SPICES MARKET UPDATE 6TH JULY 2020 – WEEK 28

PEPPER

Viet Nam

Pepper export in June reached 25.000 tons, valued at 56 million USD, down 17.6% in volume and 8% in value compared with May, 2020. It also decreased by 18.5% in volume and by 25.5% in value compared to June 2019.

The average export price of pepper in June reached 2,240 USD/ton, up 11.6% compared to May, but down 8.6% compared to June 2019.

From January to June 2020, pepper export reached 172.000 tons, value 365 million USD, down 2.9% in volume and 19% in value over the same period in 2019.

In the first 6 months of 2020, the average export price reached 2,127 USD/ton, down 16.6%  compared with the same period in last year 2019.

Market slow since last week with very little demand from overseas customers. Almost kept watching. China/USA/EU customers are very quiet and we have not seen any activities through border trade last week. However, the market is still in uptrend with increased price 50$/ton in week 27. Vietnam exporters/processors covering third quarter shipment in silent.  

Some demand for long time shipment (fourth quarter and 2021 shipment) but we heard all exporters withdraw.

Brazil

The stock very tight and not available for prompt shipment. Price up to firm daily when exporters prefer to cover short and just can offer a few boxes September onwards shipment.

Indonesia

We heard white pepper crop less over 50%. Exporters just offering a few boxes at higher Vietnam price to test market situation.

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IPC PEPPER MKT REPORT No. 27/20, 29 June - 3 July 2020

LOCAL MARKET
Market this week showed mixed response. In local market, Malabar black pepper was reported with 2% deficit as compared to the previous week at an average of USD 4,084 per Mt. Indonesia black and white pepper were reported with an increase of 2% and 3% respectively as opposed to the previous week averaging at USD 2,289 per Mt for black pepper and USD 3,260 per Mt for white pepper, despite the weakening of Indonesian Rupiah against US Dollar. Malaysia black and white peppers in local market were reported stable at an average of USD 1,906 per Mt for black pepper and USD 3,269 per Mt for white pepper. Furthermore, Viet Nam black pepper was reported with an increase of 1% as opposed to the previous week averaging at USD 2,072 per Mt whilst Viet Nam white pepper was reported stable and unchanged. Sri Lanka black pepper was reported with 2% deficit when compared to the previous week and was traded at an average of USD 2,600 per Mt. Whilst, China white pepper traded at an average of USD 4,22 5 per Mt locally.

INTERNATIONAL  MARKET
 International market showed a similar trend as the local market. India black pepper was reported with the same 2% deficit as compared to the previous week at an average of USD 4,349 per Mt. Indonesia black and white pepper were reported with an increase of 2% and 3% respectively as compared to the previous week averaging at USD 2,777 per Mt for black pepper and USD 3,860 per Mt for white pepper. Malaysia black and white peppers were reported stable and unchanged. Furthermore, Viet Nam black pepper 500 g/l and 550 g/l were reported with 1% deficit respectively when compared to the previous week averaging at USD 2,380 per Mt and USD 2,461 per Mt respectively. In contrast, Viet Nam white pepper was reported with an increase of 4% as opposed to the previous week averaging at USD 3,900 per Mt. China traded its white pepper at an average of USD 4,425 per Mt internationally. 

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PEPPER INDIA - IMPORT FEARS GRIP KOCHI´S PEPPER MKT

Kochi  July 03, 2020

Pepper prices declined by R2 per kg, with an average price realisation of R314 per kg, in Kochi on Tuesday 
Fear of pepper imports seem to have gripped the spot market in Kochi with the prices registering a R1/kg drop on Friday.

According to Kishore Shamji of Kishor Spices, there was pressure on local dealers to sell as there were more sellers in the market with imported pepper. The emerging situation has also forced Karnataka planters to liquidate their stock on the fear of imports even at MIP of R500 per kg, he said.

He pointed out that such a situation arose inspite of the government imposing minimum import price restrictions and the Customs Department being given powers in the last Budget to look into the price factor even for imports from bilateral countries.

The farming community fears that their existence will be at stake if such imports continue, he said. They requested the Prime Minister, Finance and Commerce Ministers to look into the matter seriously for the various representations submitted in this regard.

IPSTA Cochin Black pepper rate (R/kg): MG1: 326, ungarbled: 306; 500 G/L: 296 at an off-take of 26 tonnes.


Published on July 03, 2020


V Sajeev Kumar for
www.thehindubusinessline.com/markets/commodities

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