This morning June 13, the price of bucket pepper in the Southeast region has increased to 110,000-111,000 VND/kg and in the Central Highlands lower than 1,000 VND/kg, the same price as on April 7.
In the last Saturday session of the week, pepper prices in the world market have re-established a record when surpassing the mark of Rs 30,000/quintal to stand at Rs 30,293/quintal and Rs 30,170/quintal for the near term. June and July.
Although the domestic price of pepper has increased again, the market is quiet. Many traders said that if they don’t really need money to spend, farmers still hold the goods. They wait for the price of 120,000 VND/kg to re-establish or maybe even higher before letting go.
It is worth noting that when the domestic price of pepper in buckets reached 110,000 VND/kg on April 7, the world pepper price also reached the milestones corresponding to the two near futures of Rs 25,812/quintal and Rs 26,271/. But today, June 13, when the domestic price of pepper hit the mark of 110,000 VND/kg, the world price of pepper was approximately Rs 4,000/quintal, equivalent to over 900 USD/ton ahead.
Comparing to see that the gap between world pepper price and domestic bucket pepper price at two points in time is very significant. This is also the reason why pepper farmers in our country still hold their goods and have not yet sold them.
It is also worth recalling that in 2008 the price of pepper used to be high and it left a life lesson for buyers, including growers and trading companies. In 1996, the domestic price of pepper bucket also increased by over 140,000 VND/kg when the world price increased to over 7,800 USD/ton.
Recently, exporters are increasing sales of black pepper 500gr/l at the price of 4,950-5,000 USD/ton (FOB), while the 550gr/l grade has not been traded.
In 2010, Vietnam exported 111,861 tons of pepper of all kinds, reaching a turnover of 421 million USD, up 15.7% compared to 2009, accounting for 47% of the world pepper market share and continued to maintain its position as a powerhouse. 1 of the world in terms of pepper exports.
The plan of the Ministry of Industry and Trade this year Vietnam strives to export 120,000 tons of pepper of all kinds, worth $470 million. Compared to last year, this indicator only increased by 3% in volume but increased by 12.1% in value thanks to higher export prices this year.
Thus, with 36.81% of turnover value and 53.33% of volume need to strive for the remaining 7 months, surely Vietnam’s pepper industry will reach the finish line as soon as last year.
However, according to market technical analysts, this rally has no basis to last.
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