Pepper Market Review week 39 2021
After four months of lock downs Vietnam is finally loosening its Covid-19 restrictions. The new approach will be more flexible including social distancing, public transportation bans, vaccine green cards, remote schooling, limits on social gatherings and curfews. Factories will reopen depending on the vaccine status of workers and residents of HCMC can leave their homes. Despite muted activity prices were steady to firm during the lockdown. Substantial exports prior to June, slim inventory, volatile freight rates and high coffee prices have all contributed to the bullish environment.
The week closed at record high prices of the year and very limited inventory till
New crop 2022 .Continued increase in freight rates is bleeding those who are having quarterly half yearly and yearly contracts with freight rates hitting eight to ten fold and top 10 exporters are financially bleeding literally .Those who are waiting for lower prices to cover from Vietnam in the last quarter one piece of advise, the note you wait the more you end up paying for the merchandise.Keep covered till February 2022 from your tested supply chain managers .Fyi 500 gl Asta was traded 4100 fob 550 gl Asta was paid 4200 snd DW White Asta 6100 fob at
Weekend for October shipments
Best Rgds
Jojan MalAyil
Bafna Enterprises /India
United Spice Co’ Ltd /Vietnam
+ 91 9895424290
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