Although the supply from Indonesia has launched to help improve the situation, but the price of pepper suddenly increased by nearly 5% this week.
Closing the weekend session on the afternoon of June 11, the world price of pepper in the Kochi-India market increased sharply to Rs 30,293 / quintal and Rs 30,170 / ton, equivalent to USD 6,762 / ton and 6,734 USD. / ton for June and July term.
In the past week, the world pepper price in June increased by Rs 1,103, equivalent to 246 USD, or 3.9% and July term increased by Rs 1,346, equivalent to USD 300, or 4,7%, an increase It is very unexpected beyond the professional's expectations.
After more than 10 days of quiet trading, the first session of the week showed signs of prosperity, but the world pepper market has not seen specific signs, so the price is almost unchanged.
Information on Indonesia's export volume in the first 4 months of 2011 still increased by over 54% compared to the same period last year, proving that the country's stockpiles have been released to the market.
At the same time, information about Indonesia, Malaysia and Brazil will be harvested from the end of June to the end of August, with the forecast of their productivity declining sharply compared to the previous year, will not affect the market in the short term. term.
But in the long run, the supply of pepper is still worrying when the supply has not kept up with demand.
Entering the International Pepper Association (IPC) in 2011 has forecast, this year global production is estimated at 310,000 tons of pepper, of which black pepper is 244,600 tons and 65,300 tons white pepper, down about 6,500 tons compared to last year.
IPC also said that due to increased consumption, this year the world will continue to lack nearly 45,000 tons of pepper, compared with a shortage of 53,000 tons in 2010.
While the world is counting on pepper from India and Vietnam to ease the pressure of supply, Indian pepper growers are converting some areas to other high-value crops like high. chayote and coffee made this year's output fall and Vietnamese pepper growers limited their products to the market waiting for high prices.
In recent days, Indian and world traders are not interested in trading pepper because they saw an increase in the price on Indian market but the real price did not increase.
At the end of the week, Vietnamese export pepper was offered with 550 Gr / l black pepper at US $ 5,500 / ton and black pepper of 500 Gr / l at US $ 5,200 / ton (FOB). Brazilian pepper 1 costs 6,200 USD / ton and Brazil 2 costs 6,100 USD / ton, Indian MG1 grade is priced at 5,800 USD ton, (FOB), unchanged price compared to last week.
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