Currently, the main pepper growing areas have entered the new crop, especially in the regions where Indian pepper is grown early, while domestic pepper prices are at the highest level since the beginning of the season.
Closing the weekend session, on 22/12, world pepper futures prices on NCDEX-India turned up slightly. February delivery increased by Rs 170 to Rs 34,975 per quintal (equivalent to USD 6,351 per tonne) and March delivery increased by Rs 40 to Rs 34,535 per quintal (USD 6,271 per tonne). (1 USD = Rs 55,0700)
Reportedly, the peak price of the futures market at Rs 44,605 / quintal set on July 29, 2012, the price that most major pepper producing countries in the world are considered extremely non-standard. physical.
Spot prices in India were in tandem with the trend of the futures market to drop Rs 400 to Rs 36,800 a quintal (US $ 6,682 per ton) for pint and VND 38,300 a quintal (US $ 6,955 a ton). ) select type.
In the international market, Indian MG1 pepper is priced at US $ 7,300 per tonne (C&F) for European deliveries and US $ 7,600 per tonne (C&F) for US shipments, down US $ 100 from the previous week.
The unreasonable gap between the export price of Indian black pepper and the price of black pepper of other producing countries continues to be shortened from over 2,000 USD / ton to nearly 1,000 USD / ton.
The Indian futures market was hit by a speculative group, which holds more than 5,000 tonnes worth Rs 18 million, refused to accept the goods, saying they were not up to food standards. due to the use of mineral oil for preservation and filed a complaint. The Commission on Futures Markets (FMC) and the State Standards Agency (FSSAI) have ordered the blockade of six warehouses managed by NCDEX to investigate.
Although previously the International Pepper Community (IPC), an intergovernmental organization of pepper producing countries, finalized Indian pepper output in 2013 at 55,000 tons. This figure is nearly 30% higher than the 2012 crop. But traders on the exchange predict output may reach 60,000-65,000 tons and speculators continue to push up prices up futures prices up. high to earn profits despite the objections of the export business. Therefore, in recent months, Indian export prices have lost their competitiveness in the international market.
Traders believe that this is a plan to delay the soldiers to avoid the losses that they are likely to suffer after pepper prices have dropped sharply in recent weeks.
Currently our country has begun to step in to harvest new crops. According to many gardeners in the Southeast region, early ripening pepper is of Indian origin, accounting for 15-20% of the area. Early ripe pepper has low weight, which is not favored by white pepper processors. Many growers also want to replace new varieties, but they still regret that the domestic price of pepper is still high. The remaining areas planted other pepper varieties and in the Central Highlands will conduct mass harvest from the beginning of January 1/2013.
This morning, December 25, the price of black pepper in the Central Highlands dropped slightly to 116-117 thousand VND / kg, in the Southeast 120-121 thousand VND / kg, particularly in Ba Ria – Vung Tau priced at 122- 123 thousand dong / kg remained competitive price in the domestic pepper market.
According to Customs statistics, November's export reached 7,967 tons of pepper of all kinds with a value of US $ 53.5 million, down 13.4% in volume and 10.2% in price compared to October. In the first 11 months, the country exported 110,588 tons of pepper with a value of 751.15 million USD, although it decreased by 8.2% in volume but increased by 6.3% in price over the same period last year. The average export price in November reached US $ 6,719 / ton, up 3.66% compared to the average export price of October.
Source English (TTVN / CafeF)
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