This is something that has never happened to the world pepper market. Vietnam is currently running out of goods and it will take until March to harvest a new crop.
Closing the early closing session of the weekend, Saturday, December 17, the pepper futures market, in Kochi-India, continued the rally that extended for a seventh session for December delivery, with a total increase. Rs 2,510, or 7.11% increase, to Rs 37,805/quintal, equivalent to USD 7,158/ton (1 USD = Rs 52.8099).
At the same time, the January delivery term increased only Rs 1,070, or 3.09 percent, to Rs 35,700 per quintal, equivalent to $6,760 per ton. While spot pepper increased by Rs 1,596, or 4.59%, to Rs 36,353 per quintal, equivalent to $6,883 per ton.
According to observers of the world pepper market, Vietnam, the number 1 exporter of pepper at present, has run out of stock. Due to high export prices at the end of the year, our country’s traders boosted exports and completed the 2011 plan earlier than expected. This makes the demand for real goods for this year’s holiday season more stressful, forcing importers to raise the price of pepper for spot and delivery in December to attract stocks to the market. This is also something that has never happened to the world pepper market.
Also according to observers, from now until Vietnam has a new crop, around the end of March, the supply from Kerala India will start to be available at the end of December, only to quench the thirst temporarily.
The increase in pepper prices on the exchange only helps Indian pepper growers to benefit in the short term, so spot pepper prices will be pushed up even more.
The International Pepper Association (IPC), in its forecast of world pepper production in 2012, affirmed that the world will continue to have a shortage of pepper, and the rapidly increasing new planting area in some countries can help quench thirst. .
The domestic price of bucket pepper in Ba Ria-Vung Tau still remained at 130,000 – 132,000 VND/kg, although down more than 20,000 VND compared to the record high, it is still a very high level compared to every year, the transaction is not significant.
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