This morning, January 17, the price of pepper at Ba Ria-Vung Tau was traded at only 108,000-110,000 VND / kg, an average reduction of 5,000 VND / kg after just one week of offering new crops.
Pepper growers here said, certainly pepper production this year fell quite large but have not given specific estimates.
Vietnam's pepper market has been quiet since December. Customs statistics show that, in the first half of December, pepper export volume decreased by 12.16% compared to the first half of November and the month with the least amount of pepper exported in 2011.
However, the market for pepper in particular and agricultural products in general during this period often declined because it fell on many holidays, especially the traditional Lunar New Year holiday.
Export pepper currently offered for sale is only 500 Gr / l-FAQ black pepper at US $ 5,400-5,450 / ton and white pepper grade 630 Gr / l-FAQ is priced at US $ 9,400-9,450 / ton, FOB, but The quantity is also very limited. Compared to last week, white pepper price decreased by US $ 200 / ton while black pepper lost US $ 400.
Agriculture predicts that this year the export volume of pepper can be reduced by up to 1/3 compared to 2011 due to unfavorable weather and pests that reduce productivity on a large scale.
On the world market, the price of Kochi Indian term pepper declined continuously in the last trading sessions last week. In just two days 13 and 14 January, the term in January lost 715 lakhs, or 2.34%, down to 30,605 lakhs, equivalent to 5,951 USD / ton and the February term also lost 680 lakhs, equivalent to 2, 19%, down to Rs 30,980 / quintal, or 6,023 USD / ton.
Meanwhile, the spot price of pepper at the end of the week was equal to two sessions of opposite price futures to increase by Rs 133, or 0.42%, to Rs 31,530 / quintal, equivalent to USD 6,131 / ton. (1 USD = 51.4302 Rupees)
According to futures market analysts, it is only the technical adjustment of paper products, while real prices continue to rise. It can be seen that the increased spot price of pepper has stimulated Indian pepper growers to take advantage of the recently harvested sales to the market in the high price area. On the contrary, the price of pepper futures dropped, detrimental to pepper growers in other countries because domestic prices will fall.
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