According to international traders, in the past 10 days, the price of black pepper in some countries has increased by more than 3% and white pepper by more than 5%, mainly due to winter demand and New Year’s Eve.
Following the same uptrend, yesterday Monday, October 29, the price of black pepper bucket in Ba Ria – Vung Tau market has increased to 61,000 VND/kg, the remaining markets fluctuate between 59,000 – 60,000 VND/kg, in Gia Lai market it is always the lowest at 58,000 VND/kg. /kg. The price difference between local markets is mainly due to the cost of circulation.
Looking back at the price of pepper in the domestic market in Vietnam, the price of black pepper on October 18 fluctuated between 54,000 – 57,000 VND/kg depending on the local market, today it has increased to 58,000 – 61,000 VND/kg, which is an increase more than 7% (read the article again “Export demand continues to drive up pepper prices”) higher than the world average. Meanwhile, the price of white pepper also increased and fluctuated at 85,000 – 86,000 VND/kg, an increase of about 4%, a disproportionate increase.
On the NCDEX commodity exchange in Kochi, India, the price of pepper for November term ended last week’s session increased by 420 rupees to 40,690 rupees per quintal (equivalent to 5,546 USD per ton), while December futures were temporarily suspended. because of lack of customers.
Bucket price of black pepper in Kanjangadu region in Kerala state increased by Rs 500 to Rs 32,500/quintal (equivalent to USD 4,429/ton) but the supply is also meager, as local traders also do not want to sell because the rupee is depreciating.
According to trade data, Vietnam’s export black pepper is currently asking for 2,635 USD/ton for 500 Gr/l grade and 2,785 USD/ton for 550 Gr/l grade, while white pepper is asking for 3,880 USD/ton. , an increase of 60-80 USD compared to the previous week.
According to domestic traders, the domestic black pepper price has increased higher than the world average due to the phenomenon of compensating exporters. While the expected source of imports from Brazil and Indonesia has not yet arrived.
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