Prices for pepper at Ba Ria-Vung Tau 121-122 thousand VND / kg, in Binh Phuoc 120 thousand VND / kg and the Central Highlands provinces 118-119 thousand VND / kg, an average reduction of 3,000 VND / kg compared to the previous week.
Ending the weekend trading session on Saturday, July 21, on the NCDEX trading floor in Indian Kochi market, pepper price fluctuated in opposite directions between terms. While the near term delivery in August and September decreased slightly, the long term delivery in October and November increased slightly, indicating that the futures market is under pressure of supply.
At the close of the session, the terms delivered in August and September stood at Rs 43,275 a quintal, Rs 43,650 a quintal, equivalent to US $ 7,788 per ton, US $ 7,855 per ton and the delivery for October and November stood at Rs 44,175. / quintal, Rs 44,400 / quintal is equivalent to USD 7,950 / ton, USD 7,990 / ton. (1USD = 55,5672 Rupees)
Spot price of pepper increased to Rs 40,100 equivalent to 7,216 USD / ton for pail and Rs 41,600 / quintal, equivalent to 7,486 USD / ton for selected type MG1, although increasing but mainly due to Rupee exchange rate. keep going low.
Special export price of Indian grade MG1 was 7,900-8,000 USD / ton (C&F) for export to Europe and 8,200-8,300 USD / ton (C&F) for US export, increasing by 50-100 USD.
According to Reuters, the current export price of India has a difference of up to 700-1000 USD / ton higher than the price of pepper of other origins.
Meanwhile, futures trading on Singapore Mercantile Exchange (SMX) was active again. Closing this weekend, the term for delivery in August stood at 6,120 USD / ton and delivery for September stood at 6,187 USD / ton, still a big difference compared to the price of futures in India.
Traders in India said that, although Indonesia and Brazil, the two leading pepper producing countries, have surrendered, but the pressure of supply is not significant. Because India's demand for pepper is still high, they are actively seeking supplies from countries, especially when the holy month of Ramadan is coming.
Some Indian importers have bought Brazilian B1 grade at 6,300 USD / ton, FOB price, while Vietnamese traders said that the pepper skin is very thin and therefore easy to be processed into seeds. White pepper.
Vietnam's export black pepper grade of 500g Gr / l-FAQ was offered at US $ 6,000-6,050 / ton and 550 Gr / l-FAQ grade was offered at US $ 6,300-6,350 / ton, (FOB), down by US $ 200, in white pepper grade 630Gr / l-FAQ offered at USD 9,000-9,050 / tonne (FOB), down USD 350 but the demand was very weak.
Domestic prices of black pepper also decreased significantly. This morning 22/7, pepper prices in Ba Ria-Vung Tau to 121-122 thousand VND / kg, in Binh Phuoc 120 thousand VND / kg and the Central Highlands provinces 118-119 thousand VND / kg, an average reduction of 3,000 VND / kg compared to the previous week.
According to Customs statistics, the export in the first half of July reached 3,038 tons of pepper of all kinds with a turnover of US $ 22.9 million, bringing the export of six months and a half to 72,251 tons of pepper of all kinds with a value of metal turnover of 494.7 million USD. The average export price in the period reached US $ 7,561 / ton, up 10.5% compared to the previous month's average price.
Source English (TTVN / CafeF)
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