Speculative top discharge activities in the domestic market are affecting pepper prices.
This morning, Friday, June 22, pepper prices in raw material areas continued to weaken. The price of black pepper in buckets in Ba Ria – Vung Tau, the most competitive locality, and in Binh Phuoc, only decreased by 1,000 VND/kg, down to 55,000 – 56,000 VND/kg while the price in the Central Highlands has decreased by 2,000 VND/kg. kg compared to a week earlier, down to range from 53,000 to 54,000 VND/kg.
Thus, the price of black pepper has decreased slightly since the beginning of this month due to the pressure of the new crop being harvested from Sri Lanka, Malaysia and Indonesia, members of the International Pepper Community (IPC).
However, the preliminary data report of Vietnam Customs shows that pepper exports in the first 15 days of June still reached 10,996 tons of pepper of all kinds, bringing exports in the first 5 and a half months of 2018 to a total of 120,903 tons, a total of 120,903 tons. significantly higher than the same period last year. At the same time, the data also showed that the average export price decreased by only 10 USD/ton compared to the average export price last month, a number that shows the trend of export prices falling slightly compared to the export price of the previous month. .
The latest information from the Indian market said that pepper farmers in Karnataka, the leading pepper producing state of India, have just held a symbolic protest in front of the office of the Product Co., Ltd. India Products Pvt (IPP), a Jayanti group company, alleges the company’s invoicing of imports. However, the company denied the grower’s accusations and said that it had followed the import norms.
Meanwhile, the growers claim that the company imported low-priced pepper and declared a higher price of Rs 500/kg, instead of buying from Karnataka farmers who are selling for Rs 330/kg (about VND 110,000/kg). ).
It is known that IPP is an import-export and value-added processing company, so sometimes they import goods from global customers just to process and re-export according to their requirements. Every year IPP export about 2,000 tons of pepper domestically and re-export about 1,500 tons of pepper after processing.
The price of Indian black pepper in the domestic market of Kerala state has decreased by Rs 400 more compared to the previous week, to trade at Rs 30,500/quintal (equivalent to USD 4,472/ton) for bucket pepper and at Rs 33,600/quintal. equivalent to USD 4,927/ton) for pre-processed type.
Meanwhile, the export price of black pepper of the producing countries was almost unchanged.
According to observers, pepper prices in Vietnam’s domestic market weakened when some warehouses had speculative discharge due to an unexpected increase, while loan interest rates began to become a burden, so it was necessary to investment recovery and conversion.
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