IPC MARKET REPORT 33/19, 12 August - 16 August 2019

Local Market
Market this week showed mixed response with a rather negative outlook.
In local market, Malabar black pepper was traded with 2% deficit as compared to the previous week with an average of USD 4,679 per Mt.
Indonesia black pepper was reported steady with an average of USD 1,894 per Mt. Following the arrival of new crop, Indonesia white pepper was reported with a slight 1% deficit as opposed to the previous week averaging at USD 3,366 per Mt. In local currency, Muntok white pepper was traded with an average of IDR 48,000 per Kg
Malaysian black and white pepper were reported stable with an average of USD 2,340 per Mt for black pepper and USD 3,860 per Mt for white pepper.
Viet Nam black and white pepper were also reported stable and unchanged.
Following the end of harverst season both in Sri Lanka and China, Sri Lanka black pepper and China white pepper were traded with the same 2% deficit as compared with the previous week with an average of USD 2,493 per Mt and USD 4,790 per Mt respec tively.

International market
In international market, FOB price of India black pepper was reported with the same 2% deficit as compared to the previous week at an average of USD 4,960 per Mt.
Indonesia black pepper was reported stable and unchanged. Whilst Indonesia white pepper was traded with 1% deficit as compared to the previous week with an average of USD 3,982 per Mt.
Malaysia black and white pepper continued stable and unchanged.
Furthermore, Viet Nam black pepper 500 g/l, 550 g/l and Viet Nam white pepper were reported with an increase by 1% as compared to the previous week averaging at USD 2,265 per Mt, USD 2,330 per Mt and USD 3,415 per Mt respectively.
China white pepper was traded internationally with 2% deficit as opposed to the previous week at an average of USD 4,990 per Mt. The decrease in price of China white pepper aside from the effect of harvest season, it was also contributed by the slight weakening of Chinese Yuan against US Dollar.



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India Spices: Wednesday, Aug 14

By Preeti Bhagat

NEW DELHI – Futures contracts of all spices on domestic exchanges, barring mentha oil and jeera, ended lower today.

Coriander futures on National Commodity and Derivatives Exchange hit a 10-week low of 5,810 rupees per 100 kg because of imports from Ukraine, Russia and Bulgaria, said Kamal Vijayvargia, a Kota-based dealer.
"Weather is very favourable right now for next season's sowing, which is a negative factor for prices… Imports have also risen a lot and are coming into India at $650 per tn," he said.

Contracts of jeera ended higher as investors covered their short positions after prices hit an over four-month low of 16,810 rupees per 100 kg in early trade today.
The rise in prices today was also because arrivals in Gujarat's Unjha market fell by 4,000 bags (1 bag = 55 kg) to 6,000 bags, said Mahesh Yadav, a local dealer.

Turmeric futures ended in the red because of profit booking after prices hit a three-week high of 7,198 rupees a 100 kg on Tuesday.

Futures contracts of mentha oil on Multi Commodity Exchange hit a two-month high of 1,324 rupees per kg due to strong demand from domestic stockists and pharmaceutical companies, said Rajiv Gupta, a Sambhal-based spice oil trader.

Cardamom futures hit the 4% maximum lower circuit today as heavy rainfall in Kerala is likely to help plantations with better fruit formation and growth, traders said.

Heavy-to-very heavy rainfall is likely over Kerala during the next 48 hours due to a cyclonic circulation over northwest Arabian Sea, India Meteorological Department said. It also issued a 'red alert' for the state today.

On Indian Commodity Exchange, the August pepper contract traded lower following reports that the Sri Lankan government is likely to hold talks with India for relaxing the minimum import price of the spice.
Currently, Sri Lankan exports up to 2,500 tn of pepper to India at zero duty under the Indo-Sri Lankan Free Trade Agreement. Exports over and above this quantity are subject to 8% duty under the South Asia Free Trade Agreement.


This copy was first published on the Cogencis WorkStation
© Cogencis Information Services Ltd. 2019. All rights reserved.



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VIETNAM - PEPPER MARKET UPDATE 15TH AUG

 






According to Customs and Vietnam Pepper Association, Vietnam's pepper export in July reached 23,461 tons with turnover reached 57.6 million. Compared with June, exports decreased by 26.1% in volume and 25% in value.

In the first 7 months of 2019, Vietnam has exported 203,737 tons with turnover 520.9 million USD. Compared to the same period in 2018, export volume increased by 37.5%, turnover decreased by 0.08%.

The average export price of black pepper in the first 7 months of 2019 reached 2,501 USD/ton, white pepper reached 3,041 USD/tons. Compared to the same period of 2018, the export price of black pepper was only 77.6% and the price of white pepper was only 62.5%.

There were 109 countries importing Vietnam pepper. China is biggest of Vietnam pepper market with imported in the first 7 months of 2019 reached 51,741 tons, roughly 25.4% of total Vietnam pepper export. Other markets in Asia also increased such as: India increased by 2,333 tons, Nepal increased by 2,103 tons, Iran increased by 1,565 tons, Thailand with an increase of 1,143 tons, the United Arab increased by 880 tons…

Europe become the second largest pepper importer with total import of 38,373 tons, around 18.8%. In which Ireland increased the most by 2,757 tons, Germany increased by 2,633 tons, Turkey increased by 1,393 tons, the Netherlands increased by 1,287 tons…

USA was the third largest import market of Vietnam Pepper with 30,397 tons, equivalent 14.9%.

Pepper market opening today firmer and less offer raw material. Chines has been buying few quantity for white pepper beside good demand from Russia/Ukraine. USA/EU/Nepal/India almost quite at our side.

Some exporters covering short position Sept/Oct that sold out before to avoid market up when EU/Middle East back after long holiday. We still recommend should consider to cover stock position for Sept/Oct/ shipment.

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