US customers pushed up buying prices in the world, pulling the export price of our country’s pepper by US$200-300/ton this week.
At the end of the trading session on June 24, the price of pepper futures on the Kochi-India exchange once again surpassed the record of Rs 30,000 per quintal, causing the domestic price of pepper to jump back to the level of 110,000 dong/kg. This is a price increase completely beyond the forecast of the world pepper market analysts.
Surprisingly, customers from the US increased their purchases, pushing prices up sharply. The most significant ones are those that meet the standards of the American Spice Association (ASTA). The price of Indian black pepper special grade MG1 increased from 6,800 USD/ton to 7,000 USD/ton.
At the same time, Vietnam’s export black pepper grade 500 Gr/l-Asta priced at USD 5,900/ton, grade 550 Gr/l-Asta priced at USD 6,300/ton, grade 580 Gr/l-Asta priced at USD 6,700/ton and black pepper for export. white grade DW 630 Gr/l priced at $8,100/ton (FOB), an increase of $200-300/ton.
According to customs statistics, in May our country exported 13,102 tons of pepper of all kinds, reaching a turnover of 76,391 million USD, down 13.9% in volume and 8.6% in turnover compared to that of the previous year. last month.
Accumulated in the first 5 months of the year, 54,480 tons of pepper of all kinds were exported, reaching a turnover of 287.95 million USD, though down 8.6% in volume but up 55.9% in value over the same period last year. The pepper industry has achieved 38.9% of the year plan.
There are many information that, world pepper is entering a price reduction cycle in the coming 2 July and August, corresponding to the time when Indonesia and Brazil harvest the main crop, while Malaysia is in the middle of the crop. helping to improve the world supply of pepper in thirst. However, the output of these countries is also not satisfactory.
According to the forecast of the International Pepper Association (IPC), this year the world’s pepper production will decrease, of which Brazil and Indonesia will decline the most.
IPC said that Indonesia only reached 37,000 tons, down 15,000 tons, Brazil only reached 34,000 tons, down 6,700 tons while Malaysia only reached 25,000 tons, a slight decrease.
It is predicted that this increase in export pepper prices will only take place in the short term.
Follow CafeF
Source link
