This morning 20/4, the price of pepper buckets in the Southeast region has returned to the mark of 100,000 VND/kg, compared to 120,000 VND/kg a week ago.
This morning, April 20, the price of pepper for May futures on the world market on the Kochi-India floor continued to decrease by Rs 171 more, down to the level of Rs 26,140 per quintal, equivalent to $5,801 per ton. The domestic price of bucket pepper in the Southeast region has returned to the mark of 100,000 VND/kg.
From April 13 to now, the price of pepper on the world market has continuously decreased by a total of Rs 1,070/quintal, or more than 4%, equivalent to a decrease of USD 237/quintal. But the domestic market fell more sharply, the decrease was up to 20,000 VND/kg, from 120,000 VND/kg set on April 14.
The Vietnam Pepper Association (VPA) has just adjusted its production forecast for this year’s crop, down 10,000 tons from the previous estimate of 90,000 tons.
The World Pepper Association (IPC) expects Indian pepper production this year to be only 48,000 tons, down 2,000 tons compared to the previous crop. Meanwhile, according to Reuters, India’s output this year is estimated to decrease by 15,000 tons, down to 40,000 tons, a sharp decrease.
India also plans to import for processing and re-export about 18,000 tonnes this year.
It is known that Indonesia, the second largest pepper exporter in the world in 2010, production decreased seriously, only one third of last year.
Therefore, in the first half of this year, the world can only rely on pepper from Vietnam and India. It is expected that in 2011, the two countries will account for 70% of the world’s pepper export market share.
According to the CafeF
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