This is the 3rd successful delivery of goods since February 2012 when SMX brought 550 gr / l black pepper, a popular favorite among Southeast Asian pepper producing countries, to the trading floor. .
Closing the first session of the week, Monday 3/9, futures price on NCDEX in Kochi-India decreased slightly. September deliveries decreased by Rs 190 to Rs 41,185 a quintal, equivalent to US $ 7,944 and delivered in October also fell by Rs 105 to Rs 42,500 a quintal, equivalent to US $ 7,641 per ton. (1 USD = Rs 55,6203)
Spot pepper prices in tandem with the trend of the futures market decreased slightly by Rs 200 to Rs 38,800 a quintal, equivalent to USD 6,976 per ton for pint and 40,300 Rs / quintal, equivalent to USD 7,246 per ton for pepper. choose.
According to some Indian traders, the amount of spot pepper traded through the floor has decreased sharply because the supply from local localities is almost exhausted and prices are high, so buyers also hesitate and seek supply from imported. While Indian Malabar pepper is a favorite brand of European and American customers, it is still very expensive.
However, the export volume of India continues to be limited because the price is still 800-1,200 USD / ton higher than that of other exporting countries.
As a result, foreign importers leaving India look to pepper producers such as Indonesia and Brazil to place orders because these countries now have ample supplies at lower prices, Indian traders said.
Meanwhile, the price of pepper futures on Singapore Mercantile Exchange (SMX) in recent days increased sharply. Closing Monday, September 3, September delivery stood at 6,415 USD / ton and October delivery at 6,408 USD / ton, up over 200 USD compared to last week.
On August 30, Singapore Mercantile Exchange (SMX) announced that an additional 45 tons of pepper from August contract had been delivered and delivered in a bonded warehouse in Binh Duong province. This is the 3rd real delivery of goods which has been successfully carried out since February 2012 when SMX brought the black pepper grade 550 Gr / l, the popular favorite of pepper producing countries in Southeast Asia, on the floor. forward transaction.
The market also expects that SMX will contribute to bring pepper as well as agricultural products in Southeast Asia directly to importers.
The price of Vietnamese black pepper exported at grade 500g Gr / l-FAQ was offered at US $ 6,300-6,350 per ton and 550 Gr / l-FAQ grade was quoted at US $ 6,600-6,550 per tonne (FOB). Brazilian black pepper offers price of grade US $ 6500 / ton and B2 US $ 6,400 / ton, (FOB).
While India's MG1 specifier on the international market is priced at US $ 7,800 per tonne (C&F) for European deliveries and US $ 8,100 per tonne (C&F) for US shipments.
White pepper of origins increased marginally by USD 50-100. Specifically, Vietnamese white pepper grade 630 Gr / l-FAQ offered at USD 9,100-9,150 per tonne and DW 630Gr / l white pepper at USD 9,250-9,300 per tonne (FOB). Indonesian white pepper of Muntok-FAQ price is 8,900-8,950 USD / ton, (FOB), while Kuching Malaysia white pepper is 9,400 USD / ton, (FOB).
The market recorded stronger activity after the Muslim holiday and European and American buyers sought supplies for the upcoming winter.
Traders in the Southeast region said that the purchasing demand from companies started to increase but the number of farm products to the market was very small because they were waiting for a better price.
This morning, September 4, domestic prices of black pepper increased slightly. Specifically, in Ba Ria-Vung Tau cost 126-127 thousand VND / kg, Binh Phuoc 124-125 thousand VND / kg and the Central Highlands provinces 122-123 thousand VND / kg, a slight increase of 1-2,000 VND / kg compared to with last week.
Source English (TTVN / CafeF)
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