India, the world’s No. 2 pepper producer and exporter, has entered the list of top 5 major pepper import markets of our country.
After a sharp decline at the end of last week, the world pepper market had two remarkable growth sessions at the beginning of the week. Futures for delivery in December 2011 and January and February 2012 increased by Rs 265, Rs 115 and Rs 95 to reach Rs 35,115 per quintal, Rs 34,910 per quintal and Rs 34,915 per quintal, equivalent to $6,727 per ton , 6,688 USD/ton and 6,689 USD/ton.
The spot price of pepper also rose to Rs 34,617 per quintal, an increase of about 30 USD per tonne compared to the previous week.
This morning, December 1, the price of black pepper in Ba Ria-Vung Tau market increased to 144,000 VND/kg, an increase of 4,000 VND/kg compared to the lowest price of the previous week. Other domestic markets are less than 5,000-7,000 VND/kg.
Movements in the Kochi-India futures market during the past week showed that the main transactions were near-month contracts, so the matched price of December was higher than the remaining months. This is a measure to entice real goods to participate in the market to meet the increased consumption demand at the end of the year of investors.
The latest report of the Customs shows that in the first half of November, our country only exported 1,975 tons of pepper of all kinds with a turnover of 14.66 million USD. Accumulated from the beginning of the year to November 15, exporting 117,854 tons of pepper of all kinds with a turnover of $687.2 million, an increase of only 9.17% in volume, but an increase of 81.88% in value. turnover compared to the same period of the previous year.
The average export price of pepper in the first half of November reached $7,423/ton, an increase of $284/ton compared to the average export price of pepper in October. The higher average price reflects the world’s pepper supply in general. and our country in particular are increasingly exhausted and confirm that world pepper prices will increase at the end of the year as predicted.
India, the world’s No. 2 pepper producer and exporter, has entered the list of top 5 major pepper import markets of our country. This further affirms that Vietnam is the world’s No. 1 pepper exporting power today.
The 39th annual meeting of the International Pepper Association (IPC) is taking place in Indonesia, bringing the issue of slow-dead epidemics that have wiped out many pepper growing areas in the world to the table.
It is forecasted that the export price of pepper in December will continue to grow due to the higher consumption demand of the upcoming wedding season, Christmas and New Year holidays.
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