Vietnamese black pepper prices of Vietnam were still slightly higher than Indonesian ones and this encouraged a considerable amount of new pepper from Indonesia to import to Vietnam.
Read more: >> Indonesia – Vietnam “shook hands” to stabilize the pepper market
>> Domestic pepper prices continued to decline because of imported pepper
Indonesian farmers are harvesting a new pepper crop (photo: Anh Van)
Today Thursday, August 2, prices of black pepper in raw material areas in the country adjusted to decrease by 1,000 VND / kg. Specifically, the price of black pepper in Ba Ria – Vung Tau stood at 52,000 VND / kg, the rest of the provinces fluctuated in the range of 50,000 – 51,000 VND / kg. Generally, the price of black pepper has decreased by 3,000 VND / kg, which is down to 5.45% compared to the first day of July 2018.
The reason for the decline in pepper prices is attributed to the lower asking prices for export. According to the pepper industry data, within the past month, the export price of Vietnamese black pepper for grade 550 G / l dropped by 150 USD to stand at 2,600 USD / ton and the export price for black pepper for export of grade 500 G / l also fell 150 USD to stand at 2,450 USD / ton (FOB – HCM price).
Meanwhile, export price of ASTA black pepper from Indonesia also dropped by 150 USD to stand at 3,000 USD / ton (FOB – Lampung price) and FAQ price dropped to 2,415 – 2,420 USD / ton (FOB).
According to traders, the price of Vietnamese black pepper was still slightly higher than that of Indonesia and this encouraged a considerable amount of new Indonesian pepper to be imported to Vietnam.
According to the weekly report of the International Pepper Community (IPC), in 2017, Indonesia exported a total of 42,700 tons of pepper of all kinds and accounted for 40% of which, or nearly 16,500 tons of pepper were exported to Vietnam. .
According to the IPC, this year’s pepper crop has been harvested for almost a month in Indonesia and Malaysia while it is almost completed in Sri Lanka, with the forecast not being as good as last year’s crop. The cause of the drop in output was due to the sharp drop in world pepper prices, which made farmers in many pepper growing countries not interested in taking care of them. There has even been a commercial report stating that some of the pepper cultivated area has been converted to other crops. Particularly in Indonesia, pepper farmers in Bangka and Belitung let the grass cover the whole garden without care, including harvesting. If pepper prices drop for a long time, the output will surely decrease significantly and people here will no longer be salty, but with this pungent flavored bean.
Market sources said that a considerable amount of new pepper from Indonesia will be imported to Vietnam at this time. However, observers believe that there is no exclusion, including the previous season pepper which was speculated on the spot according to the high-level meeting between “Vietnam – Indonesia shake hands to stabilize the pepper market” in August last year.
Meanwhile, Brazil will harvest this year’s pepper crop around September – October, following the harvest of Indonesia and Malaysia. For many months, Brazil has not had any pepper delivered to the ship because the stock has been exhausted and farmers here are still not used to storing pepper. But this year’s pepper crop has been contracted by them to sell a significant amount of forwarding to familiar customers in North America and the EU.
However, the volume of pepper exported from our country to be delivered to the ship is quite stable and Vietnam remains the leading exporter of pepper in the world.
According to the forecasts of Vietnam’s Agriculture and Rural Development sector, the volume of pepper exported in July 2018 is estimated at 21 thousand tons, with a value of $ 64 million, bringing the pepper export volume in the first 7 months of 2018 to an estimate of 153 thousand tons and 517 million USD, up 3.7% in volume but down 36.1% in value over the same period in 2017. Average export price in the first 6 months of 2018 reached 3,430 USD / ton, down 39.4% compared to the same period in 2017. The largest pepper export markets of Vietnam in the first 6 months of 2018 were the United States, India, Pakistan and Germany with 37.1% market share.
According to the English (Young Intellectual / CafeF)
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