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