Pepper prices in the international market have been steady in the past week, amid tight supply but customers are waiting for Vietnam to harvest a new crop – which is expected to be available on the market next month – in the hope that the price will increase. reduce.
Indian pepper prices in the international market are currently at $6,400-6,425/ton (European c&f) and $6,700-6,725/ton (US c&f). Vietnam’s export black pepper grade 500 Gr/l-FAQ offered at $5,800/ton, grade 550 Gr/l-FAQ priced at $6,150-6,200/ton, FOB, unchanged from before Tet.
However, in the Indian market, pepper prices last week fluctuated strongly. The supply to the market is low, despite the end of the harvest season. Domestic traders have run out of stock for a few weeks now after selling strongly in the wake of rising prices, and are on the market to refill their stocks. But pepper growers have also run out of stock, after selling out since the price is about 350 rupees/kg.
In January 2012, the price of pepper futures on the NCDEX market (India) sometimes touched Rs 380/kg, the spot price of pepper also increased to Rs 370/kg.
Currently, the futures price has dropped to only about 300 rupees/kg. February futures are currently at Rs 29,485 per 100 kg, March futures at Rs 29,780, and April at Rs 30,050 per 100 kg, down 705, 510 and 370 rupees respectively from a week ago.
In Vietnam, people in Chau Duc, Ba Ria – Vung Tau have started to harvest the new pepper crop in 2012. Followed by other pepper growing regions in the Southeast, the Central Highlands have also begun to harvest pepper in some early ripening regions.
However, contrary to the expectations of international customers, the price of black pepper in Ba Ria – Vung Tau continues to inched up, currently at 121,000-122,000 VND/kg, an increase of about 5,000 compared to a week ago, and about 5,000 VND/kg. 10% from a month ago.
Starting on February 10, the Singapore Exchange (SMX – Singapore Mercantile Exchange) put the first international black pepper futures contract into trading. The source of pepper traded on the floor will be from a bonded warehouse in Vietnam – the world’s largest pepper producer with 43% of global output. This will be considered as one of the most standard reference prices for this item.
On the first day of listing on the international floor, the price of Vietnamese black pepper reached $6,050/ton, much higher than the average export price of $5,637/ton in 2011, opening a bright prospect for the industry. Vietnamese pepper.
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