This afternoon, December 5, the price of black pepper in Ba Ria-Vung Tau returned to reset the mark of VND 140,000/kg.
In the last two trading sessions of the past week on the Kochi-India exchange, the world pepper price dropped sharply. Futures for delivery in December 2011 and January and February 2012 respectively lost all of Rs 355, Rs 410 and Rs 305 to Rs 35,110 per quintal, Rs 34,880 per quintal and Rs 34,765 per quintal, equivalent to $6,726. /ton, $6,682/ton and $6,660/ton.
Spot pepper also lost Rs 361 to Rs 34,763 per quintal, still at a very high level.
This afternoon, December 5, the price of black pepper in Ba Ria-Vung Tau returned to reset the mark of VND 140,000/kg following the downward price trend of the world trading floor.
Many traders commented that this price makes the domestic pepper market even quieter, partly because the supply of pepper in the people has been exhausted, and the part in the hands of speculators does not sell at low prices.
During the past week, the most people bought just over 1 quintal thanks to their acquaintance, and many people could not buy any seeds, another trader said.
According to the writer’s observations, for about 10 days now, there are no longer pepper importers, some agents have closed temporarily, the rest have switched to buying coffee according to the orders of seasonal speculators.
According to the International Pepper Association (IPC) forecast, the 2012 pepper crop in Vietnam will achieve an output of 140,000-150,000 tons of pepper of all kinds, continuing to hold the position of the world’s No. 1 pepper exporter.
Currently, the world pepper importers are waiting for Vietnam’s new crop to come to market in February next year. While at the end of this December, a new crop of Indian crops was brought to the market, but the quantity was not strong enough to relieve the supply pressure.
Traders said that Vietnam’s inventory is about 5,000-10,000 tons of pepper. This number will be launched on the market on New Year’s Eve if the price proves to be more reasonable.
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