The strong buying power in India has pulled pepper prices in this market up, while in Vietnam and Singapore exchanges, both sellers and buyers are absent.
Pepper futures on NCDEX in India continued to rise at a high level while pepper on SMX still maintained the opposite trend.
At the end of the last session of the week, on Saturday, July 14, pepper futures prices on NCDEX in the Indian Kochi market continued to rise to a high level. The delivery term in July is Rs 42,730/quintal equivalent to USD 7,789/ton, Rs 43,240/quintal equivalent to USD 7,882/ton for August delivery and Rs 43,520/quintal equivalent to USD 7,933/ton. (1 USD = 54.8625 Rupees).
Spot pepper prices parallel the price trend of the futures market up at Rs 39,900 or $7,273 per tonne for bucket pepper and Rs 41,400 per quintal or $7,546 per ton for MG1 pick. 180-200 USD/ton compared to the beginning of the month. Although the rupee has rebounded, high demand continues to drive up domestic pepper prices in India.
The price of India’s MG1 specialty pepper in the international market is about $7,850-7,900/ton (C&F) for Europe and about $8,150-8,200/ton (C&F) for the US, still keeping the difference. higher than the export price of other countries.
Meanwhile, after a long period of lack of traders, the price of pepper futures on the Singapore Mercantile Exchange (SMX) this weekend stood at $6,160/ton for July delivery and $5,967/ton of Futures for delivery in August still remain too far apart from pepper futures prices in India.
According to Mr. Lo Kun Seng, managing director of a major Malaysian pepper export company, in the second half of the year, the pepper market will cool down when major pepper producing countries such as Indonesia and Brazil release goods, farmers and Traders of pepper producing countries are not in a hurry to sell at current prices.
“They are holding a significant amount of stock and are waiting for the price to rise. Demand in import markets remains high. The public debt crisis of the common currency area (Eurozone) also has little impact on world pepper prices. Mr. Lo commented.
According to the seasonal calendar, Indonesia has now entered the second month of a new harvest that lasts about four months, while Brazil will also have a new crop to enter the market, expected in mid-October or November. .
While in Vietnam, the world’s No. 1 pepper producer and exporter, accounting for more than one-third of global pepper production, pepper trade in the domestic market is currently quite quiet. Some export companies temporarily stopped eating, and many agents also stopped buying because “the company lacks money, slow payment”, making farmers hesitate to sell even though the domestic price of pepper has decreased. light, according to traders.
This morning, July 15, the price of black pepper in Ba Ria – Vung Tau was 124-125,000 VND/kg, Binh Phuoc was 123,000 VND/kg and the Central Highlands provinces 121-122 thousand VND/kg, down 1-2 thousand. compared to the beginning of the month.
The export price of Vietnamese black pepper 500g Gr/l-FAQ at $6,200-6,250/ton and 550 Gr/l-FAQ at $6,500-6,550/ton, while white pepper 630Gr/l-FAQ offered 9,350 -9,400 USD/ton and DW630Gr/l grade priced at 9,700-9,750 USD/ton, (FOB), down 100 USD.
According to Customs statistics, June export reached 9,522 tons of pepper of all kinds with a turnover of 65.12 million USD, down 22.1% in volume and 22.4% in value compared to the previous month, bringing export volume in the first 6 months of the year increased to 69,163 tons of pepper of all kinds with a turnover of 471.3 million USD, down 0.7% in volume but increasing by 25.5% in value over the same period last year. The average export price in June reached 6,839 USD/ton, still at a high level.
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