A rare thing in the market is that the spot price of pepper is more expensive than the futures price. This is good news for early harvest producers, at a time when the world market is running out of real stock.
In the first trading week of the new year, the world pepper price on the NCDEX floor in Kochi India dropped continuously because it took place in a gloomy atmosphere, without both buyers and sellers. In total, the terms of January, February and March, respectively, decreased by Rs 1,485, Rs 1,190 and Rs 865, respectively, down 4.47%, 3.58% and 2.62%, respectively, to Rs 31,700/quintal, Rs 32,080. /quintal and Rs 32,200/quintal, equivalent to USD 6,014/ton, USD 6,086/ton and USD 6,109/ton. ( 1 USD = 52.7079 Rupees )
The spot price of Indian pepper special grade MG1 though also decreased by Rs 1,078, accounting for 3.22%, to Rs 32,429/quintal, equivalent to USD 6,152/ton, but still at a higher level than futures, which is rare. found in the futures market.
According to technical analysts on the floor, the futures price movement shows that although it has cooled down, the demand for the commodity is still high, which has pushed the futures prices up from here until the Indian pepper farmers shake hands. harvest season (from the end of December to March every year) and after about a month is the crop of Vietnamese farmers, the two largest pepper producing and exporting countries in the world.
Currently, the spot price of pepper is higher than the futures price, which will help Indian pepper growers benefit because other pepper producing and exporting countries have run out of stock.
The domestic price of black pepper in the first week of 2012 fluctuated in the range of 125,000-130,000 VND/kg and there were only small transactions.
According to news from gardeners in Chau Duc, Ba Ria-Vung Tau, the district with the largest pepper growing area in our country, pepper growers are starting to harvest the early ripening pepper of the new pepper crop in 2012 and will bring it to fruition. to the market in the near future.
The Ministry of Agriculture and Rural Development expects that the export volume of pepper in 2012 may decrease by about one third compared to last year, estimated at nearly 86 thousand tons; the turnover value was only about 619 million USD, instead of 736 million USD, due to the decrease in domestic supply.
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