This morning, March 15, the price of pepper at Ba Ria – Vung Tau market traded at 128,000-130,000 VND / kg, other markets lower than 3,000-5,000 VND / kg.
Closing the trading session on March 13, the spot price of pepper on the Indian market, the type of Malabar pepper, was priced at Rs 398 / kg, equivalent to USD 7,978 / ton and the type of pepper valued at Rs 390 / kg, equivalent to Rs. 7,804 USD / ton. While delivery for March delivery price of 41,350 rupees, equivalent to 8,273 USD / ton and April delivery price of 42,215 rupees / quintal, equivalent to 8,446 USD / ton. (1USD = 49.9848 Rupees)
According to traders trading on the floor, the key growing areas in northern India this year “unprecedented crop failure”. Although being harvested, the amount of goods brought to the market is almost negligible, only about 25-30%. And it does not exclude farmers of this country do not want to bring to market. This is the main reason for the current spot price of Indian pepper “seems to have no stops”.
Pepper brokers in the Indian market said that the large amount of pepper is now not in the hands of exporters, traders or farmers as usual, but in the hands of commodity funds. or big speculators. This is a very bad thing for the market.
The supply was tight not only in the country but also the import of many places is also very difficult because the pepper this year is very unfavorable, Indian pepper traders said.
Indian pepper brokers are also pessimistic when their traditional customers will leave this market because they cannot accept the price that is “too high”. Many customers have come to the Singapore market and said that the price here is “still easier”.
The same day on the Singapore floor, term delivery in March is $ 6,373 / ton and April delivery is priced at $ 6,287 / ton. The price difference between the two pepper markets is currently short, but is still very high.
Many European and American importers have left India because the price is too high to come to Singapore with lower prices, so the past few days the trading volume in this market has increased significantly.
Currently, the export price of Indian pepper of special type MG1 is priced at 8,350 USD / ton (C&F) for the European market and 8,650 USD / ton (C&F) for the US market. Vietnam pepper was offered at US $ 7,500-7,550 per tonne (FOB) for 550Gr / l-Asta and Brazil pepper was offered US $ 7,100-7,200 per tonne (FOB) for B-Asta.
This morning, March 15, the price of pepper at Ba Ria – Vung Tau market traded at 128,000-130,000 VND / kg, other domestic markets lower than 3,000-5,000 VND / kg. Although the amount of goods circulated to the market has increased significantly, it is only half compared to the previous year, a trader said.
According to the statistics of Customs, February's export reached 8,227 tons of pepper with a value of 58.3 million USD, up 151.1% in volume and 143.4% in turnover value. with the previous month. In comparison with the same period last year, the quantity increased only by 22% but the value of turnover increased to 73.8%. Average export price of pepper in February reached US $ 6,755 / ton.
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Source TTVN / CafeF
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