The export price of Vietnamese black pepper for export 500 Gr/l-FAQ is offered at 6,000-6,050 USD/ton and 550 Gr/l-FAQ grade is offered at 6,350-6,400 USD/ton (FOB), down 200 USD compared to the previous week. .
Closing the session on the first Monday of the week, world pepper futures prices on NCDEX in Kochi-India continued to decrease slightly. Futures of April, May and June, respectively, lost Rs 185, Rs 25 and Rs 255, respectively, down at Rs 39,070 per quintal, Rs 39,770 per quintal and Rs 40,055 per quintal, equivalent to USD 7,661/ton, USD 7,799/ton and 7,855 USD/ton. ( 1 USD = 50,9953 Rupees )
Spot pepper prices in the Indian domestic market decreased by Rs 1,000, or Rs 37,000 per quintal, or $7,250 per ton, for bucket pepper and Rs 38,500, or $7,550 per ton, for selected MG1 pepper. , down more than 200 USD.
The downtrend may be prolonged because the futures price is now too high compared to the real commodity. At this time, the price of Indian pepper is only for reference because it is too high compared to other major pepper producing countries in the world.
Pepper traders in Lampung Indonesia said that in the medium and long term, real prices will create unpredictable movements that an upward price trend will be an inevitable trend.
Pepper futures price at SMX-Singapore in the past 10 days
At the same time, pepper prices on the SMX exchange in Singapore were mixed between terms. While the term for delivery in April suddenly increased by 98 USD, a very strong increase, to 6,509 USD/ton, the term for delivery in May decreased by 40 USD, to 6,409 USD/ton. The reversal shows that the real demand in the near term is still high while the downtrend has not stopped dominating pepper prices in this market.
Although the gap in the futures price difference between the two exchanges has been shortened, it is still over $1,000. According to analysts of the pepper futures market, the futures price fluctuation between the two exchanges shortening to the distance of 300-500 USD is more reasonable.
This morning, April 3, the price of black pepper in the domestic market continued to decrease by 5,000-6,000 VND compared to a week ago. Specifically, in Ba Ria-Vung Tau, the price decreased to 120,000 VND/kg, in Binh Phuoc the price was 117,000 VND/kg, in Dak Lak-Dak Nong and Gia Lai the price also dropped to 115-116,000 VND/kg. kg.
The export price of Vietnamese black pepper 500 Gr/l-FAQ is offered at $6,000-6,050 per tonne and 550 Gr/l-FAQ is offered at $6,350-6,400 per ton (FOB), down $200.
Indian pepper, MG1 specialty, exported to the EU is priced at 8,000-8,050 USD/ton and exported to the US is priced at 8,300-8,350 USD/ton (C&F), down 300 USD.
Indian pepper traders are currently planning to increase imports for domestic consumption, possibly up to nearly double the volume of imports of the previous year. It is known that in 2011, India imported from our country 6,696 tons of pepper of all kinds with a turnover of 36.3 million USD, in the top 5 pepper imports of Vietnam.
Up to now, farmers have harvested 70-80% of the pepper area. While the epidemic continues to threaten without any highly effective prevention measures, the passing of the No. 1 storm has left new worries for pepper growers in our country.
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