
This afternoon, September 26, the price of black pepper in Ba Ria-Vung Tau also returned at 152,000 VND / kg, the market did not record any transactions. Some speculators of agricultural products and garden houses still keep disclosing that they have not sold but will wait a while longer, listen to the pepper market at the end of the year before deciding.
According to traders, they noted an unprecedented phenomenon from the domestic market that Chinese traders who had come to the garden to collect pepper had rented some warehouses in the southern area. to store goods, not to export. Now that the world pepper price opportunity is increasing, these traders sell their products to exporters in our country with high prices. Also not excluded with strong financial resources and available goods, they have contributed greatly to the current situation of pepper price fever.
The major pepper producing countries such as Malaysia, Indonesia, Brazil … this year the output decreased. Although the supply is mainly for domestic consumption but it also takes advantage of bringing the stock of goods to the market due to the high price opportunity to profit margin. Wait until India, Vietnam harvest next crop, lower prices, will gather goods back to reserve.
World pepper prices from now until the end of the year depend on the inventories of Vietnam and India.
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