As expected, after the fasting month of Ramadan and Muslim festivals, the global pepper market began to heat up, spurring the domestic market of pepper producing countries to grow quickly.
It is known that during the Lent month, people in Muslim countries around the world consume 2.5 times more food than usual, of which pepper spices are indispensable.
Yesterday, September 7, the price of black pepper in Ba Ria – Vung Tau jumped to 131-132 thousand VND / kg, in Dong Nai – Binh Phuoc 129-130 thousand VND / kg and in the Central Highlands provinces of 126-127,000 VND / kg, the difference is 2-3 thousand VND / kg.
Over the past 30 days, domestic pepper prices have increased by approximately VND 10,000 / kg. Particularly Ba Ria – Vung Tau, the locality with the most competitive price in the domestic market in our country, in the past 7 days has increased by 7,000 thousand VND / kg, a rare increase.
At this time, pepper traders from all over the world flock to Indonesia and Vietnam to find sources of goods, while production of Brazil and india are collected mainly for domestic consumption. Moreover, the export price of Indian pepper is currently at a very high level, approximately 20% higher than that of other origins.
Indonesia has just completed the harvest this year with expected yields of 50,000-55,000 tons compared to 42,000 tons previously estimated, according to S Kannan, executive director of the International Pepper Association (IPC). Headquarters based in this country said.
In Vietnam, the largest producer and exporter of pepper in the world, it is estimated that more than 40,000 tons of pepper harvested in this year's crop are being held by farmers, and they only sell when prices are high. more appropriately, according to the recent opinion of Vietnam Pepper Association (VPA).
According to forecasts from the beginning of the year of the International Pepper Association, world pepper output in 2012 will increase by 7.3%, to 320,155 tons, compared to the output of 2011. The output increased mainly from countries. The world's leading pepper producer, is a member of IPC such as Vietnam, Indonesia, Malaysia …
According to Reuters data in recent years, the world is in shortage of 35,000-40,000 tons of pepper each year, this figure will not be easily offset in the near future.
In the past 3 years, world pepper prices have continuously increased, higher year after year. As a result, our country's pepper farmers now earn the highest profits among crops and the increasing area of pepper rapidly disrupts the planning of the Agriculture sector at an alarming rate.
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