This morning, August 17, pepper prices have surpassed 124,000 VND / kg to reach higher levels this week.
On Saturday afternoon, August 13, domestic pepper prices in Ba Ria-Vung Tau stood firm at 120,000 VND / kg while world pepper prices in the weekend session increased. Therefore, on Sunday, August 14th, traders pushed the price to 122,000 VND / kg and increased purchasing. Sales of garden houses also increased significantly.
On Monday 15/8, the selling power has decreased. A trader said that the stockpile of people has shown signs of exhaustion after this sharp increase. While India's traditional Rakshabandhan holiday futures market,
On Tuesday, August 16, the world pepper market had a week's first session of price hike. At the end of the session, the delivery term for August, September and October increased respectively Rs 1,177, Rs 1,226 and Rs 1,266 to Rs 30,976, Rs 31,666 per quintal and Rs 32,016 per ton, equivalent to USD 6,891 per ton, USD 7,045 per ton. and 7,123 USD / ton, setting a new record for pepper price in the futures market.
At that time, the price of pepper at the Ba Ria-Vung Tau market also set a new record of 15 years at 124,000 VND / kg for Vietnam pepper prices, as predicted.
When asked why the price of pepper in Ba Ria-Vung Tau is usually higher than other areas from 2,000-5,000 VND / kg, exporters, traders and agents all agree that pepper here is very After being processed, the quality of grain recovery is much higher than that of pepper grown in dry and low climates.
World pepper prices are booming because of increasing demand when the Muslim fasting month comes. Analysts said limited supply from major producing countries and rising demand in the spot market were the main drivers of price increases.
On the export market, Indian pepper often has competitive prices compared to prices of many countries. Because of the limited supply of this country, buyers have come to our country to push pepper prices up. Average export price increased 250-400 USD / ton depending on the type compared to the beginning of the month.
Earlier this year the International Pepper Association (IPC) made a prediction, the global market will continue to lack nearly 45,000 tons in 2011, compared with 53,000 tons of the previous year. The Vietnam Pepper Association (VPA) also said that the domestic price of black pepper is likely to increase to 110,000 – 120,000 VND / kg, the export price is also more than 6,000 USD / ton of black pepper and 8,000 USD / ton of white pepper. .
The reality shows that the fluctuations of commodity prices in all world markets recently have pushed VPA's comments into reality soon.
However, it is necessary to recall the lesson of 2008, the price of pepper has been rising and leaving the owners, including gardeners and business companies, a lesson to remember. In 1996, prices of domestic pepper also increased by VND 140,000 / kg when world prices increased to over 7,800 USD / ton.
According to the July statistical report of Customs, our country has exported 13,168 tons of pepper of all kinds with a turnover of US $ 78.466 million.
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