In the afternoon of August 22, the price of pepper at Ba Ria-Vung Tau was pushed up to VND 130,000 / kg, continuously setting a new record.
Benefiting from August 20, the transfer date of August to September term, pepper prices on the trading floor in Kochi-India rebounded sharply. Only in the last two sessions last Saturday and the first Monday of this week, the term of September increased by Rs 1,076, or USD 237, up to Rs 32,930 / quintal, equivalent to USD 7,259 / ton, the new high level since 1996. for the near term.
In the past week, the phenomenon of cheap sale to buy expensive, chasing prices together. A big agent in Chau Duc Ba Ria-Vung Tau said so.
The reason for the high price of pepper is the unbalanced supply and demand of the world pepper. In particular, given the opportunity of rising prices, domestic businesses need goods to boost exports and strong demand during the festive season of Islamic countries.
Some major pepper producing countries also need to import. Statistics of July showed that India imported 1,030 tons of pepper from our country, bringing the total amount of imports from the beginning of the year to 5,287 tons. Similarly, Indonesia also imported 282 tons, bringing the total amount imported from the beginning of the year to 877 tons.
The price of pepper at Ba Ria-Vung Tau market has been more sensitive and vibrant than any other domestic market, often with the leading growth.
Global and domestic pepper markets also promise surprises.
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