This afternoon, August 11, the price of pepper in Ba Ria-Vung Tau is likely to increase to 118,000 VND/kg.
On the same day that the domestic price of pepper in Ba Ria-Vung Tau was purchased by traders, pushing the price up to 116,000 VND/kg, thanks to the previous sessions, the futures price of pepper was stable at a high level, the world pepper price in the market. Kochi-India futures ended with a plunge. Futures for delivery in August decreased by Rs 1,030 to Rs 28,290 per quintal, equivalent to $6,294 per ton. Similarly, September and October futures fell by Rs 972 and Rs 842, respectively, to Rs 28,832 per quintal and Rs 29,316 per quintal, equivalent to $6,414/ton and $6,522/ton.
In the following days, pepper futures prices alternated with erratic ups and downs, but the uptrend was still dominant. This shows that the impact of the US public debt crisis and the European recession seems to have nothing to do with the pepper market.
Many commentators said that, because the pepper market is so small and located in a hidden corner, the tornado of crisis and recession was missed, but it is certain that pepper is an essential spice, so it still grows steadily. determined.
This morning, August 11, the price of pepper in Ba Ria-Vung Tau was 117,000 VND/kg, confirmed by traders as buying and waiting because the futures market last night ended with a strong growth session. . Futures for August, September, and October increased by Rs 1,149, Rs 1,169 and Rs 1,150 respectively to Rs 29,870 per quintal, Rs 30,384 per quintal and Rs 30,787 per quintal, equivalent to $6,645/ton, $6,760/ton and $6,849 /ton.
According to traders, if this increase continues, by the end of the week, the domestic price of pepper will re-establish the milestone of VND 120,000/kg, which is the high mark that pepper growers have been waiting for 4 months.
Meanwhile, export pepper prices in recent days have not changed significantly.
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