Pepper prices this year of continuous growth almost have no stops.
After the session on 28/4, pepper prices decreased slightly on Kochi-India, but over the next 2 days, April 29 and 30, the price of pepper futures rebounded, setting a new record. .
In 2 days, the total increased respectively Rs 690, Rs 726 and Rs 869 to Rs 29,069 / quintal, Rs 29,670 / quintal and Rs 30,187 / quintal, equivalent to USD 6,549 / ton, USD 6,684 / ton and USD 6,800 / ton for May, June and July terms.
Thus, the world pepper price has far exceeded the record price of Rs 265 / kg and Rs 275 / kg set from November 1, 1999 to set a new record, at Rs 290 / kg and 296 / kg. , and the destination is Rs 300 a kg for spot and short-term pepper prices.
On the futures market, pepper prices this year of continuous growth almost have no stops. This is in line with analysts' expectations, following the market because supply of world pepper is in short supply, but the growth also shows that this year the world pepper market has issues of concern.
The first concern is the increasing consumer demand but the supply is not keeping up. According to statistics, this year world consumption increased by about 5% compared to 320,000 tons in 2010. While the total supply is only about 297,000 tons, ie the world shortage of about 33,000 – 35,000 tons.
Also of concern is the general inflation of the world in commodity prices, in which the prices of agricultural products are more serious. Due to the impact of climate change affecting crop yields, the source of agricultural products decreases, the supply does not keep up with demand, making the price of world agricultural products constantly rising. Pepper prices are under the same influence.
At the beginning of 2011, Vietnam Pepper Association (VPA) has carefully proposed that this year, the world will lack of pepper and our country will benefit when the price of black pepper exported at the end of the season is likely. will reach 6,000 USD / ton.
By the end of the first quarter, VPA has forecast that the domestic price of black pepper will likely increase to 110,000 – 120,000 VND / kg, the export price will also increase to more than US $ 6,000 / ton of black pepper and US $ 8,000 / ton of white pepper, but The association did not say at what time.
It can be affirmed that the evolution of both domestic and world markets has exceeded all expectations. On 13/4, the price of black pepper in the country has increased to 120,000 VND / kg, in the context of a day earlier the world medium-term price of pepper has exceeded 6,000 USD / ton.
Currently, our country's export price of pepper is being offered at US $ 5,950 / ton for the 500 Gr / l FAQ and the price is 6,350 USD / ton for the 550Gr / l FAQ, while the clean white pepper is priced at US $ 8,450 / ton, FOB.
Special grade Indian pepper MG1-ASTA is priced at USD 6,700 / tonne, FOB. Brazilian pepper for export of Brazil grade1 costs 6,200 USD / ton, Brazilian grade 2 costs 6,100 USD / ton and Brazilian-ASTA price is 6,300 USD / ton, FOB. Indonesian pepper grade MG1-ASTA also cost 6,300 USD / ton, FOB.
The price of pepper in the country decreased slightly to VND 108,000 / kg but the market was almost inactive. All promises are waiting for the holiday of the reunification of the country 30/4 and Labor Day 1/5 extended over 2 days of the beginning of next week.
Follow CafeF
Source link
