This afternoon, June 11, the price of pepper at the Ba Ria – Vung Tau market fluctuated at 124-125 thousand VND / kg, Binh Phuoc market 122-123 thousand VND / kg and the Central Highlands markets 120-121,000 VND / kg, the difference is only VND 2-3,000 / kg.
Closing early on Saturday afternoon, June 9, world pepper prices on NCDEX in Kochi- India, delivery terms of June, July and August reached Rs 39,410 a quintal, 39,505 Rs / quintal and Rs 39,720 / quintal, equivalent to USD 7,131 / ton, USD 7,148 / ton and USD 7,187 / ton.
Compared to the first session of the month, pepper futures prices increased by Rs 1,185, Rs 1,105 and Rs 975, respectively, up 214 USD, 200 USD and 176 USD. (1 USD = 55,2648 rupees)
Spot pepper prices in the Indian domestic market tended to increase slightly by Rs 200 to Rs 37,700 a quintal, equivalent to US $ 6,822 per tonne for pepper and to Rs 39,200 a quintal, to 7,093. USD / ton for MG1 selected type, up 120-140 USD, mainly due to the exchange rate of Rupee compared to the first day of the month.
Pepper price of MG1 type of India on the international market is USD 7,450 / ton (C&F) for export to Europe and USD 7,750 / ton (C&F) for export to the US, an increase of USD 200.
Meanwhile, the SMX term pepper trading platform in Singapore from May 28 until now almost froze. There are a number of open contracts but no exception to the maintenance and waiting for customers to participate more actively.
Prices of export pepper of countries fluctuated insignificantly. Vietnam black pepper grade 550 Gr / l-FAQ was offered at USD 6,250-6,300 per ton and 550 gr / l-FAQ grade at USD 6,550-6,600 per tonne, (FOB), while 570 gr / l was black pepper. -Asta is offered at USD 6,950-7,000 / ton, (FOB) unchanged. Brazilian black pepper of type B1 was priced at US $ 6,550-6,600 / ton and B2 grade at US $ 6,450-6,500 / ton, (FOB) increased slightly.
The world pepper market in recent days is expecting new pepper from Malaysia and Sri Lanka to cool down, but the export of these two countries only accounts for about 10% of the world market share, a modest figure.
It is possible that this year's production of many countries will increase, but it will not be enough to compensate for the annual shortage of the world demand, according to the IPC's forecast, at least in the next few years. Meanwhile, the export volume of the world in 2011 is still 4.39% lower than in 2010, but the annual consumption demand is still increasing.
It is reported that Indian spice traders are increasing imports of new pepper from neighboring Sri Lanka, along the border to reduce costs. And pepper importers around the world also find ways to reduce prices by closer sources because shipping costs are now too high. It is known that according to the Bilateral Trade Agreement, India will import 2,500 tons of pepper from Sri Lanka. Therefore, it is understandable to wait for the supply of pepper from Malaysia and Sri Lanka.
Currently, Vietnam's pepper volume is expected to decrease by 10% compared to the same period, but exporters are not in a hurry even though the purchasing power is weak due to the global economic downturn.
This afternoon, June 11, the price of pepper at the Ba Ria – Vung Tau market fluctuated at 124-125 thousand VND / kg, Binh Phuoc market 122-123 thousand VND / kg and the Central Highlands markets 120-121,000 VND / kg, the difference is only VND 2-3,000 / kg.
According to traders, this is the domestic price maintained over 10 days, though there is no significant fluctuation. This price makes the amount of goods brought to the market very small because pepper growers are expecting better prices.
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Source TTVN / CafeF
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