Export pepper price lost 800 USD / ton in the last 1 month, equivalent to over 10%. New pepper price is low at 113 – 115 thousand dong / kg.
After the first 2 sessions of the week, the world pepper price on NCDEX futures market continued to plummet. The delivery price in January lost an additional 1,795 lakhs, accounting for 6%, to 29,905 lakhs / quintal, equivalent to 5,694 USD / ton and the February delivery price lost an additional 1,845 lakhs, accounting for 6.1%, down to Rs 30,265 / quintal, equivalent approximately 5,763 USD / ton (1 USD = 52,5129 Rupees).
Spot prices also decreased by Rs 1,016, accounting for 3.23%, to Rs 31,413 a quintal, equivalent to US $ 5,982 / ton, the lowest reduction. Spot prices were higher than futures, indicating that demand for real goods was strong.
Exported black pepper of Vietnam was offered at grade 500 Gr / l-FAQ at 5,850 USD / ton and 550 Gr / l-FAQ at 6,200 USD / ton, (FOB). While Indian black pepper of special grade MG1 exported to the EU at 6,500 USD / ton and to the US at 6,800 USD / ton, (C&F), still maintaining competitive prices.
Over the past 30 days, black pepper prices of exporting countries have decreased by USD 800 / ton on average.
Pepper prices are expected to fall slightly in the short term due to purchasing power, although supply continues to tighten as world pepper production and production decline due to climate change and widespread epidemics …
It is known that, besides Indian farmers began to harvest new pepper, from the end of December to March, Vietnamese farmers also have some area to start harvesting this year's pepper.
Today, 11/1, Ba Ria-Vung Tau market recorded a new target to the market with a transaction price of 113,000-115,000 VND / kg, while the old crop 122-124,000 VND / kg.
According to Customs statistics, Vietnam's pepper export in the first half of December reached 1,761 tons of all kinds of pepper 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 US $ 720.5 million, up only 7.8% in volume but up to 77.9% in price over the same period. last year.
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