US customers pushed up buying prices in the world, bringing export prices of our country an additional US $ 200-300 / tonne this week.
At the end of the session on June 24, the price of Kochi-India futures pepper once again surpassed the record of Rs 30,000 / quintal, bringing the domestic price of pepper to soar again to VND 110,000 / kg. This is a price increase completely beyond the forecast of world pepper market analysts.
Surprisingly, customers from the US increased their buying and pushed prices up sharply. The most notable are those that meet the criteria of the American Spice Association (ASTA). Price of Indian black pepper of special grade MG1 increased from US $ 6,800 / ton to US $ 7,000 / ton.
At the same time, Vietnam's export black pepper of grade 500 Gr / l-Asta price USD 5,900 / ton grade 550 Gr / l-Asta price USD 6,300 / ton, type 580 Gr / l-Asta price USD 6,700 / ton and pepper. white type DW 630 Gr / l is priced at USD 8,100 / tonne (FOB), increasing by USD 200-300 / ton.
According to statistics of the Customs, in May our country exported 13,102 tons of pepper of all kinds, reaching a turnover of US $ 76.391 million, down 13.9% in volume and 8.6% in turnover compared to last month.
In the first 5 months of the year, 54,480 tons of pepper were exported, reaching a turnover of US $ 287.95 million, although down 8.6% in volume but up 55.9% in value over the same period last year. The pepper industry has achieved 38.9% of the year plan.
It is widely reported that world pepper prices are entering a downward cycle in the upcoming July and August, corresponding to the period Indonesia and Brazil harvest the main crop, while Malaysia is in the middle of the season. Help improve the world supply of pepper in thirst. However, the output of these countries is not satisfactory.
According to forecasts of the International Pepper Association (IPC), this year the world's pepper output will decline, of which Brazil and Indonesia will decline the most.
IPC said that Indonesia only reached 37,000 tons, down 15,000 tons, Brazil only reached 34,000 tons, down 6,700 tons while Malaysia only reached 25,000 tons, down slightly.
It is predicted that this export pepper price increase will only take place in the short term.
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