Head office of Indian original business
According to the order of the company, traders in the Southeast region are looking for low-grade black pepper, especially from growers who cultivate the same kind of Se pepper and Indian origin.
Pepper prices remained firm at a high level
Closing the weekend session on the NCDEX pepper trading floor in Kochi-India, the price of closed-term pepper at the week closed at Rs 42,610 / quintal, equivalent to USD 7,677 / ton for September delivery and at Rs 43,035 / quintal. , equivalent to US $ 7,753 / ton for October delivery, fluctuating insignificantly compared to the previous week. (1 USD = 55.5042 Rupees)
Spot prices of Indian pepper in tandem with the futures market increased by Rs 400 from the previous week, to Rs 39,600 a quintal, equivalent to US $ 7,135 per tonne for pepper and Rs 41,100 a quintal, or US $ 7,405. / ton for selected pepper, an increase of approximately 1% in the same period. Prices increased because spot goods were now very rare to offer
Indian parity in the international market is priced at USD 8,100 / ton (C&F) for goods destined for Europe and 8,400 USD / ton (C&F) for goods destined for the US, still quite high compared to the price of pepper of the source. Other origin. The increase is also due to the increase of the exchange rate against the USD.
Meanwhile, the price of pepper futures on Singapore Mercantile Exchange (SMX) closed the week sharply increased. September delivery stood at USD 6,533 / ton and October delivery stood at USD 6,586 / ton, up 1.27% and 2.12%, respectively, compared to the previous week.
It is known that the volume of exports for India and Malysia is still negligible, so buyers come to other pepper producing countries in Southeast Asia. Because Indonesia has just harvested with higher output than expected and pepper is being offered by its export traders at cheap prices, while Vietnamese farmers still have ample stock waiting for prices.
Lightly absorbed pepper
Entering in September, the domestic pepper market in Vietnam began to be active again when continually having European and Middle Eastern customers coming to find the source. However, because the world economy is in a difficult period, consumers also need to “tighten their belts” so buyers only pay attention to low-cost sources, an export company said.
Currently, Vietnam's black pepper for export grade 550 Gr / l-FAQ is being offered at USD 6,900 / ton while the grade of 500 Gr / l-FAQ is offered at USD 6,700 / ton. Normally, the gap between export prices between these two types ranges from US $ 300-350 / ton.
According to the order of the company, traders in the Southeast region are actively seeking to buy low-grade black pepper, especially from the growers who cultivate the seed of Se and the Indian pepper. To attract customers, they are willing to pay this type of light pepper at 2-3,000 VND / kg higher than the beginning. It is also the sharing of profits between the trader and the producer, according to a pepper entrepreneur.
From a processing workshop for white pepper in Dong Nai, one processor said that the output of white pepper for export is often sold mainly to European-American customers with high prices, but this year, prices have to be lowered continuously, many factories stop trading. production for purchasing power is only 50-60% compared to the same period last year. Processors hope demand will increase again as import companies prepare goods for the upcoming holiday season.
Today Monday 17/9, the price of black pepper in Ba Ria – Vung Tau stood at 135 thousand VND / kg, in Dong Nai – Binh Phuoc 132-133 thousand VND / kg and the Central Highlands provinces 130-131,000 VND / kg, slightly increased by 1-2 thousand VND / kg compared to the previous week.
A latest market forecast said that the estimated production of producing countries like Brazil is about 22,000 tons, Indonesia about 20,000 tons and Vietnam about 30,000 tons, while India and Sri Lanka have no surplus to export.
Follow The Hindu Business Line, India's pepper exports from January to July 2012 increased by 11.36%, to 11,505 tons compared to the same period last year and the country's pepper imports also increased by 14.15% to 8,834 tons. over the same period.
Source English (TTVN / CafeF)
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