Pepper Market Review Week 39 2020vananh
Black and White Pepper Prices closed firmer across all origins during the week especially in India and Vietnam. Short covering and new orders for nearby and last quarter coupled with Chinese entry into the Vietnam market pushed prices up further toward the north. Farmers have already sold 90% of their 2020 harvest and hence there is zero interest to sell. Local Dealers and Collectors who have some buffer are selling but by bit as the prices advanced throughout the week .500 gl Asta cleaned was traded at USD 2500-2525 FOB 550 Asta 2575-2585 and 570 Asta 2635 FOB was traded for prompt as well as October shipment during the week.We expect prices in Vietnam to creep up continuously with tight supplies as 2020 harvest is running out and most likely to be over by end of October .Imports of almost 5000 tons each in August and September is reexported immediately as local prices continue to remain high and major exporters preferred to shop their needs in Indonesia rather than disturbing the heated Vietnam
Brazil prices for B1 closed firmer with more buying interest at 2350 FOB till first Quarter.
Resellers were reportedly offering via USA Brokers LASTA at 2400 FOB but origin
Sellers were unwilling to give offers due to continued rains and was complaining of very
Limited intake of raw material
Indian MG-1 prices closed 4800 FOB with very strong
Internal demand .
Stay covered till end of the year is what we recommend .