The key countries are harvesting but the newly harvested output is not strong enough to cause the price to fall.
After a slight drop at the beginning of the week, pepper price on Kochi-India floor had 2 consecutive gaining sessions. In that session on July 13, July pepper price increased by Rs 89 to Rs 26,988 / quintal, equivalent to USD 6,005 / ton; August term increased by Rs 81 to Rs 27,479 / quintal, equivalent to USD 6,115 / ton; September term increased by Rs 71 to Rs 27,881 / quintal equivalent to USD 6,204 / ton; Spot pepper prices at Rs 26,400 a quintal equal to 5,875 USD / ton.
In water, pepper prices bucket up to 110,000 VND / kg in the afternoon of 14/7, after maintaining a stable at 105 – 106,000 VND / kg during the past half month. This price is considered to be the first buying agent when pepper price in the futures market has shown signs of increase in recent days.
Currently, major producing countries such as Malaysia, Indonesia, Brazil are in the harvest, but the price of pepper on the world futures market has hardly dropped. According to the International Pepper Association (IPC), in 2011, Malaysia had 13,000 hectares of 25,500 tons of pepper of all kinds, Indonesia had 170,000 hectares of 37,500 tons of pepper of all kinds, Brazil had 45,000 hectares of 35,500 tons of pepper of all kinds. .
For agricultural products, the harvest time is usually the time of falling prices or low prices. However, in the past half of the month, the price fluctuation range in the world futures pepper market was very small, almost negligible. This shows that even though the major producing countries are in the harvest season, the newly collected output is not enough to affect the market. This means that the supply of pepper has not satisfied the increasing demand of the world. Therefore traders said that pepper market At the end of the year, the world has more surprises and the upward trend is still the main trend of the second half of this year.
Vietnam's export black pepper is being offered for sale at US $ 5,950 / ton, 550 Gr / l-Asta grade at US $ 6,350 / ton and 580Gr / l-Asta grade at US $ 6,750, while 500 Gr / l-FAQ type is priced at USD 5,600 / ton and 550 Gr / l-FAQ type is priced at USD 5,950 / ton (FOB), an increase of USD 50 compared to the previous week due to increased demand.
Indian pepper of special type MG1 returned to 6,400 USD / ton (C&F), a slight decrease due to the high exchange rate of Rupee against USD.
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