In just one week, black pepper price in the world market has increased by 8-9%, while in the domestic market, the price of black pepper has soared to 101,000 VND / kg.
Unfavorable weather in the harvest, Chinese customers actively buying Vietnamese pepper and limited supply from Brazil, Indonesia and India are supporting the price of pepper continues to rise. World pepper market continues to be hot, with prices increasing in most producing countries.
In just one week, black pepper prices on the world market have increased by about 8-9%. Off-season rains in India during the period of October to December 2010 will certainly reduce production this year.
On the Indian domestic market, pepper prices were currently up to $ 3 / kg. The export price of pepper was up to $ 5,375 / ton.
On the buyers side, many customers have psychologically delayed buying. They expect prices to fall when Vietnam is in full swing. But recent prices of Vietnamese pepper have increased.
Currently, the price of pepper in Vietnam surpasses VND 100,000 / kg. Export prices of black pepper increased by 10% to US $ 4,550 / ton (500 g / l) and US $ 4,950 / ton (550 g / l), (FOB).
In Brazil, local prices of black pepper were stable at 7.75 real / kg. In dollar terms, the price increased by 1%, with ASTA increasing from $ 5,250 / ton to $ 5,500 / ton.
The world's total consumption of pepper last year was 320,000 tons, an annual increase of 5% on average. Thus the world's total demand this year will be about 335,000 tons. But world pepper output this year is forecast at 257,000 tons, down 33,700 tons from last year. The number of reserves is 40,000 tons, bringing the total supply this year to 297,000 tons.
Generally, the world still lacks 38,000 tons. The imbalance between supply and demand is the reason why from the beginning of last crop until now, the price of world pepper has grown continuously.
The International Pepper Organization (IPC) expects that India's production this year will be 48,000 tons, down 2,000 tons from the previous crop. Output of Brazil and Indonesia also decreased slightly and the output of China this year remained unchanged. Meanwhile, pepper production of major producing countries, except Vietnam, has decreased dramatically.
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