Only in this week, prices of domestic pepper increased on average VND 5,000-6,000 to VND 125,000 / kg, a fairly rapid increase. Domestic pepper prices are expected to continue to rise.
This morning 20/4, the price of black pepper in the country simultaneously increased in all markets. Specifically, in Ba Ria – Vung Tau cost 125 thousand VND / kg, in Binh Phuoc 123 thousand VND / kg, in Dak Lak – Dak Nong and Gia Lai 121-122 thousand VND / kg. Forecast of domestic pepper price will continue to increase slowly.
While on April 17, SMX-Singapore pepper futures prices for April delivery ceased trading at 6,270 USD / ton, and May delivery futures closed at 6,379 USD / ton, the main price trend. across.
Spot price of Indian pepper yesterday closed at 36,600 rupees / quintal, equivalent to 7100 USD / ton for the type of bucket and Rs 38,100 / quintal, equivalent to 7.391 USD / ton for MG1 selected. Forecast of Indian pepper price will continue to fall.
Recently, world futures market in India fluctuated in a fast downtrend. According to traders trading on the floor, the futures price of some speculative goods pushed up so high that the Indian Futures Committee had to consider and question the existence of some exchanges. Translation, including pepper floor. This move caused investors to withdraw and the price of Indian pepper futures dropped rapidly almost panicked.
However, the anxiety of investors has passed, and the price of pepper futures has leveled off, helping both domestic and export pepper prices to recover according to supply and demand factors of the world market. Only in this week, prices of domestic pepper increased by an average of 5,000-6,000 VND / kg, a fairly rapid increase. This makes pepper growers excited, expect the price this year as the previous year because supply and demand of the world pepper has not improved.
According to Customs data, the export in March reached 18,779 tons of pepper of all kinds, with a turnover of US $ 128.1 million, up 119% in volume and 120.9% in value over the previous month. In the first 3 months of the year, export reached 30,790 tons of pepper with a value of 201 million USD, up 18.3% in volume and sharply increased 65% in price over the same period last year.
India remained in the top 5 major import markets of Vietnam with 1,848 tons of pepper in March, bringing the total import of the first quarter to 2,328 tons.
Special Indian MG1 pepper on the international market is USD 7,450-7,500 / tonne (C&F) to Europe and USD 7,750-7,800 / tonne (C&F) to the US, unchanged.
Vietnam's black pepper for export grade of 500 Gr / l-FAQ was priced at USD 6,150-6,200 per tonne (FOB) and 550 Gr / l-FAQ grade was offered at USD 6,500-6,550 per tonne (FOB), up slightly.
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Source TTVN / CafeF
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