In April, pepper exports increased by 15.5% in volume and 54.2% in value over the same period last year.
The world pepper price in April has weakened because investors in the futures market had pushed prices up, making the price of pepper exported from India to the US by over a thousand dollars higher than other countries and importers. US importers have also stepped up to import pepper from various sources to reserve.
At the annual meeting of the American Spice Trade Association (ASTA), held at the end of April in the state of Florida, there were rumors believed to be speculators that the source of export pepper of India is still bountiful, not as tight as expected. In the short term, this rumor will not be beneficial to pepper producing and exporting countries because the US is a huge pepper import market in North America.
Ending the session yesterday, May 2, world pepper futures prices on NCDEX in Kochi-India recovered slightly. The May term increased by Rs 385 to Rs 37,245 per quintal, equivalent to $7,070 per tonne and the June term also increased by Rs 320 to Rs 37,870 per quintal, equivalent to $7,189 per ton. (1 USD = 52.6784 Rupees)
Closing the session on the same day, on the SMX exchange in Singapore, the price of pepper for May delivery increased by 118 USD to 6,445 USD/ton and for June delivery remained unchanged at 6,425 USD/ton.
The forward price difference between the two exchanges from over $2,000 has been shortened significantly.
Indian specialty pepper (MG1) is priced at $7,300/ton (C&F) for Europe and $7,600/ton (C&F) for the US, down $200. While Vietnam’s black pepper exports 500g Gr/l-FAQ at $6,450-6,500/ton and 550 Gr/l-FAQ at $6,750-6,800/ton, an increase of $150-200 compared to last week.
Spot pepper prices in the domestic market of India fell by Rs 300 per quintal at Rs 36,300 per quintal, equivalent to $6,891 per tonne for bucket pepper and at Rs 37,800 per quintal, or $7,176 per ton for selected pepper. MG1, $200 off.
This morning 3/5, the domestic price of pepper bucket increased slightly by 1-2 thousand VND/kg due to strong demand from exporters. Specifically, in Gia Lai and Dak Lak – Dak Nong the price is 122-123 thousand VND/kg, in Binh Phuoc the price is 124,000 VND/kg and the most competitive price is still in Ba Ria – Vung Tau 127 thousand VND/kg.
Up to this point, the key pepper growing areas in the Southeast and the Central Highlands have completed the collection of this year’s crop, only the pepper areas of the Central Coast region have about 2 months left to harvest. .
According to a report of the Agriculture industry, April exports are estimated at 17,000 tons of pepper of all kinds, with a turnover of 116 million USD, bringing the export volume of pepper in 4 months to 48,000 tons with an export value of 326 million USD, up 15.5% in volume and 54.2% in value over the same period last year. Export price of pepper increased sharply due to limited supply, the average price in 3 months reached 6,821 USD/ton, up nearly 39.34% over the same period last year. Consumption increased quite well in most of the main markets.
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