Domestic prices of buckets of pepper in just one week also decreased from VND 114,000 / kg to VND 107,000 / kg.
While the World Pepper Association (IPC) said: “Export prices in India remain stable and increase by 3%.”
At the beginning of last week, Vietnam's export price of black pepper grade of 500 Gr / l FAQ was offered at US $ 5,950 / ton and 550 Gr / l type FAQ offered at US $ 6,350 / ton. By the middle of the week, the price was reduced to US $ 5,750 / ton for the 500 Gr / l FAQ and reduced to US $ 6,100 / ton for the 550 Gr / l FAQ.
More surprisingly, through the beginning of this week, the export offer price of the 500 Gr / l type FAQ was US $ 5,450 / ton and the 550 Gr / l type was US $ 5,770 / ton. Calculated that within just a week, the average export price of Vietnamese pepper decreased by US $ 500 / ton for all types, the reduction was unexpected.
Domestic prices of buckets of pepper in just one week also decreased from VND 114,000 / kg to VND 107,000 / kg.
To this day, it can be confirmed that our 2011 pepper crop has been completed. Some key areas such as Chu Se-Gia Lai, Cu Kuin-Dak Lak or Gia Kiem-Dong Nai … lost local crops due to pests and diseases but overall the country's output is estimated at 110,000 tons as expected. , an average of 22,6 quintals / ha.
The end of the crop has contributed to affirming that Vietnam is accounting for 30% of the world's pepper production and continues to occupy the No. 1 position in the world's pepper exports for many more years. With that position, it is very difficult to explain why the world demand for pepper is increasing, the supply is not enough but the price of Vietnamese pepper is declining gradually.
At the same time, on the media, there were articles such as: “Vietnam's pepper industry made a miracle”, “Vietnamese farmers decide world prices”, “Vietnamese farmers regulate.” Market price ”,“ Export of pepper has turned to page ”…
According to subjective judgment, Vietnamese pepper exporters have not focused on in-depth processing to raise added value but have just gone through preliminary processing. Moreover, due to the way the Vietnamese pepper is classified, the standard is too low compared to the general classification level of the World Pepper Association.
Therefore, what makes people interested is that the price of Vietnamese pepper, both export prices and domestic prices, until the end of the decline.
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