At noon today, Thursday, October 4, domestic pepper price increased by 1,000 VND / kg, following the market of Binh Phuoc which increased earlier yesterday afternoon.
Thus, the price of black pepper in the Ba Ria – Vung Tau market is currently at 54,000 VND / kg, in Binh Phuoc and Dak Lak to 53,000 VND / kg, while in Gia Lai it is at the lowest level of 52,000 VND / kg. after more than a week, prices tend to go sideways.
According to agents and companies supplying pepper to exporters, the slight increase in pepper prices was due to spot demand for importers under signed contracts, while exporters with foreign capital in the South were looking forward to new crop pepper from Brazil and Indonesia on their way home. It is expected that this source of goods is capable of dragging down domestic pepper prices.
Price of white pepper delivered at the gate of processing factories in Dong Nai and Ba Ria – Vung Tau also increased by 1,000 VND / kg, to 77,000 – 78,000 VND / kg, but the demand was not as high as in previous years.
According to market news, the current supply of Indonesian pepper is not much due to the lesson of storing pepper last year, so this year’s crop farmers can sell immediately to wherever they go. Another problem is that due to the sharp drop in the Rupiah exchange rate, domestic companies do not dare to store. An Indonesian export trader said that maybe this is an opportunity for Vietnamese pepper to dominate the market, while the Indian supply also begins to show signs of tension.
Yesterday on October 3, spot black pepper prices in Kerala also increased by 500 rupees, to 33,000 rupees / quintal (equivalent to 4,519 USD / ton), an increase of more than 56 USD / ton from the previous week.
In contrast, on the NCDEX – Kochi commodity floor, October pepper futures prices fell by Rs 335, down to Rs 40,145 / quintal (equivalent to $ 5,497 / ton) and November futures dropped 345 rupees to 40,420 rupees / quintal (equivalent to 5,535 USD / ton), the price decreased approximately 45 USD / ton compared with a week ago. The reason for the decline is also attributed to the record low drop in the Rupee rate.
According to the English (Young Intellectual / CafeF)
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