In just one week, black pepper prices on the world market have increased by about 8-9%.
Unfavorable weather in the harvest, Chinese customers actively buying Vietnamese pepper and limited supply from Brazil, Indonesia and India are supporting the price of pepper continues to rise.
World pepper market continues to be hot, with prices increasing in most producing countries.
In just one week, black pepper prices on the world market have increased by about 8-9%.
At this time in India, both pepper growers and local pepper buyers keep the goods. Only a handful of people in Karnataka sell. Offering price in India was around Rs 233-235 / kg.
Off-season rains in India during the period of October to December 2010 will certainly reduce production this year. On the Indian domestic market, the price for pepper now amounted to US $ 3 / kg. The export price of pepper was up to USD 5,375 / ton.
On the buyers side, many customers have psychologically delayed buying. They expect prices to fall when Vietnam is in full swing. But recent prices of Vietnamese pepper have increased. At the moment, pepper price in Vietnam is close to 100,000 dong / kg. Export prices in Ho Chi Minh City increased by 2% last week to VND 90,500 / kg. Export price of black pepper increased by 10% to USD 4,550 / ton (500 g / l) and USD 4,950 / ton (550 g / l), (FOB).
In Indonesia, the wet weather in Lampung pushed prices up from Rs 37,000 to Rs 38,500 a kg. Prices at Sarawak also increased by 1%.
In Brazil, domestic black pepper prices were stable at 7.75 Real / kg. In dollar terms, the price increased by 1%, with ASTA increased from 5,250 USD / ton to 5,500 USD / ton.
White pepper prices in markets also increased marginally. Prices at Banka increased by 3% last week, while prices in Hainan increased by 2%.
Reportedly, the world's total consumption of pepper last year was 320,000 tons, the average annual increase in demand of 5%. Thus the world's total demand this year will be about 335,000 tons. But world pepper output this year is forecast at 257,000 tons, down 33,700 tons from last year. The number of reserves is 40,000 tons, bringing the total supply this year to 297,000 tons. Generally, the world still lacks 38,000 tons. The imbalance between supply and demand is the reason why from the beginning of last crop until now, the price of world pepper has grown continuously.
World Pepper Association (IPC) expected, India's output this year at only 48,000 tons, down 2,000 tons from the previous crop. Output of Brazil and Indonesia also decreased slightly and the output of China this year remained unchanged. Meanwhile, pepper production of major producing countries, except Vietnam, has decreased dramatically.
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