Chinese Heads up on weekend ! Will it stir up a hornet’s nest ?
Week 29 a very quiet one in Vietnam with very little demand from overseas buyers suddenly getting active at weekend with Chinese traders showing their heads up after a gap of 10 months driving away collectors who were looking for liquidity by selling small volumes to keep the ball rolling . Is this going to be a game changer for a country which is running out of stocks with lower production in current year and meagre imports and guesstimated carryover stocks from previous years.
First 15 days of July saw an import of 750 mts and export of 10,000 mts taking total exports to 153,000 mts from beginning of the year till date. Balance stocks are at precarious low levels and any time one can expect another rally as the next crop is 6/7 months away and stocks in Indonesia and Brazil are at recent lows and those who need coverage should seriously do it otherwise will be caught again like in April this year from Brazil or Indonesia as their harvest has begun and price wise cheaper than Vietnam.
Please call us to discuss your requirements for pesticide complaint Natural and HTST Black and White Pepper as per EU Compliance.
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