This afternoon, November 15, the price of black pepper in Ba Ria-Vung Tau was at 146,000 VND/kg, 13% higher than last week, and is trending up rapidly in line with world pepper prices.
At the end of the first session of the week, pepper futures prices had a series of continuous growth. Futures for delivery in November, December and January 2012 totaled Rs 1,715, Rs 1,380 and Rs 1,050, respectively, to Rs 34,370 per quintal, Rs 34,790 per quintal and Rs 35,025 per quintal, equivalent to $7,014 per ton. $7,100/ton and $7,148/ton.
Statistics of the Customs show that the export of pepper in October last year reached 5,963 tons of pepper of all kinds with a turnover of 41.86 million USD. Although down 42.1% in volume and 39.7% in value, the average export price in October still reached 7,140 USD/ton, 280 USD/ton higher than in September.
The United States is still the largest pepper import market with 1,115 tons with a turnover of 8.38 million USD. Followed by traditional pepper markets such as Germany 681 tons with a turnover of 6.32 million USD, the United Arab Emirates 616 tons with a turnover of 3.93 million USD, the Netherlands 428 tons with a value of 3.93 million USD. turnover of 3.37 million USD.…
In particular, within 10 months, there are 3 major producing countries that also imported pepper of all kinds, namely India 6,514 tons with a turnover of 34.9 million USD, Indonesia 1,072 tons with a turnover of 7.7 million USD, Malaysia 665 tons worth 4.1 million USD. In which, India mainly imports for re-export and cheap pepper to supplement domestic consumption.
Three weeks ago, when pepper prices fell rapidly, many gardeners were concerned that prices would fall along with the decline of many agricultural products, even in some farmers, there was a feeling of stagnation and regret. When the new pepper price leveled off and showed signs of improvement, it immediately led to the discharge of goods.
Traders said that the amount of goods released in the past 2 weeks is quite large, which can be considered as the last stock of gardeners. Only gardeners sell due to fear of falling prices, so profits are not as expected.
Traders also said that the amount of goods released recently went to the warehouses of export trading companies insignificant, mainly in the warehouses of large agents and large speculators of agricultural products.
Recently, there are some forecasts that Vietnam’s next crop will not be as good as the last crop because the disease is still raging in the main pepper growing areas and the weather is unusual, so the yield will not be high.
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