This morning, April 24, the price of pepper in buckets in Ba Ria-Vung Tau and Dak Nong has increased again to 110,000 VND/kg, but traders and agents have no goods to collect.
When in just one week, pepper prices on the world exchange in India dropped but only more than 4%, at the same time the price of pepper buckets on the domestic market dropped by nearly 17%. This difference proves that, whether increasing or decreasing, the domestic market price is always hotter than the world market.
Only through the last 2 trading sessions, the price of pepper on the Kochi-India exchange has regained nearly enough points lost in the previous 7 days. This is also the basis for many recent articles to confirm that the domestic pepper price will soon recover to a high level.
In order to get acumen and quickly change according to the world pepper market, agents, traders who purchase agricultural products and even many farmers update information online in a timely manner so that offer a fair price for both parties.
This morning, April 24, the price of pepper in buckets in Ba Ria-Vung Tau and Dak Nong has increased again to 110,000 VND/kg, but traders and agents have no goods to collect. Pepper growers want a more reasonable price to sell.
In the April 23 session on the Kochi-India world exchange, the price of pepper changed strongly in the direction that it is likely to surpass the high of the session on April 11, the day that pulled the domestic pepper bucket to VND 120,000. /kg
Last time, the price of India’s MG1-ASTA pepper, which is often called a special pepper according to the standards of the American Spice Association, was offered for sale at Rs 25,700-26,200 per quintal equivalent to 5,750- 5,820 USD/ton but very limited quantity.
Importers around the world turned to look for goods from Vietnam. Seizing the opportunity, Vietnamese exporters pushed the price of 500 Gr/l black pepper to $5,300/ton and 550 Gr/l black pepper to $5,650/ton (FOB).
After that, following the increasing momentum of the market and worrying about supply, our country’s exporters continued to take advantage of the opportunity to offer export black pepper at the price of 5,900 USD/ton for 500 gr/l and 6,200 USD/ton for 550 Gr/l (FOB). Meanwhile, India’s MG1-ASTA pepper price also increased to $6,400/ton (C&F) for the US market and $6,300/ton (C&F) for the European market.
A few days of Indian traders taking a Hindu religious holiday made the world pepper market calm down and it took a week to begin to recover. The recovery proved to be so rapid that it took the market by surprise, followed by Easter, the world’s most important Jewish and Christian holidays.
It is certain that with the severe shortage of pepper according to this year’s forecast, the pepper market will still create many surprises.
According to the CafeF
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