Pepper Talk
VN market is seen quiet opening this week as most of them are busy preparing for the TET holiday. Offers are very limited refusing to bet for forward positions due to an anticipation that China’s demand will further increase after TET.
Muntok remains firm due to declining production and limited raw supply with its strong local consumption that makes up with its weak overseas demand.
Everyone now is leaning towards Brazil. Unfortunately, news of its bad crop situation and fluctuating local currency have prompted raw prices to jumped up from earlier 16 BRL/ kg to now at 17 BRL/kg. Hence, though demand is high, offers are very limited.
Overall, most are still found on a sideline opting to wait after TET in anticipation that Vietnam’s crop arrival could bring some relief. However, when push comes to shoves, and peak arrival fails to give enough pressure to sell, direction with current prices could then therefore escalate significantly beyond current levels.
For your pepper requirements, please get in touch with our sale's team.
Royal Golden Trading, Dubai
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