Export price of pepper lost 800 USD/ton in the past 1 month, equivalent to over 10%. The price of pepper in the new crop is at a low level of 113 – 115 thousand VND/kg.
Through the first 2 trading sessions of the week, the world pepper price on the NCDEX futures floor continued to plummet strongly. January delivery lost another 1,795 Rupees, accounting for 6%, to Rs 29,905 per quintal, equivalent to $5,694 per tonne and February delivery lost another Rs 1,845, accounting for 6.1%, to Rs 30,265 per quintal. equivalent to USD 5,763/ton ( USD 1 = Rs 52,5129 ).
Spot pepper prices also decreased by Rs 1,016, accounting for 3.23%, to Rs 31,413 per quintal, or $5,982 per ton, the lowest decline. Spot pepper prices remained at a higher level than forward pepper prices, showing that real demand is still very strong.
Vietnam’s export black pepper is offered at 500 Gr/l-FAQ at $5,850/ton and 550 Gr/l-FAQ at $6,200/ton, (FOB). While MG1 Indian black pepper is exported to the EU at $6,500/ton and to the US at $6,800/ton, (C&F), still maintaining a competitive price.
In the past 30 days, the price of black pepper in exporting countries decreased by an average of 800 USD/ton for all kinds.
It is expected that pepper prices will decrease slightly in the short term due to purchasing power, although supply will continue to be tight because of the decline in world pepper production and productivity due to climate change and widespread epidemics…
It is known that besides Indian farmers starting to harvest the new pepper crop, from the end of December to March, Vietnamese farmers also have some areas to start harvesting this year’s pepper crop.
Today, January 11, the market of Ba Ria-Vung Tau recorded a new crop put on the market with a transaction price of 113,000-115,000 VND/kg, while the old crop was 122-124,000 VND/kg.
According to statistics of the Customs sector, Vietnam’s pepper exports in the first half of December reached 1,761 tons of pepper of all kinds with a turnover of 13.7 million USD. Accumulated from the beginning of the year to December 15, export reached 122,220 tons of pepper of all kinds with a turnover of 720.5 million USD, increased only 7.8% in volume but increased by 77.9 % in price over the same period. last year.
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