This afternoon on September 10, the price of black pepper in a bucket in Ba Ria-Vung Tau was bought and picked up by traders for 142,000 VND/kg – unprecedentedly high.
Closing the session on September 9 in Kochi-India, world pepper prices increased by Rs 251, Rs 278 and Rs 164, to Rs 33,264 per quintal, Rs 33,860 per quintal and Rs 34,243 per quintal, equivalent to 7,238 USD/ton, $7,367/ton and $7,450/ton for September, October and November 2011 terms.
This afternoon on September 10, the price of black pepper in a bucket in Ba Ria-Vung Tau was picked up by traders for 142,000 VND/kg – a new record.
In the past 15 days, if the pepper futures price fluctuated insignificantly, the domestic pepper price increased by 5.97%. This shows that the buying demand of our country’s exporters is still quite strong, contributing to the significant growth of domestic prices as well as limiting the decline in world pepper prices.
According to many market observers, the buying demand of Chinese customers has tended to increase sharply recently. However, the quantity of pepper of this buyer is also difficult to statistics because mainly after penetrating the domestic market to collect, the goods are brought to the northern border for export along the border.
With the ASEAN-China Free Trade Agreement (ACFTA), our country’s goods, especially agricultural products, are given all favorable conditions to export to a large consumer market but are not required to import goods. this strict demand and encourage farmers to increase production.
If including the official export figures announced by the Customs sector plus those from Chinese customers since the beginning of the season, the number of pepper exports from Vietnam this year has increased significantly. And it is enough to confirm that the number of inventories in the population and in the warehouses of exporters is not much anymore, helping to increase the trend of world pepper prices towards the end of the year.
The price of Indian black pepper special grade MG1 is being exported to the international market at USD 7,600-7,700/ton (C&F) while Vietnamese black pepper 500 Gr/l-FAQ is priced at USD 6,800/ton and grade 500 Gr/l-Asta is priced at 7,200 USD/ton, (FOB), the price is still maintained at a high level compared to other producing countries.
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