The festival month of Islam has just ended, many buyers have come to our country to look for supplies.
Ending session on 23/8, futures prices on NCDEX on Kochi Indian market continued to weaken. Prices for delivered periods in September, October and November closed respectively at Rs 41,785 / quintal, Rs 42,395 / quintal and Rs 42,755 / quintal, equivalent to USD 7,512 / ton, USD 7,621 / ton and USD 7,690 / ton, respectively. , down by approximately 2.6% over the last 30 days.
The reason for the decline is that Indian pepper futures prices have been speculated, pushing prices up too high, so many times the Indian Futures Market Committee (FMC) had to voice the adjustment to return prices to a more reasonable level.
The spot price of Indian pepper in parallel with the futures market decreased to Rs 38,900 / quintal, equivalent to USD 6,993 / ton for pint and 40,400 Rs / quintal, equivalent to USD 7,263 / ton for the selected type, ie, approximately 4.6% in the same period. However the supply is also very limited, almost only dripping. (1 USD = 55,6278 lakhs)
Pepper traders in the world also left the Indian market to find low-price sources from other origins because they think that pepper price of this country is too high.
While the Muslim countries in Ramadan should almost not participate in the market, the negative impact of the world economic downturn on the remaining markets makes the consumption of pepper in particular and agricultural commodities. Other products also plummeted.
At the same time, the pressure of supply also decreased when Brazil and Indonesia, the two major pepper producing countries of the world, harvested and brought new crop to market.
Pepper market of our country in recent years is also quiet, purchasing power of export traders is almost no, so prices fluctuate only slightly.
The festival month of Islam has just ended, many buyers have come to our country to look for supplies. Some traders from India and Thailand said that listening to our supply is plentiful so they hope to get affordable prices while freight costs increasingly expensive.
Vietnam's export price of black pepper grade 500g Gr / l-FAQ was offered at US $ 6,400-6,450 and ton 550 Gr / l-FAQ offered at US $ 6,700-6,750 / ton, (FOB), up US $ 350-400 compared with the previous month.
While white pepper grade 630Gr / l-FAQ offered $ 9,050-9,100 / ton and white grade DW 630Gr / l offered $ 9,200-9,250 / ton, (FOB), up 100-150 USD compared to the previous month.
Indian parity in the international market remained at US $ 7,800 per tonne for Europe (C&F) and US $ 8,100 per tonne for the US (C&F), down by US $ 300 but still much higher than that of other pepper. Other origins.
Meanwhile, the price of pepper futures on Singapore Mercantile Exchange (SMX) was recorded to start warming. Closing yesterday, August 23, the delivery term in September stood at 6,187 USD / ton and the delivery in October stood at 6,210 USD / ton, a slight increase but still not reasonable compared to the Indian futures. .
At noon today, August 24, the price of pepper at Ba Ria-Vung Tau was VND 123-124 thousand / kg, Binh Phuoc 122 thousand VND / kg and the Central Highlands provinces 119-120 thousand VND / kg, an average increase of 2,000 VND VND / kg compared to the previous month. Market shows signs of warming.
The Central Coast pepper area in 2012 harvested pepper nearly completed, but the production did not reach as expected because the pest caused quite a lot of pepper loss.
Source English (TTVN / CafeF)
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