Based on this year's crop, it can be affirmed that the price increase cycle can last until April, 5 years after Vietnam enters the new harvest.
This afternoon, September 14, the price of pepper at Ba Ria-Vung Tau market set a new record of VND 145,000 / kg, while in other provinces the market was lower than the average of VND 5,000 / kg.
Within the past 1 month, the price of domestic pepper increased by 18.03%. The increase is so strong that some pepper farmers have become agricultural speculators.
Yesterday, the world pepper price on Kochi-India futures market moved in the opposite direction. The term near September dropped by Rs 51 while the far period October and November increased by Rs 69 and Rs 25. At the close, pepper prices stood at Rs 33,657 a quintal, Rs 34,570 a quintal and Rs 34,984 a quintal, equivalent to US $ 7,323 / ton, US $ 7,522 / ton and US $ 7,612 / ton for the September, October and 11.
Evolution of the world pepper market through recent sessions shows that this is only a corrective session. At the same time, it is forecasted that the term pepper price is still in the trend of continuing to grow in an unpredictable trend in the short term but increasing as the year end.
Although in July and August there were many articles predicting a decrease in pepper prices during the Muslim fasting month based on the past market movements. But because the world's reserves are getting lower and lower, the demand is increasing while the major pepper producing countries have just had another failed crop so the world price of pepper continues to rise. .
Since Vietnam replaced India to hold the No. 1 export position in the world, after the Muslim fasting month, the world pepper price cycle has increased. Based on this year's crop, it can be affirmed that the price increase cycle can last until April, 5 years after Vietnam enters the new harvest.
The export price of Vietnamese pepper also increased to a new level, black pepper grade of 500Gr / l-FAQ was priced at US $ 7,000 / ton and 550 Gr / l-FAQ grade at US $ 7,400 / ton, white pepper grade 630 Gr / l-FAQ price 9,500 USD / ton and DW 630 Gr / l type price 9,800 USD / ton, up 100-150 USD / ton.
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