This morning 10/2, the price of black pepper bucket in Ba Ria-Vung Tau was purchased by traders for 121,000-122,000 VND, up 10% within 1 month after the new crop was put on the market.
Closing the session on Wednesday, February 8, pepper futures prices on India’s NCDEX exchange remained in a downtrend. Futures for delivery in February stood at Rs 29,510 / quintal, equivalent to USD 5,997 / tonne and term for delivery in March stood at Rs 29,510 / quintal, equivalent to USD 6,046 / ton. ( 1 USD = 49.2094 Rupees ).
Meanwhile, the spot price of pepper still stood at Rs 31,000/quintal, equivalent to USD 6,300/ton, continuing to maintain a higher gap due to real demand. This also helps explain why, although at the beginning of the crop, domestic pepper prices in Vietnam soon heat up.
During a survey at the end of 2011 organized by the Vietnam Pepper Association (VPA), in order to initially grasp the production situation, productivity, and harvest output of the 2012 pepper crop, the survey team had a bad view. optimistic, if not pessimistic about this year’s pepper crop.
And in order to have a more complete and accurate assessment, comment and forecast on pepper crop production in 2012 nationwide, VPA will continue to organize a survey team, right after the Lunar New Year, in key pepper growing provinces such as Binh Phuoc, Dak Nong, Dak Lak and Gia Lai.
According to the Ministry of Agriculture and Rural Development, the ministry forecasts that the country’s pepper exports in 2012 will reach nearly 86,000 tons, earning nearly US$619 million, down 30% in volume but only 16% in price compared to last year. 2011.
At present, in the key pepper growing provinces, farmers simultaneously harvested the early ripening season of 2012 with a lively spirit in the context of high black pepper prices. However, to process white pepper, the source of goods is usually obtained from the second harvest of pepper, mainly Vinh Linh pepper variety, around the beginning of the third lunar month.
It is known that from February 10, the black pepper futures contract will be listed on the Singapore Exchange (SMX – Singapore Mercantile Exchange). The source of goods will be taken from a bonded warehouse in Vietnam – the world’s largest pepper producer and exporter.
In addition, pepper contracts on the SMX exchange can provide a benchmark price for this commodity worldwide if liquidity is good.
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