Pepper Market Review Week 24 2021

Black and White Pepper prices in Vietnam opened further firm on Monday and moved further high to 77000 VND per kg with exporters covering for June shipments besides Chinese traders but towards the end of week settled down to 75000 VND per kg with increased Covid -19 cases some of the major processors shutting down operations on government orders leaving only a few processors in industrial parks working at close of the week.From reliable sources we understand that it’s a matter of time these units also will be closed down if the Covid -19

Cases increase further .As of date there are 7999 active cases and vaccination yet to

gain momentum in the country and even priority front line workers yet to be vaccinated .

During the week 500  gl Asta Cleaned was traded as high as USD 3750 FOB and 550 gl Asta USD 3850 and 570 gl Asta USD 3925 FOB and DW White Asta USD 5425 for prompt as well as further out shipment as prices in Brazil continue to trade at 4100 FOB and Indonesian LASTA was quoted 4000-4100 FOB and none willing to offer on cnf basis as severe shortage of equipment in the port as it’s an out port with no imports happening hence the shortage.

Indian prices eased a little with strengthening of USD against

Indian rupee.

We advise to take advantage in buying in current dips as pepper prices are likely to show new highs in the 3rd and 4 th quarter  of 2021 and take caution on supply chain disruptions