Some traders specializing in supplying goods to pepper processing and exporting companies said that companies are intensifying their sourcing because foreign customers' demand is interrupted during Tet holiday.
Closing the last trading session of last week, the price of pepper at Kochi-India market decreased slightly, although rising price was still the main trend in the past week. The terms of February, March and April respectively decreased at Rs 30,250 / quintal, Rs 30,330 / quintal and Rs 30,400 / quintal, equivalent to USD 6,179 / ton, USD 6,195 / ton, USD 6,209 / ton. While the spot price of pepper continued to increase by Rs 158, to Rs 31,186 / quintal, equivalent to USD 6,370 / ton. (1 USD = Rs 48.9598)
Price of pepper is now increasing continuously in part due to the fact that Indian pepper productivity this year is not as expected and farmers in this country grow pepper in an extensive manner. Therefore, the supply of world pepper in the immediate future will be scarce.
According to observers on the floor, about two months now the price of pepper delivered by term is always lower than spot price. This is not only beneficial for Indian pepper farmers in the harvest season but also a signal that this year's world pepper market continues to hide unpredictable fluctuations.
Currently in Chau Duc, Ba Ria-Vung Tau, the district with the largest number of pepper areas of our country has begun to speed up the progress of harvesting new crops in 2012. Followed by the Southeast, the Central Highlands also Start harvesting pepper in some early ripening areas.
This morning, February 6, black pepper prices for new crops in Ba Ria – Vung Tau increased slightly. Currently trading around VND 116,000-117,000 / kg, an increase of VND 4,000 compared to the first days of the crop. Although the supply has come to the market, the price of black pepper has inched up, confirming that the real demand in the market is still tense.
Vietnam's export black pepper of grade 500 Gr / l-FAQ was offered at USD 5,800 / ton, grade 550 Gr / l-FAQ at USD 6,150-6,200 / ton, FOB, equivalent to the price before Tet holiday. While Indian black pepper of special grade MG1 was priced at 6,600 USD / ton to Europe and 6,900 USD / ton to the US, (C&F), it continued to increase slightly.
According to Customs statistics, pepper exports in the first 15 days of January 2012 reached 1,978 tons of pepper of all kinds with a turnover of US $ 14 million, although only increasing 3.51% in volume but up to 44.36% in prices compared to the same period last year due to high export prices.
It is known that on 9-11 February 2012, this is India's Seasoning Festival, there will be about 200 guests from around the world invited to attend, including many processing and trading nuts. pepper.
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