On the afternoon of August 22, the price of pepper in Ba Ria-Vung Tau was pushed up to 130,000 VND/kg, continuously setting a new record.
Benefiting from August 20, which is the transfer date of August term to September term, pepper prices on the exchange in Kochi-India rebounded strongly. Only through two sessions last Saturday and the beginning of this week, September term increased by 1,076 rupees, or 237 USD, to 32,930 rupees/quintal, equivalent to 7,259 USD/ton, a new high since 1996. for the near term.
In the past week, there has been a phenomenon of selling cheap to buy high, prices chasing each other. A large agent in Chau Duc Ba Ria-Vung Tau said so.
The reason for the high price of pepper is that the world pepper supply and demand is still unbalanced. In particular, taking the opportunity of rising prices, domestic businesses need goods to boost exports and demand is strong during the festive season of Muslim countries.
Some key pepper producing countries also have import demand. Customs statistics in July showed that India imported 1,030 tons of pepper of all kinds from our country, bringing the total number of imports since the beginning of the year to 5,287 tons. Similarly, Indonesia also imported 282 tons, bringing the total imported from the beginning of the year to 877 tons.
The price of pepper in the Ba Ria-Vung Tau market has proved to be more sensitive and vibrant than any other domestic market, often with a leading growth rate.
The global and domestic pepper market also promises surprises.
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