Pepper Market Review Week 50 2020
Pepper Prices in all origins closed firmer during the week although we saw little easing off prices in Vietnam in early part of the week but thin inventories pushed prices back up again at close of the week slightly higher than that of week 49 close.Brazil has been the focus of attention since last three weeks being the cheapest origin as Asian buyers were very actively covering besides Europe but with continued increase in ocean freights at close of the week B1 cnf Prices were above the Vietnam 550 Gl Asta cleaned prices .With Christmas and New year approaching fast Brazil will enter the holiday mood soon.Indonesian prices were locally steady to firm and exporters were not willing to offer as no equipment or space are available from that country .Ocean freight for 40 standard equipment was quoted 7000 USD to Cochin which was only 1500 USD in October.The mountain high freight rates are going to make Cnf prices unaffordable for small and medium traders as well as industrial users so we recommend to cover it from the trade in your market as it’s going to take at least 3 months to get back to normalcy according to the major shipping lines we are working with .
Continue to stay covered till new crop in whatever manner is our recommendation.Call us to discuss your requirements as probably we can help you
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