This is something that has never happened to the world pepper market. Vietnam is currently out of stock and it is not until March that new crops can be harvested.
Closing the early closing session of the weekend, Saturday 17/12, the pepper futures market, in Kochi-India, continued the rising chain to extend the 7th session for the December delivery, for a total increase of 2,510 lakhs, or 7.11%, up to 37,805 lakhs, equivalent to 7,158 USD / ton (1 USD = 52,8099 lakhs).
At the same time, the delivery term of January 2012 increased by only Rs 1,070, an increase of 3.09%, to Rs 35,700 / quintal, equivalent to US $ 6,760 / ton. While the spot pepper increased by Rs 1,596, an increase of 4.59%, to Rs 36,353 / quintal, equivalent to USD 6,883 / ton.
According to world pepper market observers, Vietnam, the current No. 1 exporter of pepper, is out of stock. Due to high export prices at the end of the year, our country's traders have stepped up exports, completing the 2011 plan earlier than expected. This made the real demand for the holiday season more stressful, forcing importers to raise the price of spot pepper and the December delivery period to increase to attract reserve goods to the market. This is also something that has never happened to the world pepper market.
According to observers, from now until Vietnam has a new crop, around the end of March, the supply from Kerala India will start to be available at the end of December and will only relieve the thirst temporarily.
The increase in prices on the trading floor only helps Indian pepper growers have immediate benefits, so the spot price will be pushed up again.
The International Pepper Association (IPC), in anticipating the world pepper production in 2012, affirmed that the world will continue to have shortage of pepper and the new growing area will increase rapidly in some countries that can help quench thirst. .
Prices of domestic pepper in Ba Ria-Vung Tau remained at VND 130,000 – 132,000 / kg, although it decreased by more than VND 20,000 compared to a record high but still a very high level compared to every year, the transaction was not significant.
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