After quite a long time of quiet, at the last 2 trading sessions (June 19 + 20) before the transfer of term month, the price of world pepper futures in Kochi-India suddenly soared unexpectedly. .
The terms delivered in June, July and August increased by a total of Rs 510, Rs 835 and Rs 800, to Rs 40,380 a quintal, Rs 40,730 a quintal and Rs 40,940 a quintal, equivalent to $ 7,246 per tonne, 7,309 USD / ton and US $ 7,347 / ton, up 1.25% from the previous day.
Spot price of pepper in the Indian market followed the trend of the futures market increased by Rs 200, to Rs 38,500 per quintal, equivalent to US $ 6,909 per ton for pint and 40,000 Rs, for US $ 7,178 per ton for MG1 selected type, up 80-100 USD / ton compared to the previous week. (1 USD = Rs 55,7246)
Special price of MG1 of India in the international market is USD 7,450 / ton (C&F) for export to Europe and USD 7,750 / ton (C&F) for export to the US, keeping the price competitive. pepper from other exporting countries.
Recently, spice traders in the world said that Indian pepper needs to drop to a more reasonable level, especially when Brazil and Indonesia will enter a new harvest from the end of June. At the moment, Indian pepper price is 300-400 USD / ton higher than that of other exporting countries.
Reuters also reported that Indian market analysts said demand for Indian pepper was weak in both domestic and export markets due to higher prices than other origins, and forecast. In the next 1-2 days the price will decrease. But the pepper market has changed dramatically.
Reportedly, in Brazil Brazil exported 32,676 tons of pepper of all kinds, an increase of 6% over the previous year and Indonesia exported 36,487 tons of pepper of all kinds, down 42% from the previous year.
According to the revised forecast of the International Pepper Association (IPC), this year Brazil's output is estimated at 35,000 tons and Indonesia's is estimated at 41,000 tons, second to the two major pepper producing countries, Vietnam and India. .
Vietnam's export price of black pepper grade 500g Gr / l-FAQ at US $ 6,350-6,400 / ton and 550 Gr / l-FAQ grade at US $ 6,700-6,750 / ton, while white pepper grade 630Gr / l-FAQ offered Price 9,400-9,450 USD / ton, (FOB), unchanged.
Noon June 21, pepper prices in the domestic market increased slightly by 1-2,000 VND / kg. Specifically, in Ba Ria – Vung Tau 126-127 thousand VND / kg, in Binh Phuoc 124-125 thousand VND / kg and in Dak Lak – Dak Nong and Gia Lai price 121-123 thousand VND / kg.
According to traders, the transaction of pepper last time was quite quiet because farmers expected a better price than the previous year. Last year's pepper price peaked in mid October.
English
Source TTVN / CafeF
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