World pepper market from the beginning of the month until now continues the strong dropping trend because of the influence from Vietnam market. Domestic pepper prices plummeted from a peak of 150,000 – 160,000 VND / kg to 136,000 – 140,000 VND / kg.
Peppertrade sources quoted international experts as saying that Vietnam's pepper export in the first 10 months of this year reached a record of 120,000 tons, causing a sharp decline in the world pepper market.
Vietnam's 500 Gr / l-FAQ pepper export price was 6,900 – $ 7,300 / ton, 550 gr / l-FAQ grade was $ 7,600 / ton, down $ 600-700 compared to the peak of this time. 1 month.
Black pepper in Ba Ria – Vung Tau is currently about VND 20,000-30,000 / kg lower than the peak, about VND 136,000-140,000 / kg. Many hoarders are starting to discharge, fearing prices may drop further.
Decreasing prices on the FAQ 500 GL and 550 GL of Vietnam have impacted on the global market. In India, the price gap between November and December futures caused a sell-off phenomenon. conversion of term, plus the pressure from the Vietnamese market made Indian pepper prices fall sharply.
The rainy season has begun in northeastern India, where there are large pepper farms, and the harvest there is sure to be slowed down, possibly preventing the trend from falling. Indian pepper growers have begun to become disappointed to see prices fall for a long time, although demand in foreign markets is still relatively strong.
Since European markets have encountered some problems arising from the debt crisis, many importers prefer to find cheaper Vietnamese pepper than the Indian one with a higher price. However, some customers still prefer Indian pepper.
Global pepper market is forecasted to continue in a pulling trend, due to sales of reserves from Vietnam and the eurozone sovereign debt crisis.
In addition, Vietnam's interest rate cut policy also has a significant impact on recent and upcoming price trends.
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