The output of Indonesia and Malaysia is not as expected due to the neglect of the orchard by farmers, and they also do not have the psychology of hoarding the goods after harvest, so it seems that Chinese traders are returning to the Vietnamese market. South to increase buying.
Today Wednesday, September 26, the price of black pepper in major producing regions in the country increased by 1,000 VND / kg, ie an increase of 2,000 VND / kg compared to the price at the end of last week. Specifically, the price of black pepper in Ba Ria – Vung Tau was 53,000 VND / kg, in Binh Phuoc and Dak Lak 52,000 VND / kg, while in Gia Lai it was the lowest at 51,000 VND / kg. According to local traders, prices want to inch up further due to buying demand from exporters.
Meanwhile, yesterday on September 25, the price of black pepper in Kerala, India also increased by 1,000 rupees to 32,500 rupees / quintal (equivalent to 4,463 USD / ton) and specialty pepper in Pulpally in the district of Wayanad – Kerala was traded for Rs 36,000 / quintal (equivalent to 4,944 USD / ton) but the supply is very dripping due to heavy losses in the “unprecedented” flood last month, so far it has not been statistically recorded. Traders in the area estimated the damage to the next crop could be about 20,000-25,000 tons.
On the NCDEX commodity floor at Kochi, the price of pepper for October delivery increased by 220 rupees, to 40,705 rupees / quintal (equivalent to 5,590 USD / ton) and futures for delivery in November increased by 225 rupees, to 40,990 rupees / weights (equivalent to 5,629 USD / ton), an increase of 125 USD compared to a week earlier.
On the contrary, even though the harvest has just been completed, the pepper output of Indonesia and Malaysia this year is not as expected because the farmers of two pepper exporters, officially members of the IPC, neglect the orchard and do not care for the price. short. Farmers also do not have the habit of stockpiling, so they sold immediately after harvest while pepper trading companies were still “not strong” after stockpiling the previous crop.
Perhaps because of this, Chinese traders began to return to the Vietnamese market, pushing up the price of black pepper. However, the price of white pepper delivered at the processing factories in the Southeast remained stable at VND 76,000 – 77,000 / kg, but buyers have not yet seen excitement.
However, the pressure on world pepper prices is increasing when Brazil starts to harvest the new pepper crop this year, with the forecast of a “huge” increase due to the continued expansion of newly planted acreage in Brazil. in recent years, investment is arguably the lowest in pepper growing countries.
* According to the report of the General Department of Vietnam Customs, exports in the first half of September 2018 reached 8,569 tons of pepper of all kinds, with a turnover of $ 24.61 million, up 5.93% in volume but down 34, 65% in value over the same period last year. Average export price in the period reached 2,872 USD / ton, down 2.15% compared to the average export price in August 2018.
* Exchange rate: 1 USD = 72,8134 rupees
According to the English (Young Intellectual / CafeF)
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