Pepper Market Review Week 21 2020

Black and White pepper Prices increased close to 10% this week in Vietnam. Increased  fresh demand ,short covering and speculative operations  has encouraged farmers and collectors to hold and increase asking prices .Indonesia and Brazil firmed as well but Indian prices were steady . Local prices at end of the week surged to 47.500 Vietnam
Dongs per Kg.Worlds largestGrinder
Was shopping heavily in Vietnam picking up all offers for 570 gl and 500 gl Asta cleaned whole Black Pepper for July and August shipments during the week added oil to the fire . At the end of the week there were confirmed reports of VIETNAM Exporters asking for extension and second and third tier
Shippers already throwing off the towel .As far as our knowledge goes
Extension of contracts will lead to double Loss which will lead to defaults ultimately.Greedy buyers who put their eggs in such baskets are going to feel the heat and eventually have to pay up current
Prices if they still want to be in business was the comment from a veteran pepper trader.
Following were the quotes at close of Biz on Saturday for June/July shipments

Whole Black Pepper  500FAQ;    2,070$

Whole Black Pepper 500 GL Asta cleaned   US$2,250

Whole Black Pepper  550 GL Asta Cleaned:US$2,315$

Whole Black Pepper 570 GL Asta Cleaned US$ 2360

Whole White Pepper 650 GL Asta Cleaned :US$ 3250

Whole Black Pepper  Steam  Sterilized 550 /L EU Pesticide Compliance US$ 2750

Both Indonesia and Brazil were very reluctant in putting prices for nearby as well as New Crop 2020

We continue to advise to stay covered for nearby requirements