Price movements of pepper in some raw material areas
Unit: VND / kg
Central Highlands News
|
The provincial / district (survey area) |
Purchase price Unit: VND / kg |
|---|---|
|
Dak Lak |
|
|
– Ea H'leo |
38,000 |
|
Gia Lai |
|
|
– Chu Se |
36,500 |
|
Dak Nong |
|
|
– Chiayi |
38,000 |
|
BA Ria Vung Tau |
|
|
– Average price |
39,500 |
|
Binh Phuoc |
|
|
– Average price |
38,500 |
|
Dong Nai |
|
|
– Average price |
37,000 |
According to a source from giatieu.com (pepper prices are updated every 15 minutes), on the world market, on Kochi – India today (February 6, 2020) spot prices dropped sharply to 1,330 rupees, similar or 3.89% to as low as 32,835 rupees / quintal. The price of pepper futures in 02/2020 was 32,280 rupees / quintal.
Pepper price (Kochi floor – India)
giatieu.com
|
Period |
Price match |
Change |
% |
Amount |
Tallest |
The shortest |
Open door |
Yesterday |
OPEN OPENING |
|---|---|---|---|---|---|---|---|---|---|
|
DELIVERY NOW |
32835 |
-1330 |
-3.89 |
0 |
32835 |
32835 |
32835 |
34165 |
0 |
|
02/20 |
33280 |
0 |
0.00 |
0 |
33280 |
33280 |
33280 |
33280 |
0 |
The cross-exchange rate of Vietnam dong against the Indian rupee (INR) from February 6, 2020 to February 12, 2020 is applied by the State Bank to calculate export tax and import tax of 325.67. VND / INR, source Portal of the State Bank of Vietnam.
According to preliminary estimates of the General Department of Vietnam Customs announced in early 2020, Vietnam's pepper exports in 2019 reached 283,836 tons, up 22% compared to 2018 and the third consecutive year of increase. The export value of pepper in 2019 decreased by 5.4%, reaching only US $ 714.14 million due to the decrease in global pepper prices last year (the average export price of Vietnam in 2019 decreased by 22.8% over the previous year, only 2,516 USD / ton left).
Citing Economic Life, it is forecast that from now until the end of the year, pepper prices will continue to remain low, even possibly further reduced due to the planted areas from 2016 – 2017 in major producing countries. Now is the time for high yields. Some industry experts forecast that Vietnam's pepper price may drop to only VND 36-38 thousand / kg this year, even to VND 35,000.
However, from the end of 2020, prices may start to recover when the supply and demand return to the equilibrium level and many businesses increase their stockpiling buying times when the pepper prices are low. From 2021 the likelihood of price increases begins to increase as output of most countries plummets, including in Vietnam. The increased quality of pepper and high labor costs will also contribute to the price of pepper going up from next year.
Citing Economy and Consumption, the new pepper crop in the state of Kerala has officially begun after a two-week delay. However, the quantity and quality of pepper are still very low, the evaluation of some traders according to Cogencis. The moisture of the first harvest is about 17-20%, higher than the normal level of about 13%.
Experts forecast that pepper prices may decrease in the period of February – March after the states of Kerala and Karnataka in the main season and the output may reach the threshold of 200 – 300 tons / week.
Source: VITIC
