The world pepper price will increase due to the long Tet holiday in Vietnam, reducing the quantity supplied to the market.
In the first three trading days of the week, world pepper prices on NCDEX in Kochi-India rebounded after falling at the end of last week.
Futures for delivery in January increased by Rs 620, accounting for 2.03%, to Rs 31,225 per quintal, equivalent to USD 6,157 per tonne and term for February delivery increased by Rs 850, accounting for 2.74%, to Rs 31,830 per quintal, equivalent to Rs 850 per quintal. equivalent to $6,276/ton. Spot pepper price also increased by Rs 120, accounting for 0.4 %, to Rs 31,650/quintal, equivalent to USD 6,240/ton, a slight increase. (1 USD = 50.7158 Rupees).
However, the spot price of pepper still remained high due to the fact that the exchange rate of the Indian Rupee has been maintained at a high level for the past 3 months.
According to the director of a pepper exporting enterprise in Ho Chi Minh City, it seems that the world pepper price will increase due to the long Tet holiday in Vietnam, reducing the supply to the market.
When asked about sources from abroad, black pepper is currently offered at a very low price. This person analyzed, they themselves said that Vietnamese pepper prices dominate the world pepper prices, so we are not foolish to sell cheap. Due to world pepper prices going up and down according to the Indian floor, it is very erratic, so exporters only bid within 2 days to adjust. The specific price of pepper depends on what kind of goods are exported.
Yesterday afternoon, January 19, black pepper was traded in Ba Ria-Vung Tau for 113,000-115,000 VND/kg, an increase of 4,000-5,000 VND/kg for both old and new crops. However, according to traders, the number of new crops brought to the market cannot be said to be abundant because many growers are not in a hurry to sell.
India’s export pepper special grade MG1 to the EU is priced at 6,350 USD/ton and to the US is priced at 6,650 USD/ton, (C&F), maintaining a very competitive price. Vietnam’s export black pepper grade 500 Gr/l-FAQ is offered at USD 5,850/ton, grade 550 Gr/l-FAQ is priced at USD 6,250/ton, FOB, while black pepper grade 500 Gr/l-Asta goes to the US. at $6,500/ton (C&F), the same price as two weeks ago.
According to Customs statistics just announced, December exports reached 3,282 tons of pepper of all kinds with a turnover of 25.43 million USD, though down 24.6% in volume and 22.6% in value compared to the previous year. last month, but it brought the whole year 2011 pepper export to 123,808 tons of all kinds with a turnover of USD 732.2 million, up 5.9% in volume and 73.8% in value over the same period. period of the previous year.
The average export price of pepper in December reached 7,748 USD/ton, which is the month with the highest average price of the year.
In 2011, major markets such as the US imported 23,066 tons, the UAE imported 12,310 tons, Germany imported 10,319 tons and the Netherlands imported 8,416 tons of pepper of all kinds, still traditional markets accounting for 51.34% of the export market share of nuts. consumption of our country.
Pepper exporting countries also imported pepper from our country such as India, which imported 6,696 tons, Indonesia, 1,143 tons, Malaysia, which imported 768 tons of pepper of all kinds.
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