Yesterday 19/10, the price of black pepper bucket in Ba Ria-Vung Tau dropped to 152,000 VND/kg, approximately 4% compared to the record high reached last week.
Closing the session yesterday, pepper prices in the world futures market had a sharp drop in the first two sessions of the week. Futures of November, December and January 2012 respectively decreased by a total of Rs 1,125, Rs 1,200 and Rs 1,260, respectively, down at Rs 35,720 per quintal, Rs 36,180 per quintal and Rs 36,430 per quintal, equivalent to $7,279 per ton, respectively. $7,373/ton and $7,424/ton.
Bucket black pepper prices in Ba Ria-Vung Tau fell to VND152,000/kg, approximately 4% lower than the record high reached last week.
The price of black pepper in buckets in the Central Highlands provinces also dropped to about 4,000-6,000 VND/kg.
A considerable amount of stock in the gardeners and small speculators is not yet brought to the market at this price.
Statistics of Customs have just said that pepper exports in September reached 10,119 tons of all kinds of pepper with a turnover of 69.42 million USD, accumulated in the first 9 months of the year, 109,933 tons of pepper of all kinds were exported with a turnover value of 109,933 tons. USD 629.85 million, although decreasing in volume and turnover compared to the previous month, but increased 12% in volume and increased 89.2% in value of turnover over the same period last year.
The average export price of pepper in September reached 6,860 USD/ton, up 9.69% compared to the average export price last month.
Export price of pepper in the world shows signs of slowing down because it is in a very high price area, so buyers are also somewhat limited.
An exporter in Ho Chi Minh City also said that there has not been a new contract signed for a few days.
However, the Indian black pepper price is still offered a special MG1 grade for the European market, $8,100/ton and the US market, $8,400/ton (C&F), at a very competitive price.
While Vietnamese black pepper is offered at a discount of 50-100 USD compared to last week.
It is expected that importers will return to the market to prepare for the winter, which is also the wedding season and Christmas at the end of the year.
Due to heavy rains, epidemic diseases, especially slow death on pepper, are raging seriously in some key pepper growing areas of our country.
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