Pepper Prices Consolidate in Asian Origins
There’s been a buying frenzy from all five continents as pipeline stocks are emptying and stockpiles in importing countries are depleting. This is happening because replacement costs are high, and Brazilian pepper, despite being priced slightly below Vietnamese pepper, isn’t attractive enough for traders .It’s noteworthy that despite a 50% tariff on Brazilian pepper imports into the USA, Vietnam has suddenly withdrawn from importing Brazilian pepper. This makes re-exporting Brazilian pepper to the USA unworkable for traders due to the tariffs.
As of market closing today in Asian markets, the following price indications were available:
* Indonesian Asta 570 GL FOB Panjang: USD 7100
* Indian MG-1 Asta Min 570 GL FOB Cochin: USD 8700 pmt
* Malaysian Black Pepper Asta FOB Kuching: USD 8950
* Vietnam Black Pepper 570 Asta FOB HCMC: USD 6800 pmt
* Vietnam Black Pepper 550 Asta FOB HCMC: USD 6650 pmt
* Vietnam Black Pepper 500 Asta FOB HCMC: USD 6600 pmt (on request as availability is almost nil)
* Vietnam Black Pepper 500 grams FAQ pre-cleaned and de-stoned Indications: USD 6200 pmt (on request as availability is scarce)
Best Rgds
Jojan Malayil
United Spice Company Limited
phone: +84 844 594763 +91 9895424290 www.unispicevn.com
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