The price of domestic bucket pepper in just 1 week also dropped from 114,000 VND/kg to 107,000 VND/kg.
While the World Pepper Association (IPC) commented: “Export pepper prices in India remained stable and increased by 3%”.
At the beginning of last week, Vietnam’s export black pepper grade 500 Gr/l FAQ was being offered at $5,950/ton and the 550 Gr/l FAQ grade was offered at $6,350/ton. By the middle of the week the price dropped to USD 5,750/ton for 500 Gr/l FAQ grade and down to USD 6,100/ton for 550 Gr/l FAQ grade.
Even more surprising was that at the beginning of this week, the export asking price of the 500 Gr/l FAQ grade was $5,450/ton and the 550 Gr/l grade was $5,770/ton. In just 1 week, the average export price of Vietnam’s pepper decreased by 500 USD/ton for all types, the reduction was surprising.
The price of domestic bucket pepper in just 1 week also dropped from 114,000 VND/kg to 107,000 VND/kg.
Up to today, it can be confirmed that our country’s 2011 pepper crop has been completed. Some key areas such as Chu Se-Gia Lai, Cu Kuin-Dak Lak or Gia Kiem-Dong Nai… lost their crops locally due to pests and diseases, but in general, the country’s output was estimated at 110,000 tons as expected. , an average of 22.6 quintals/ha.
The end of the season has contributed to affirm that Vietnam is accounting for 30% of the world’s pepper production and will continue to occupy the No. 1 position in the world’s pepper exports for many more years. With that position, it is difficult to explain why the world’s pepper demand is increasing, the supply is not enough, but the price of Vietnamese pepper is increasingly falling downhill.
At the same time, on the mass media appeared articles such as: “Vietnam pepper industry makes miracles”, “Vietnamese farmers decide the world pepper price”, “Vietnamese farmers regulate the price of pepper in the world”. market price”, “Export of pepper has reached the page”…
According to subjective assessment, Vietnamese pepper exporters have not focused on deep processing to increase added value, but only through preliminary processing. Moreover, because the classification of Vietnamese pepper is still at a very low standard compared to the general classification of the World Pepper Association.
Therefore, what makes people interested is that the price of Vietnamese pepper, both export and domestic, will last until the decline.
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