Purchasing demand from export companies is currently very low. Meanwhile, pepper farmers were not in a hurry to sell because they expected higher prices in the near future.
According to the annual conference of the American Spice Trade Association (ASTA), held in late April in Florida, the association is considering promoting the inspection of spice food according to new rules. This could be barriers that tighten supply and push pepper prices in North America to a higher level.
After consecutive recession sessions due to the lack of buyers and the depreciation of the Rupee against the US dollar, world futures prices at Kochi-India yesterday, Wednesday, May 16 showed signs. recovery effect. For May, June and July term, respectively, Rs 37,470 / quintal, Rs 38,100 / quintal and Rs 38,705 / quintal, equivalent to USD 6,969 / ton, USD 7,086 / ton and USD 7,199 / ton. (1 USD = 53.7647 Rupees)
Spot price of pepper at the domestic market in India increased again to Rs 36,700 a quintal, equivalent to US $ 6,826 per tonne for pepper and at Rs 38,200 per quintal, equivalent to US $ 7,105 per ton for MG1 selected. Although the domestic price increased by Rs 500, the USD exchange rate increased only slightly by 30-50 USD.
Indian special pepper (MG1) on the international market is priced at US $ 7,200 per tonne (C&F) for Europe and US $ 7,500 per tonne (C&F) for the US, unchanged, maintaining a competitive price. pepper of other origins.
According to Indian pepper traders, they continue to boost imports of other countries, especially those originating from Vietnam, on processing and re-exporting to make profits thanks to the price of Indian pepper at competitive prices. more picture.
Closing the same session on 16/5, on SMX in Singapore, pepper futures for May delivery increased 128 USD to 6,562 USD / ton and June delivery also increased 67 USD to 6,449 USD / ton.
The gap between the futures prices between the two pepper markets in the world has shortened to 400-600 USD / ton, but it is still not reasonable.
This Thursday morning, the domestic pepper price increased by VND 1,000-2,000, up to the price set about 3 weeks ago. Specifically, in Ba Ria – Vung Tau 127 thousand VND / kg, in Binh Phuoc 124 thousand VND / kg and in Gia Lai and Dak Lak – Dak Nong 122-123 thousand VND / kg.
Vietnam's export price of black pepper grade 500g Gr / l-FAQ at US $ 6,350-6,400 / ton and 550 Gr / l-FAQ grade at US $ 6,650-6,700 / ton, while white pepper grade 630Gr / l-FAQ offered Price 9,400-9,450 USD / ton, (FOB), a slight increase.
Black pepper according to ASTA standards of origin costs from USD 7,200-7,500 / ton, (FOB).
The Vietnam Pepper Association (VPA) has just issued a warning, our country's pepper exporters need to be cautious in signing export contracts because the world price of pepper is in an unstable period. This will be an excuse for importers to consolidate and then push prices to benefit.
Pepper exports in the first 4 months of 2012 were 47,784 tons of pepper of all kinds, including 40,946 tons of black pepper and 6,838 tons of white pepper. The total value of turnover reached 323.6 million USD, of which black pepper was 260.2 million USD, white pepper was 63.4 million USD. The average price was 6,772 USD / ton, of which black pepper was 6,355 USD / ton and white pepper was 9,272 USD / ton. (VPA)
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Source TTVN / CafeF
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