Pepper prices in the international market were firm last week, amid tight supplies but customers were waiting for Vietnam to harvest a new crop – expected to be available in the market next month – in the hope that prices would go up. reduction.
Prices of Indian pepper in the international market were currently at US $ 6,400-6,425 / ton (c & f Europe) and $ 6,700-6,725 / ton (c & f US). Vietnam's export black pepper of grade 500 Gr / l-FAQ offered at US $ 5,800 / ton, grade 550 Gr / l-FAQ at US $ 6,150-6,200 / ton, FOB, not much changed compared to before Tet.
However, in Indian market, pepper price fluctuated last week. Supply was low, although the harvest was at the end. Domestic traders have run out of reserves for several weeks after selling sharply at a rising price, and are now on the market to refill their stockpiles. But pepper growers have also run out of goods, after selling out from around 350 rupees / kg.
In January 2012, the price of future pepper on the NCDEX market (India) sometimes touched Rs 380 a kg, while spot prices of pepper increased to Rs 370 a kg.
Currently, futures prices have dropped to around 300 rupees per kg. February contract is now at Rs 29,485 / 100 kg, March contract price is 29,780 rupees, and April price is Rs 30,050 rupee / 100 kg, down 705, 510 and 370 rupees respectively from a week ago.
In Vietnam, farmers in Chau Duc, Ba Ria – Vung Tau began to harvest new crops in 2012. Following the other pepper growing areas in the Southeast, the Central Highlands also began harvesting pepper in Some regions ripen early.
However, contrary to the expectations of international customers, the price of black pepper in Ba Ria – Vung Tau continues to inch up, currently at VND 121,000-122,000 / kg, an increase of about 5,000 compared to a week ago, and about 10% compared to a month ago.
Starting from the 10th of February, the Singapore Exchange (SMX – Singapore Mercantile Exchange) put the first international black pepper contract into the transaction. Sources of pepper traded on the floor will be taken from a bonded warehouse in Vietnam – the world's largest pepper producer with 43% of global production. This will be considered one of the best reference prices for this item.
On the first day of international market, Vietnam's black pepper price reached $ 6,050 / ton, much higher than the average export price of $ 5,637 / ton in 2011, opening a bright prospect for the lake industry. Vietnamese pepper.
Follow SGTimes
Source link
