In just the past 30 days, from July 25 to August 24, world and Vietnamese pepper prices increased by 11-20%, an increase exceeding all forecasts.
On the Kochi-India market, the near term pepper price increased from Rs 29,596 per quintal to Rs 32,900 per quintal, or an increase of Rs 3,304, accounting for 11.16%, equivalent to an increase of $ 666 per ton.
The domestic price of black pepper in a bucket in Ba Ria-Vung Tau increased from 113,000 VND/kg to 133,000 VND/kg, an increase of 20,000 VND/kg, equivalent to an increase of 1,000 USD/ton.
Vietnam’s export black pepper is being offered for sale in 500 Gr/l-Asta at $7,150/ton and 550Gr/l-Asta at $7,500, while 500 Gr/l-FAQ at $6,700/ton and grade 550 Gr/l-FAQ priced at $7,050/ton, (FOB), an average increase of $1,100/ton.
Particularly, white pepper grade DW 630 Gr/l was offered at $9,500/ton, (FOB), an increase of $1,200/ton, the highest increase of all types but the source of goods was also very limited.
Looking at the very strong increases, it can be confirmed that the demand for real goods is quite tense, close to many early forecasts from the beginning of the year when the world pepper supply and demand is increasingly unbalanced.
While world demand is still increasing every year, supply decreases in many main producing countries because of the influence of weather, climate change…will create unpredictable developments.
According to statistics of the Agriculture industry, pepper exports in August are estimated at 15,000 tons, with a turnover of 91 million USD, bringing the export volume of pepper in 8 months to 98,000 tons with an export value of 545 million USD. , up 6.5% in volume and 78.7% in value over the same period last year.
This contributes to confirm that pepper prices in the remaining months of the year will create more surprises.
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