SEASON GREETINGS FROM PEPPERTRADE
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Monday, December 21, 2009
Saturday, December 12, 2009
2009 IPC Meeting -Report
2009/12/12
Pepper market Scenario during 2008/2009
Excerpts of the Final Report produced by IPC metting in Belem presented by the Executive Director of IPC
PRODUCTION
" During the last six years, world production or pepper declined consistently, with the exception of 2008, from 364,500 tons in 2003 to an estimated 310,636 tons in 2009, a rate of 2,5% per year.
The continuous decline in prices from the peak of averagedly U$D 5,610/ton for black pepper in New York in 1999 to the bottom level of around U$D 1,675/ton in 2004/2005.
However price increase in the late 2006 till the middle of 2008, has yet to show any impact to the increase in output. "
"Overall output was reported reduced in Indonesia, Brazil and Sri Lanka, India was reported stable and Vietnam increased."
2009
"During 2009, it is estimated that global pepper production would be lower by around 8,200 tons ( 3%) from 318,843 ton in 2008 to 310,636 ton in 2009 instead of the projection made during the last IPC meeting which was of 325,000 ton. As for the black pepper it is estimated a total of around 243,600 ton."
" Production of black pepper in Brazil, Indonesia and Sri Lanka is estimated to remain lower while production in Vietnam and Malaysia tend to increase"
EXPORTS
" During 2009, exports from most origins is expected to decrease, due to estimated lower output this year.
However, exports from Vietnam were suprisingly reported to increase substantially this year, offsetting lower exports of the other countries. During January-September 2009, export from Brazil, India, Indonesia, Malaysia and Sri Lanka totaled at around 87,000 ton as against 102,500 tons in the same period of the last year, showing a significant fall of 15%.
If this performance is extrapolated to the situation of total export from these countries in the year, it is estimated that export of pepper from these five countries in 2009 would be around 112,500 ton.
Some sources reported that Vietnam has shipped 120,000 ton of pepper during January - October 2009. Observing this performance, about 130,000 tons of pepper would be achievable to be shipped from Vietnam during this year. Taking into account that export from other sources ( China, Thailand, Madagascar, Ecuador, etc.) at around 10,000 ton, the total export of pepper in 2009 would be around 252,500 ton."
PRICES
"Price fluctuates from year to year depending upon demand and supply. During 2008 till beginning of 2009, pepper prices experienced a decrease and moved up again in the second semester of the year.
In addition of increased supply in 2008, the decrease in prices was influenced also by demand factor, since global economic turmoil in 2008 has lowered demand of main consuming countrues, such as United States and European countries."
CONCLUSION
"Global pepper production in 2009 would be lower, while the export indicates an increasing trend. As a result of drop in production and exhausted carry over stocks, increased prices could be expected in the global market."
"It is also evident that the productivity of traditional pepper producing countries remains at low level, making remuneration to the farmers not attractive to remain in the industry."
"For both black and white pepper the lucrative prices experienced from around early 2007 toearly 2008 is yet to be achieved.
Given the slow growth rate of pepper production and exhausted carry over stocks, the prices may continue to rise in the world market"
We encourage the discussion of these points.
Send us your opinion about the figures, the trends, the presentation...
EDITOR PEPPERTRADE
2009/12/12
Pepper market Scenario during 2008/2009
Excerpts of the Final Report produced by IPC metting in Belem presented by the Executive Director of IPC
PRODUCTION
" During the last six years, world production or pepper declined consistently, with the exception of 2008, from 364,500 tons in 2003 to an estimated 310,636 tons in 2009, a rate of 2,5% per year.
The continuous decline in prices from the peak of averagedly U$D 5,610/ton for black pepper in New York in 1999 to the bottom level of around U$D 1,675/ton in 2004/2005.
However price increase in the late 2006 till the middle of 2008, has yet to show any impact to the increase in output. "
"Overall output was reported reduced in Indonesia, Brazil and Sri Lanka, India was reported stable and Vietnam increased."
2009
"During 2009, it is estimated that global pepper production would be lower by around 8,200 tons ( 3%) from 318,843 ton in 2008 to 310,636 ton in 2009 instead of the projection made during the last IPC meeting which was of 325,000 ton. As for the black pepper it is estimated a total of around 243,600 ton."
" Production of black pepper in Brazil, Indonesia and Sri Lanka is estimated to remain lower while production in Vietnam and Malaysia tend to increase"
EXPORTS
" During 2009, exports from most origins is expected to decrease, due to estimated lower output this year.
However, exports from Vietnam were suprisingly reported to increase substantially this year, offsetting lower exports of the other countries. During January-September 2009, export from Brazil, India, Indonesia, Malaysia and Sri Lanka totaled at around 87,000 ton as against 102,500 tons in the same period of the last year, showing a significant fall of 15%.
If this performance is extrapolated to the situation of total export from these countries in the year, it is estimated that export of pepper from these five countries in 2009 would be around 112,500 ton.
Some sources reported that Vietnam has shipped 120,000 ton of pepper during January - October 2009. Observing this performance, about 130,000 tons of pepper would be achievable to be shipped from Vietnam during this year. Taking into account that export from other sources ( China, Thailand, Madagascar, Ecuador, etc.) at around 10,000 ton, the total export of pepper in 2009 would be around 252,500 ton."
PRICES
"Price fluctuates from year to year depending upon demand and supply. During 2008 till beginning of 2009, pepper prices experienced a decrease and moved up again in the second semester of the year.
In addition of increased supply in 2008, the decrease in prices was influenced also by demand factor, since global economic turmoil in 2008 has lowered demand of main consuming countrues, such as United States and European countries."
CONCLUSION
"Global pepper production in 2009 would be lower, while the export indicates an increasing trend. As a result of drop in production and exhausted carry over stocks, increased prices could be expected in the global market."
"It is also evident that the productivity of traditional pepper producing countries remains at low level, making remuneration to the farmers not attractive to remain in the industry."
"For both black and white pepper the lucrative prices experienced from around early 2007 toearly 2008 is yet to be achieved.
Given the slow growth rate of pepper production and exhausted carry over stocks, the prices may continue to rise in the world market"
We encourage the discussion of these points.
Send us your opinion about the figures, the trends, the presentation...
EDITOR PEPPERTRADE
Tuesday, October 27, 2009
Can India sustain current Bull Rally ?
New Delhi 27/10/2009
Indian future delivery prices which got triggered from Friday with domestic traders paying up the asking prices of sellers as the pepper traders/stockiest are getting tired besides the speculators as the yearly average prices have been hovering around inr 145/-per kg for the garbled stuff and usd 140 for the farmgate pepper since 2006 june although other commodities have soared as high as 2 to 3 times of its value.
Interestingly since money talks the spot pepper prices have not moved up in tandem with the future delivery prices as operators are still not comfortable going long because fundamentals of the market are proving right.
The Indian casino players have been playing with statistics of Vietnam and Indonesian crop estimates and carry overs all got stunned with Vietnam exporting close to almost 40% more of its predicted crop numbers and Indonesia becoming a "akshya Patra" ( never ending source) for importers .
India the cheerleader hardly exports any of its origin pepper but trade millions of tones in the National Agri Casino ( where the price of pepper is different for same delivery although specifications are same ) Although Indonesia has increased the asking prices to usd 3050 to usd 3100 fob panjang surprisingly Vietnam and Brazil are keeping their tags much below to have more business. Cheer leader India has got its own pockets to park the pepper at very high prices to fellow comrades which is being completely ignored by Vietnamese and Sri Lankans who get excited by the waves in the Indian Casino.
There is a hue and Cry that there is no farmgate pepper available in the terminal market, but according to Mr Jojan Malayil of Bafna Enterprises and the countrys largest exporter of Indian Origin black pepper in various forms said " I disagree to the statements which are coming from various corners as the national Exchanges who have so far not defaulted on Pepper deliveries whatever they trade at the end of the day is available for physical deliveries which are as good as physical pepper and is available in thousands of tones for those who require it but should be prepared to forget contract specifications . One has to see whether the domestic demand will continue at higher levels or the demand will dry up if the futures start dropping.
The Indian price tag of Asta pepper has moved to usd 3275-3300 pmt fob Cochin against Indonesians usd 3050-3100 fob Panjang and Vietnams usd 3100-3150 pmt fob Hochiminh and Brazil usd 2850 fob Belem.
Jennifer La Rive
Indian future delivery prices which got triggered from Friday with domestic traders paying up the asking prices of sellers as the pepper traders/stockiest are getting tired besides the speculators as the yearly average prices have been hovering around inr 145/-per kg for the garbled stuff and usd 140 for the farmgate pepper since 2006 june although other commodities have soared as high as 2 to 3 times of its value.
Interestingly since money talks the spot pepper prices have not moved up in tandem with the future delivery prices as operators are still not comfortable going long because fundamentals of the market are proving right.
The Indian casino players have been playing with statistics of Vietnam and Indonesian crop estimates and carry overs all got stunned with Vietnam exporting close to almost 40% more of its predicted crop numbers and Indonesia becoming a "akshya Patra" ( never ending source) for importers .
India the cheerleader hardly exports any of its origin pepper but trade millions of tones in the National Agri Casino ( where the price of pepper is different for same delivery although specifications are same ) Although Indonesia has increased the asking prices to usd 3050 to usd 3100 fob panjang surprisingly Vietnam and Brazil are keeping their tags much below to have more business. Cheer leader India has got its own pockets to park the pepper at very high prices to fellow comrades which is being completely ignored by Vietnamese and Sri Lankans who get excited by the waves in the Indian Casino.
There is a hue and Cry that there is no farmgate pepper available in the terminal market, but according to Mr Jojan Malayil of Bafna Enterprises and the countrys largest exporter of Indian Origin black pepper in various forms said " I disagree to the statements which are coming from various corners as the national Exchanges who have so far not defaulted on Pepper deliveries whatever they trade at the end of the day is available for physical deliveries which are as good as physical pepper and is available in thousands of tones for those who require it but should be prepared to forget contract specifications . One has to see whether the domestic demand will continue at higher levels or the demand will dry up if the futures start dropping.
The Indian price tag of Asta pepper has moved to usd 3275-3300 pmt fob Cochin against Indonesians usd 3050-3100 fob Panjang and Vietnams usd 3100-3150 pmt fob Hochiminh and Brazil usd 2850 fob Belem.
Jennifer La Rive
Thursday, October 22, 2009
India pepper - Heavy Pressure mounts on Bulls
New Delhi 22/10/2009
The Indian Black Pepper currently priced highest in the world next to Malay Pepper has come under pressure as there are no demands for it from overseas markets and the expected buying from domestic market still to come. With Indian rupee appreciating against usd the cfr prices out of India has become very expensive keeping overseas importers away but it was interesting to see although the currencies in Brazil and Indonesia were also close to 6% stronger against usd they have not increased their asking prices like India. Vietnam who is said to have exported more than 110000 mt is still willing to wheel and deal with 500 gl faq pepper offered @ usd 2600 pmt fob Hcmc and 550 gl pepper offered @ usd 2750 pmt fob Hcmc and Vietnam Special Asta 570 gl and no guarantees on light pepper is offered @ usd 3000 fob Hcmc for shipment very promptly after placing orders According to Ms Nguyen who has been associated with Vietnam pepper exports ever since they have started exports of both black and white pepper and a very trusted source who added the current typhoon loss is not to exceed 5000 mt of production for 2010 .
Reports from Hcmc states that Vietnam has already exported 3665 mt pepper in the first 15 days making the balance available stock to only 1952 mt as per Hindu business Line a leading business daily who are following every movement on a 24 hour basis but the fact is Vietnam still has 20000 mt more to export before the new crop hits in February 2010 who have weighed the balance stocks on 30th September 30th at 5617 tm. These kind of absurd news really misleads small and medium players in pepper who are vanishing on a daily basis because of the excessive speculation happening on pepper in the National Exchanges. They have 6 contracts in place but 90% of the trade is happening only on the near month contract and nothing is happening on the far month which means no price discovery is happening in the exchange but only rampant speculation.
The Bulls in India will be saved only by domestic demand as value added processors are back into imports who at one point have completely written off imports for the rest of the year. With higher prices currently in India and weaker usd favors imports value added processors who at one point hedged their overseas sales in Indian exchanges are now seen selling off and replacing it with cheaper imported pepper out of Sri Lanka and Indonesia
Jennifer LaRive
The Indian Black Pepper currently priced highest in the world next to Malay Pepper has come under pressure as there are no demands for it from overseas markets and the expected buying from domestic market still to come. With Indian rupee appreciating against usd the cfr prices out of India has become very expensive keeping overseas importers away but it was interesting to see although the currencies in Brazil and Indonesia were also close to 6% stronger against usd they have not increased their asking prices like India. Vietnam who is said to have exported more than 110000 mt is still willing to wheel and deal with 500 gl faq pepper offered @ usd 2600 pmt fob Hcmc and 550 gl pepper offered @ usd 2750 pmt fob Hcmc and Vietnam Special Asta 570 gl and no guarantees on light pepper is offered @ usd 3000 fob Hcmc for shipment very promptly after placing orders According to Ms Nguyen who has been associated with Vietnam pepper exports ever since they have started exports of both black and white pepper and a very trusted source who added the current typhoon loss is not to exceed 5000 mt of production for 2010 .
Reports from Hcmc states that Vietnam has already exported 3665 mt pepper in the first 15 days making the balance available stock to only 1952 mt as per Hindu business Line a leading business daily who are following every movement on a 24 hour basis but the fact is Vietnam still has 20000 mt more to export before the new crop hits in February 2010 who have weighed the balance stocks on 30th September 30th at 5617 tm. These kind of absurd news really misleads small and medium players in pepper who are vanishing on a daily basis because of the excessive speculation happening on pepper in the National Exchanges. They have 6 contracts in place but 90% of the trade is happening only on the near month contract and nothing is happening on the far month which means no price discovery is happening in the exchange but only rampant speculation.
The Bulls in India will be saved only by domestic demand as value added processors are back into imports who at one point have completely written off imports for the rest of the year. With higher prices currently in India and weaker usd favors imports value added processors who at one point hedged their overseas sales in Indian exchanges are now seen selling off and replacing it with cheaper imported pepper out of Sri Lanka and Indonesia
Jennifer LaRive
Problem with our Servers
We regret to inform that we were facing problems with our servers last days and thus we couldnt upload and update the PEPPERTRADE web site.
Apparently the problems are being solved and hopefully by the end of the week we will be ok again
PEPPERTRADE EDITOR
Apparently the problems are being solved and hopefully by the end of the week we will be ok again
PEPPERTRADE EDITOR
Friday, October 16, 2009
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Thursday, October 08, 2009
Re: Bullish Trend
Dear Editor
No doubt the trend is bullish if we look at the fundamentals but severe cheating on carryover stocks and production figures from both Vietnam and Indonesia has completely shattered the calculation of traditional pepper traders who were taking views on production figures/carry over stocks . In the IPC meeting in Hochiminh Vietnam came our with a production figure of 85000 mt later revised to 95000 as exports kept increasing and the latest revision was during first week September putting the figure at 105000 and now that exports in the first 9 months are over 110000 mt and 3 more months to go we will be seeing further revisions as they themselves don’t know whats their crop and carryover stocks. Indonesians know all these but don’t share with the rest of the pepper community obviously for their own reasons. Recent Typhoon and earthquakes in Vietnam and Indonesia had made no impact in these countries pricing but we have seen a spur in Indian Pepper exchange but not in the available spot material which hardly has many takers . It was surprising to see speculators prepared to buy 145 per kg oct mg-1 deliveries but not willing to buy farmgate pepper @ inr 140/141/kg levels. So its evident that its more of speculative buying rather than actual demand buying. USA grinders seem to be covered for oct/nov/dec shipments and now what we will be seeing only fill up demands. According to our sources if the market does not pick up in the month of October then the next action can be seen only in mid January when industrial buyers are back after Christmas and newyear holidays.Markets are likely to remain range bound as currency in major producing countries are getting stronger day by day and prices in usd terms are creeping high although on cansee sporadic sales at discounted levels from Cash struck exporters
Cheers
Jeenifer La Rive
No doubt the trend is bullish if we look at the fundamentals but severe cheating on carryover stocks and production figures from both Vietnam and Indonesia has completely shattered the calculation of traditional pepper traders who were taking views on production figures/carry over stocks . In the IPC meeting in Hochiminh Vietnam came our with a production figure of 85000 mt later revised to 95000 as exports kept increasing and the latest revision was during first week September putting the figure at 105000 and now that exports in the first 9 months are over 110000 mt and 3 more months to go we will be seeing further revisions as they themselves don’t know whats their crop and carryover stocks. Indonesians know all these but don’t share with the rest of the pepper community obviously for their own reasons. Recent Typhoon and earthquakes in Vietnam and Indonesia had made no impact in these countries pricing but we have seen a spur in Indian Pepper exchange but not in the available spot material which hardly has many takers . It was surprising to see speculators prepared to buy 145 per kg oct mg-1 deliveries but not willing to buy farmgate pepper @ inr 140/141/kg levels. So its evident that its more of speculative buying rather than actual demand buying. USA grinders seem to be covered for oct/nov/dec shipments and now what we will be seeing only fill up demands. According to our sources if the market does not pick up in the month of October then the next action can be seen only in mid January when industrial buyers are back after Christmas and newyear holidays.Markets are likely to remain range bound as currency in major producing countries are getting stronger day by day and prices in usd terms are creeping high although on cansee sporadic sales at discounted levels from Cash struck exporters
Cheers
Jeenifer La Rive
Wednesday, October 07, 2009
Bullish Trend
Reports fm Vietnam fundament bullish trend
2009/10/08
October 8, 2009
Last September 22, a report form Vietnam was warning that Vietnam had 20,000 tons of Pepper for exports by late 2009.
The article reported:
Vietnam has left only 15,000-20,000 tons of pepper for exports in the remaining months of 2009, according to the Vietnam Pepper Association (VPA).The VPA estimated that the country would harvest 105,000 tons of pepper this year, of which up to 95,000 tons worth US$228 million were shipped abroad already in the first eight months.In August, the country sold abroad 13,113 tons of pepper worth US$34.8 million, down 5.28% in volume and up 1.02% in value against the previous month.
The U.S. continued to be the largest importer of Vietnam’s pepper, purchasing 1,916 tons in the month.
The United Arab Emirates ranked second with 1,623 tons.Germany and Egypt followed with respective figures of 928 tons and 861 tons.
Prices of pepper have recently started rising in Vietnam thanks to soaring global demand. On September 9, pepper was sold for VND47,500 per kilo in the central highlands province of Dak Lak, the highest level since early 2009..
VPA is encouraging its members to meet market requirements by further investing in appropriate processing equipment.Vietnam, the world’s leading pepper exporter, is expected to export 100,000 tons of pepper in 2009, an increase of 10,000 tons over last year..
(Youth, CPV)
Nevertheless on October 6 the VPA _ Vietnam Pepper Association reported a 14,000 ton exported volume in September amd 111,110 for the first nine month of the year.
If both information proceed it seems like Vietnam has less than 5,000 tons left to the end of the year and the new crop which by other reports, risks to be much smaller than expected due to adverse weather.as reported earlier this week.
Thus the reason for a consistent altough still light bullish trend.
PEPPERTRADE EDITOR
Mail your comments
2009/10/08
October 8, 2009
Last September 22, a report form Vietnam was warning that Vietnam had 20,000 tons of Pepper for exports by late 2009.
The article reported:
Vietnam has left only 15,000-20,000 tons of pepper for exports in the remaining months of 2009, according to the Vietnam Pepper Association (VPA).The VPA estimated that the country would harvest 105,000 tons of pepper this year, of which up to 95,000 tons worth US$228 million were shipped abroad already in the first eight months.In August, the country sold abroad 13,113 tons of pepper worth US$34.8 million, down 5.28% in volume and up 1.02% in value against the previous month.
The U.S. continued to be the largest importer of Vietnam’s pepper, purchasing 1,916 tons in the month.
The United Arab Emirates ranked second with 1,623 tons.Germany and Egypt followed with respective figures of 928 tons and 861 tons.
Prices of pepper have recently started rising in Vietnam thanks to soaring global demand. On September 9, pepper was sold for VND47,500 per kilo in the central highlands province of Dak Lak, the highest level since early 2009..
VPA is encouraging its members to meet market requirements by further investing in appropriate processing equipment.Vietnam, the world’s leading pepper exporter, is expected to export 100,000 tons of pepper in 2009, an increase of 10,000 tons over last year..
(Youth, CPV)
Nevertheless on October 6 the VPA _ Vietnam Pepper Association reported a 14,000 ton exported volume in September amd 111,110 for the first nine month of the year.
If both information proceed it seems like Vietnam has less than 5,000 tons left to the end of the year and the new crop which by other reports, risks to be much smaller than expected due to adverse weather.as reported earlier this week.
Thus the reason for a consistent altough still light bullish trend.
PEPPERTRADE EDITOR
Mail your comments
Rains in Vietnam
Information from Vietnam
From Vietnam October 6, 2009
Typhoon No. 9 cause broken down about 1,000 hectares pepper in Gia Lai, Dak Lak
According to sources from local, Typhoon No. 9 caused severe damage; Particularly for pepper plants, about 1,000 hectares broken down, debris, including Gialai about 500 hectares , Dak Lak province about 400 hectares.
In Chu Se district, Gia Lai province, according to information from the Association Chu Se Pepper said incomplete statistics: More than 152,000 pillars equivalents about 75 hectares broken down completely and hundreds of hectares were put crushed pepper reduced yield of 20%.
Preliminary assessment on production crop 2009, due to weather conditions are not favorable, production of pepper reduction 40% in compared with crop 2008. This will strongly impact the supply, demand, pricing pepper domestic market and export-import market pepper in 2010.
Read more about this...
From Vietnam October 6, 2009
Typhoon No. 9 cause broken down about 1,000 hectares pepper in Gia Lai, Dak Lak
According to sources from local, Typhoon No. 9 caused severe damage; Particularly for pepper plants, about 1,000 hectares broken down, debris, including Gialai about 500 hectares , Dak Lak province about 400 hectares.
In Chu Se district, Gia Lai province, according to information from the Association Chu Se Pepper said incomplete statistics: More than 152,000 pillars equivalents about 75 hectares broken down completely and hundreds of hectares were put crushed pepper reduced yield of 20%.
Preliminary assessment on production crop 2009, due to weather conditions are not favorable, production of pepper reduction 40% in compared with crop 2008. This will strongly impact the supply, demand, pricing pepper domestic market and export-import market pepper in 2010.
Read more about this...
Monday, September 21, 2009
Indian Pepper Scenario on Eid Eve
Indian exporters of the black gold have been waiting patiently for the opportunity of doing at least 3000 mt of exports in the last quarter of 2009, after six months of high profile online Casino activities with the blessing of the National Agri Exchange who comes under the most ineffective and back bone less regulator in the country.
Many ask why a regulator of this caliber is needed in a country where the stock market regulator is one of the best in the world and the regulation of trading futures in commodities also should be entrusted with them for the effective functioning of this beautiful model which was well run. for more than 50 years by India pepper and spice Trade Association with impeccable record and never given the chance for regulator to interfere as the self regulation itself was one of the best we have seen in this country with regard to running the exchange as it was not a money making platform but a platform well designed to cater the needs of farmers, up country traders. stockiests and Terminal Traders and Exporters of Black pepper in this country.
The total exports of black pepper made from the country till sept 15 was to the tune of 7500 mt out of which imported pepper constituted 6000 mt which means India has not exported Indian origin pepper in the first half of financial year 2009 2010.
Is not more than 1500 mt although the quantities traded in the online Casino are close to 150000 mt minimum in a month .
Who is benefitting from this price destruction system ?
Its high time to either to regulate the system on the full spirit of letter and word or close down the operation as the money from a million retail operators have reached the pockets of a very few people who can be counted on finger tips besides the exchage and cell call anlysts from various commodity broking houses.
Every morning we see stories on Indian pepper. Some are so stupid and absurd and the editor and publisher should be stoned to death for printing such stories.
For exporting 250 mt pepper you can read stories and Live TV shows from old school stalwarts to the new generation breast feeding analysts who have considered themselves as the last word with regard to price movements either intraday or during the tenor of the contract .
Competitive pricing of Indian pepper currently. will results in exports in the last Quarter of 2009 ? was asked to Mr Jojan Malayil Vice Chairman of All India. Spice Exporters Forum and the country's largest exporter of Indian Black and white pepper and the answer was ”no comments” for the first time in recent times seems.
Things are not positive as he predicted before .So guys watch out or you will be caught on the wrong foot .
Jennifer La Rive
New Delhi
19/09/2009 22 30 hrs
Many ask why a regulator of this caliber is needed in a country where the stock market regulator is one of the best in the world and the regulation of trading futures in commodities also should be entrusted with them for the effective functioning of this beautiful model which was well run. for more than 50 years by India pepper and spice Trade Association with impeccable record and never given the chance for regulator to interfere as the self regulation itself was one of the best we have seen in this country with regard to running the exchange as it was not a money making platform but a platform well designed to cater the needs of farmers, up country traders. stockiests and Terminal Traders and Exporters of Black pepper in this country.
The total exports of black pepper made from the country till sept 15 was to the tune of 7500 mt out of which imported pepper constituted 6000 mt which means India has not exported Indian origin pepper in the first half of financial year 2009 2010.
Is not more than 1500 mt although the quantities traded in the online Casino are close to 150000 mt minimum in a month .
Who is benefitting from this price destruction system ?
Its high time to either to regulate the system on the full spirit of letter and word or close down the operation as the money from a million retail operators have reached the pockets of a very few people who can be counted on finger tips besides the exchage and cell call anlysts from various commodity broking houses.
Every morning we see stories on Indian pepper. Some are so stupid and absurd and the editor and publisher should be stoned to death for printing such stories.
For exporting 250 mt pepper you can read stories and Live TV shows from old school stalwarts to the new generation breast feeding analysts who have considered themselves as the last word with regard to price movements either intraday or during the tenor of the contract .
Competitive pricing of Indian pepper currently. will results in exports in the last Quarter of 2009 ? was asked to Mr Jojan Malayil Vice Chairman of All India. Spice Exporters Forum and the country's largest exporter of Indian Black and white pepper and the answer was ”no comments” for the first time in recent times seems.
Things are not positive as he predicted before .So guys watch out or you will be caught on the wrong foot .
Jennifer La Rive
New Delhi
19/09/2009 22 30 hrs
Friday, September 04, 2009
Subject: CLIP OF THE NECK OF BULLS
To: PEPPERTRADE EDT
Sent: Friday, September 04, 2009 12:53 PM
Subject: CLIP OF THE NECK OF BULLS
sir
what is the right informatio?
one day you write one price later the SAME DAY you write other ?
what si teh real prices ? 2650 ot 2700 ? 2950 or "below 2750 ?
we follow you daily for some years and your site is a reference to our job
but it must be more serious we need confidence for our job
sorry for this e-mail but we say it only in good intention
RECEIVED FM "Anonimous"
Sent: Friday, September 04, 2009 12:53 PM
Subject: CLIP OF THE NECK OF BULLS
sir
what is the right informatio?
one day you write one price later the SAME DAY you write other ?
what si teh real prices ? 2650 ot 2700 ? 2950 or "below 2750 ?
we follow you daily for some years and your site is a reference to our job
but it must be more serious we need confidence for our job
sorry for this e-mail but we say it only in good intention
RECEIVED FM "Anonimous"
Tuesday, September 01, 2009
September Pepper –All set for take off ?
Karachi, September 1st, 2009
August 09 has been very exciting month for pepper market all over the world.
From July 27 till August 10 there has been only one trend and that was upward. We have read many reports, analysis and market forecasts by industry professionals. Some reports mentioned that the market is over done, some reports predicts still enough room in the room for Bull’s dance.
Let’s watch the market behavior from August 11 till today September 01, 2009.
Pepper prices started declining sharply from its peak U$D 2900 fob (Most famous FAQ Vietnam) and touched U$D 2450 in 3-4 business sessions. At this level a strong support came and lot of business was done. The prices started rising again and touched USD 2650-2700 FOB on next Monday. Market had to face strong resistance at USD 2700 FOB.
So again the market went down to USD 2550 level and then again climbed to USD 2700 FOB level on September 1st evening.
The market has been moving in a short range of USD 150 up and down after making bottom at U$D 2450 that is a sign of strength. In the meantime other big competing origin Brazil had not much fluctuations and the prices there stood more or less at U$D 2700-2800 FOB level for B1.The role of Indian exchanges can’t be overlooked now and there the price has been fluctuating in a range of 145-160 INR/KG.
Before discussing future scenario lets see demand side in the coming weeks. It’s obvious that US, the biggest buyer has yet to cover for last quarter requirements.
Europe the second biggest has also enter the market as soon as the summers holidays are finished.
In Middle East the consumption months are approaching as festival seasons marriage seasons all starts from September every year.
As per our information the stocks are not much in the consuming countries.
The biggest trader India also has to face shortfall in the upcoming crop 2009-2010 as there has been 25% lesser moon soon showers which upsets major spices crops there.
Now comes the supply side,
Vietnam the hero of the drama has in fact very very thin stocks and it has already exported 100,000 tons and it has nothing more than 10,000-15,000 mt available till Feb 2010.
If some buyers enter the market at this stage the market can shoot up just in one trading session.
If it breaks the resistance at USD 2700 next resistance might be at USD 3000 but it will be not so strong and by breaking this level definitely next stop is at USD3500.
The reports from Brazil reveal that the crop size is definitely lesser for this July/August Espirito Santo area and furthermore it’s delayed too.
The crops from Sarwak, Indonesia and Srilanka have been playing insignificant role in determining the market trend for last some years.
So by analyzing the demand supply equation one can easily guess that the pepper market might have some very exciting moments in near future.
So let’s watch.
Muhammad Asif Qureshi
Dynamic International Traders
Mail your comments
August 09 has been very exciting month for pepper market all over the world.
From July 27 till August 10 there has been only one trend and that was upward. We have read many reports, analysis and market forecasts by industry professionals. Some reports mentioned that the market is over done, some reports predicts still enough room in the room for Bull’s dance.
Let’s watch the market behavior from August 11 till today September 01, 2009.
Pepper prices started declining sharply from its peak U$D 2900 fob (Most famous FAQ Vietnam) and touched U$D 2450 in 3-4 business sessions. At this level a strong support came and lot of business was done. The prices started rising again and touched USD 2650-2700 FOB on next Monday. Market had to face strong resistance at USD 2700 FOB.
So again the market went down to USD 2550 level and then again climbed to USD 2700 FOB level on September 1st evening.
The market has been moving in a short range of USD 150 up and down after making bottom at U$D 2450 that is a sign of strength. In the meantime other big competing origin Brazil had not much fluctuations and the prices there stood more or less at U$D 2700-2800 FOB level for B1.The role of Indian exchanges can’t be overlooked now and there the price has been fluctuating in a range of 145-160 INR/KG.
Before discussing future scenario lets see demand side in the coming weeks. It’s obvious that US, the biggest buyer has yet to cover for last quarter requirements.
Europe the second biggest has also enter the market as soon as the summers holidays are finished.
In Middle East the consumption months are approaching as festival seasons marriage seasons all starts from September every year.
As per our information the stocks are not much in the consuming countries.
The biggest trader India also has to face shortfall in the upcoming crop 2009-2010 as there has been 25% lesser moon soon showers which upsets major spices crops there.
Now comes the supply side,
Vietnam the hero of the drama has in fact very very thin stocks and it has already exported 100,000 tons and it has nothing more than 10,000-15,000 mt available till Feb 2010.
If some buyers enter the market at this stage the market can shoot up just in one trading session.
If it breaks the resistance at USD 2700 next resistance might be at USD 3000 but it will be not so strong and by breaking this level definitely next stop is at USD3500.
The reports from Brazil reveal that the crop size is definitely lesser for this July/August Espirito Santo area and furthermore it’s delayed too.
The crops from Sarwak, Indonesia and Srilanka have been playing insignificant role in determining the market trend for last some years.
So by analyzing the demand supply equation one can easily guess that the pepper market might have some very exciting moments in near future.
So let’s watch.
Muhammad Asif Qureshi
Dynamic International Traders
Mail your comments
Thursday, August 27, 2009
Have a Paracetamol or a Cognac, sleep well...
Have a Paracetamol or a Cognac, sleep well and when you wake up your cold is gone ! Spot pepper prices in India are not going to be under pressure as the holders are not the ones without backbones like the ones who trades in the National commodity Exchanges who run for their life when some stupid broking house new born baby gives some sell calls . The Indian pepper futures were overbought 100% by people who do not have a single Kilo requirement even for their home consumption but the 85% sellers were seasoned Veterans with deep pockets and knowledge of domestic and international markets and supply and demand economics.I wont be surprised even if the future delivery prices fall to 135 , but at that time also it will be difficult to buy farmgate pepper at 140 per kg.
All the origins were speculating and prices moved up by usd 600 to usd 800 pmt but other than Vietnam and Brazil other producing countries didn't get a chance to sell their superior asta grade at higher prices to the largest consuming country of pepper the United States of America.Now that all origins have cooled off as speculators have lost their shirts and trying to avoid loosing their trousers.Both USA and European Industries need pepper for the last quarter and ist quarter of 2010 have been waiting patiently with the excuse of being away on Vacation has now started to assess the potential danger of postponing the buying requirements and some have started little buying in Europe and more buyers are expected to step in any moment as the downside is very limited as the next big crop will be available only in February 2010.
The sell of in Indian future deliveries have not made any effect on the strict follower Vietnam and Passive spectator Indonesia and they are holding on to their levels not loosing ground because of the huge exports they have made and also have pending commitments at lower prices till the rest of the year are not aggressive at the moment.Although Indian exporters will sell their stocks first if fresh import orders come but good demand will wipe off the entire physical stock from the National Exchange platform at one short.
Be patient:- Good times are round the corner.
Received from "Anonimous"
All the origins were speculating and prices moved up by usd 600 to usd 800 pmt but other than Vietnam and Brazil other producing countries didn't get a chance to sell their superior asta grade at higher prices to the largest consuming country of pepper the United States of America.Now that all origins have cooled off as speculators have lost their shirts and trying to avoid loosing their trousers.Both USA and European Industries need pepper for the last quarter and ist quarter of 2010 have been waiting patiently with the excuse of being away on Vacation has now started to assess the potential danger of postponing the buying requirements and some have started little buying in Europe and more buyers are expected to step in any moment as the downside is very limited as the next big crop will be available only in February 2010.
The sell of in Indian future deliveries have not made any effect on the strict follower Vietnam and Passive spectator Indonesia and they are holding on to their levels not loosing ground because of the huge exports they have made and also have pending commitments at lower prices till the rest of the year are not aggressive at the moment.Although Indian exporters will sell their stocks first if fresh import orders come but good demand will wipe off the entire physical stock from the National Exchange platform at one short.
Be patient:- Good times are round the corner.
Received from "Anonimous"
Friday, August 21, 2009
Is the Bull Party getting over ??
Is the Bull Party getting over ??
The current bull run spearheaded by Indian Casino Players may be extended for another usd 200 pmt locally before they crash it to 13500 levels in September but the bull party which was happening globally following Indian live Casino seems to be getting over as origins like Indonesia, Vietnam and Brazil stopped following the Indian futures and have started doing their things seriously.
With the news spreading that Indian farmgate pepper is trading inr 8-10 per kg than what they are seeing on the screen both Indonesia and Vietnam slashed their prices on asta variety last night to usd 1.43/lb for Sept thru December shipment .
Brazil was concentrating only on nearby sales fearing getting caught on exchange rates was offering B2 @ usd 2650 fob B1 @ usd 2750 fob and Basta @ usd 2850 fob Belem for sept shipments with reported Biz of 200 mt of B1 @ usd 2700 fob Belem from european traders which will create problems and some cooling off in Vietnam as Brazilian pepper is much cleaner than vietnam 500 g/l and 550 g/l pepper.
It looks like in India the demand for home use of speculators are not over for the paper contracts as spot farmgate pepper which is available at147-150 are not being picked up but 161 sept paper contracts are picked up in thousands of tons.Its nothing but rampant speculation which is happening in India with the blessing of the regulator and the volume hungry comex and new generation analysts experimenting technical charts which are not natural charts but made up charts of speculators which will kill many small and medium investors.
Both domestic and overseas buyers are keeping away from the market and the only demand currently is from speculators who are paying huge premiums for sept and oct deliveries there by enticing investors to step in buying spot and sell future deliveries. Most of the locals were praying for 150 levels to happen to get out and some are exiting while greedy ones are waiting to wait for another year to see these levels again if the anticipated demand every one was waiting for doesn't show up.
Jennifer La Rive
The current bull run spearheaded by Indian Casino Players may be extended for another usd 200 pmt locally before they crash it to 13500 levels in September but the bull party which was happening globally following Indian live Casino seems to be getting over as origins like Indonesia, Vietnam and Brazil stopped following the Indian futures and have started doing their things seriously.
With the news spreading that Indian farmgate pepper is trading inr 8-10 per kg than what they are seeing on the screen both Indonesia and Vietnam slashed their prices on asta variety last night to usd 1.43/lb for Sept thru December shipment .
Brazil was concentrating only on nearby sales fearing getting caught on exchange rates was offering B2 @ usd 2650 fob B1 @ usd 2750 fob and Basta @ usd 2850 fob Belem for sept shipments with reported Biz of 200 mt of B1 @ usd 2700 fob Belem from european traders which will create problems and some cooling off in Vietnam as Brazilian pepper is much cleaner than vietnam 500 g/l and 550 g/l pepper.
It looks like in India the demand for home use of speculators are not over for the paper contracts as spot farmgate pepper which is available at147-150 are not being picked up but 161 sept paper contracts are picked up in thousands of tons.Its nothing but rampant speculation which is happening in India with the blessing of the regulator and the volume hungry comex and new generation analysts experimenting technical charts which are not natural charts but made up charts of speculators which will kill many small and medium investors.
Both domestic and overseas buyers are keeping away from the market and the only demand currently is from speculators who are paying huge premiums for sept and oct deliveries there by enticing investors to step in buying spot and sell future deliveries. Most of the locals were praying for 150 levels to happen to get out and some are exiting while greedy ones are waiting to wait for another year to see these levels again if the anticipated demand every one was waiting for doesn't show up.
Jennifer La Rive
Wednesday, August 19, 2009
Comment Re: "Pepper turns hot again as...
Dear Sir,
I'm Ta, a senior trader of pepper for one of five biggest pepper exporters in Vietnam. After reading the article named "Pepper turns hot again as sellers hold back stocks", I see that your figure is rather exact as some official sources in Vietnam except the quantity of cross-border export pepper (to China and Combodia) of 5,000mts. From my survey three weeks ago, five large suppliers in Binh Duong province and one in Chu Se (a largest production area of Gia Lai province) have been exporting white pepper to China and Combodia at quantity of 2,000 - 3,000mts per supplier and total quantity is about 15,000-18,000mts. That means total quantity of black pepper only used for processing above quantity of white pepper is about 20,000 - 25,000mts.
Therefore, the maximum stock of black pepper in Vietnam until July 31th will be 12,000-15,000mts and far lower than figure on your article. Please check the number again and amend correctly so that every one can understand the real situation of the market.
Thanks and best regards,
Mr Ta
Post 18/08/2009
Re: "Pepper turns hot again as...
http://www.peppertrade.com.br/comment9421.htm
I'm Ta, a senior trader of pepper for one of five biggest pepper exporters in Vietnam. After reading the article named "Pepper turns hot again as sellers hold back stocks", I see that your figure is rather exact as some official sources in Vietnam except the quantity of cross-border export pepper (to China and Combodia) of 5,000mts. From my survey three weeks ago, five large suppliers in Binh Duong province and one in Chu Se (a largest production area of Gia Lai province) have been exporting white pepper to China and Combodia at quantity of 2,000 - 3,000mts per supplier and total quantity is about 15,000-18,000mts. That means total quantity of black pepper only used for processing above quantity of white pepper is about 20,000 - 25,000mts.
Therefore, the maximum stock of black pepper in Vietnam until July 31th will be 12,000-15,000mts and far lower than figure on your article. Please check the number again and amend correctly so that every one can understand the real situation of the market.
Thanks and best regards,
Mr Ta
Post 18/08/2009
Re: "Pepper turns hot again as...
http://www.peppertrade.com.br/comment9421.htm
Sunday, August 16, 2009
Re:Who Plays Whom or
who is trying to squeeze whom ??
Who Plays Whom or who is trying to squeeze whom ??
Origins along with the current worlds largest pepper trader are the ones squeezing the shorts and those who need to buy according to the study made indepth by our team who were visiting vsrious origins and major trading centers Singapore,Rotterdam and Hamburg. Actually there is no shortage of pepper till the new crop of india and Vietnam the major ones are not faraway and the current stocks and coming Brazilian crop can take care of normal needs.But the market is played in such a manner and making availability an issue and which can trigger a bull run which will hurt many players in origins and consuming countries.
Oportunities will come and go and one has to watch the market carefully and if needs to buy, buy that moment and dont get caught.Indian futures after august deliveries are planned to be taken to inr 160 by speculators with the help of kid analysts of major broking arms .who will be giving buy calls as their jobs are at stake if they dont get required volumes to keep their jobs intact.
Lets wait and see how the market is going to behave next week where we will be hearing lot of stories from various corners.
JLR
Origins along with the current worlds largest pepper trader are the ones squeezing the shorts and those who need to buy according to the study made indepth by our team who were visiting vsrious origins and major trading centers Singapore,Rotterdam and Hamburg. Actually there is no shortage of pepper till the new crop of india and Vietnam the major ones are not faraway and the current stocks and coming Brazilian crop can take care of normal needs.But the market is played in such a manner and making availability an issue and which can trigger a bull run which will hurt many players in origins and consuming countries.
Oportunities will come and go and one has to watch the market carefully and if needs to buy, buy that moment and dont get caught.Indian futures after august deliveries are planned to be taken to inr 160 by speculators with the help of kid analysts of major broking arms .who will be giving buy calls as their jobs are at stake if they dont get required volumes to keep their jobs intact.
Lets wait and see how the market is going to behave next week where we will be hearing lot of stories from various corners.
JLR
Friday, August 14, 2009
WHO PLAYS (GAMBLES) WHOM ?
Pepper - The Trigger of the Bull run
2009/08/15
The last July 30 an article was published by VietNamNet Bridge , distributed to and re-published by several specialized media, including Peppertrade Website under the original title " Vietnamese pepper exporters sell them cheap".
According many analist the publishing of this aritcle may have triggered the market rush which drove to extreme prices volatility that marked all this week.
Among other bombastic afirmations the article mentioned that VPA Board has predicted that pepper prices would reach U$ 5,000 pmt until the end of the year and suggested exporters to control the sales in order to increase the prices.
Immediately after this publication went out, the VPA board issue a note contesting the facts and the terms of such article, deniyng as false all the infomations of the said article which Peppertrade also published. Unfortunately this Contesting Note did not received the same attention from other media.
Now we got to learn the original report issued upon the meeting of the Executive Board of the VPA held for the evaluation of the first semester of 2009, futures plans and actions and other administrative issues.
The whole document is extense and some parts of it are internal administrative questions, and for that reason we publish only a part of it under the sub-title:
Forecast for the entire months of the year and some key matters
2009/08/15
The last July 30 an article was published by VietNamNet Bridge , distributed to and re-published by several specialized media, including Peppertrade Website under the original title " Vietnamese pepper exporters sell them cheap".
According many analist the publishing of this aritcle may have triggered the market rush which drove to extreme prices volatility that marked all this week.
Among other bombastic afirmations the article mentioned that VPA Board has predicted that pepper prices would reach U$ 5,000 pmt until the end of the year and suggested exporters to control the sales in order to increase the prices.
Immediately after this publication went out, the VPA board issue a note contesting the facts and the terms of such article, deniyng as false all the infomations of the said article which Peppertrade also published. Unfortunately this Contesting Note did not received the same attention from other media.
Now we got to learn the original report issued upon the meeting of the Executive Board of the VPA held for the evaluation of the first semester of 2009, futures plans and actions and other administrative issues.
The whole document is extense and some parts of it are internal administrative questions, and for that reason we publish only a part of it under the sub-title:
Forecast for the entire months of the year and some key matters
No panic trading in spot pepper
2009/08/14
JLR
KochiAugust 14, 2009
The futures market of black pepper does not move in tandem with the real market parameters as there is no panic trading in spot even after futures prices collapsed heavily by almost 10% in 3 days and slightly recovered today at close of business.
Difference between September and indicative spot farmgate pepper prices are still greater at around Rs 800 a quintal according to India Pepper and Spice Trade Association who still dictates spot prices to all media since decades.
It is the low stock in the country that seems to determine the course of action in the market rather than speculative trading in futures.
It is because of this, there are nosellers even after the prices plummetted heavily in 3 trading sessions.
India is no longer a major global player, thanks to low-stock and theLicenced casino Ncdex.The country commands a stock of around 10,000 tonnes which can be consumed domestically during the winter season. But the ongoing bear phase in futures trading has badly hit the domestic demand, said traditional pepper traders of Wyanad and Idukki.
The trend caused a slowdown in the demand from upcountry markets for the time being but market sources expect an improvement once the prices stabilised.
Meanwhile Vietnam which opened today their 500 g/l trades @ usd 2450 pmt have traded it late in the evening to as high as usd 2600 pmt fob hcmc for prompt shipments.
No news from Indonesia today as they are carefully watching the movement and brazilian pepper prices are steady unchanged.
What we lack is consumer buying in india as well as from overseas and the bull rallies will sustain only if that happens according to Mr Jojan Malayil Vice Chairman All India Spices Exporters Forum.
JLR
KochiAugust 14, 2009
The futures market of black pepper does not move in tandem with the real market parameters as there is no panic trading in spot even after futures prices collapsed heavily by almost 10% in 3 days and slightly recovered today at close of business.
Difference between September and indicative spot farmgate pepper prices are still greater at around Rs 800 a quintal according to India Pepper and Spice Trade Association who still dictates spot prices to all media since decades.
It is the low stock in the country that seems to determine the course of action in the market rather than speculative trading in futures.
It is because of this, there are nosellers even after the prices plummetted heavily in 3 trading sessions.
India is no longer a major global player, thanks to low-stock and theLicenced casino Ncdex.The country commands a stock of around 10,000 tonnes which can be consumed domestically during the winter season. But the ongoing bear phase in futures trading has badly hit the domestic demand, said traditional pepper traders of Wyanad and Idukki.
The trend caused a slowdown in the demand from upcountry markets for the time being but market sources expect an improvement once the prices stabilised.
Meanwhile Vietnam which opened today their 500 g/l trades @ usd 2450 pmt have traded it late in the evening to as high as usd 2600 pmt fob hcmc for prompt shipments.
No news from Indonesia today as they are carefully watching the movement and brazilian pepper prices are steady unchanged.
What we lack is consumer buying in india as well as from overseas and the bull rallies will sustain only if that happens according to Mr Jojan Malayil Vice Chairman All India Spices Exporters Forum.
Jennifer LaRive
Wednesday, August 12, 2009
Re: Are The Bears Back ??
I don't think the pepper market is going to be in bear hug again but a much awaited correction especially the cheer leader Indian Ncdex and the followers in other producing countries who ran their prices much faster than a bullet train not allowing anyone to get in and get out.. There is still lot of buying needs to be done from now to the Vietnamese crop so buyers will be stepping in any moment as they have realized that the pepper prices are not going to go back to usd 2200 fob levels for this year any more.
With sales done for June thru sept to USA India and Vietnam mainly the balance available for sales from Indonesia will be maximum from now and new crop according to our friends in Indonesia will be only 5000 mt .The pressure from there also will be very minimal. India will come once in an year for a day or a week showing attractive numbers but suddenly vanish from the scene. Buying at dips recommended for sept and oct shipments as prudent and patient traders will wait for Brazil to come with their crop in the next 8 weeks.
Received from "Anonimous"...
Tuesday, August 11, 2009
Are Bears Back???
It was last Saturday of July 2009 when a report from US renowned broker was sent to the spices traders all over the world.
But this time it had something special, good news for pepper sellers.
The report really made everything active.
The buyers started writing emails, short messages and phone calls to the origin sellers.
Consequently on Next Monday there was a surge for usd50-75/mt in Vietnam.
But the activitiy was not abnormal throughout the week.
In the meantime an unauthenticated report was published in a Vietnamese paper claiming that VPA has advised the exporters not to sell pepper at the current levels and the price might touch usd5000 in last months. They also mentioned that top ten Vietnamese exporters had decided to hold the goods and they got support from a consortium of banks.
The articles contents were not at all logical and it seems that it was published by some people having interest in bullish market.
At the same time Brazilian crop size was re estimated and figure was down sized. Indian players became active and they told that lesser monsoon rains could affect pepper crop in India. It made exchanges highly active and the speculators started pushing the prices on minutely basis.
These all factors were enough to make market crazy.
The buyers started chasing sellers on last Monday and it continued till Monday 10/8.
Origins increased prices on hourly basis. On Monday 3/8 the price for FAQ 500g/l was usd2300 fob and touched usd2600 on Friday.
Friday evening the packers and farmers thought that it was not useful to sell pepper as every day its price was increasing, so they finally decided not to sell.
On Saturday there was very tight position and pepper buyer was chasing the suppliers and they were getting the responses NO PEPPER IN VIETNAM,NO OFFER,FARMERS NOT SELLING, etc etc.
Surprisingly we received a call from a big supplier from Vietnam offering usd2600 fob.
As per our experience this type of call like: One of our supplier needs money that’s why he is selling at lower level: has definitely something wrong means sign of bearishness.
We though that the market will loose momentum on coming Monday. But our guess failed and on Monday 10th of August there was huge upsurge in the price and people started asking usd2950 fob, most of the sellers were not offering. It was really a big shock for the buyers who were waiting for the market to come down and had not taken the positions.
It was also worrying the people who had confirmed at lower levels and had doubts for default.
But Tuesday 11 Th August proved that it was the climax of the drama and 33% upsurge just in two weeks was not a joke.
The price was down by usd200-250/mt and many exporters were calling to say hello hi and were eager to sell. Vietnam market for FAQ was usd2650-75 again.
We think people paid attention to the VPA statement that Vietnam had 25000 mt in hand till the new crop 2010 enters the market. They totally denied the contents of the article published in Vietnamese Paper citing VPA.VPA predicted the prices at the current levels or there might insignificant upsurge in coming days.
Now the question is what’s reality? Why the prices became so high and in such a short time and what’s the possibility in coming days? Is the trend starting on Tuesday a mere profit taking, a correction or the time for bears to dance?
Though it’s a difficult question but if we see supply and demand situation and other factors like crop’s delay in Brazil, Vietnam new crop’s time and relatively thin stocks there, uncovered big buyers in US, the word Correction best suits the situation. The market behaved in abnormal way last week and there was a price surge of 100 or even 200 and 300 usd leaving a gap which must be filled before the next Bull Run.
Muhammad Asif Qureshi
Dynamic International Traders
Pakistan.
asifq82@hotmail.com
J La Rive "Pepper prices due for correction"
Black pepper prices which started moving from 30th July took a breather today in India which was immediately followed in other producing origins as the cheer leader India after the sprint started panting a little.
In less than 30 minutes the Indian Casino which trades pepper hit the bottom circuit level the enthusiasm of the bulls dropped suddenly.The market took pause in 2 stages of the rally at 138 and 145 but the expert opinions of new generation research analysts( some of them even has not seen pepper ) at major commodity broking houses continued to give buy calls giving higher targets for sept contracts. Since the demand was very weak from inside India and from overseas the spot prices did not move in the same fashion in which the future deliveries moved up.The investors were getting Indian rupees 8 to 10 per Kg as spread between spot and sept future delivery prices. Close to 1000 mt pepper suddenly got hedged in the exchange from stockiest and farmers who have been waiting for almost an year to sell and been expecting this levels.
In less than 30 minutes the Indian Casino which trades pepper hit the bottom circuit level the enthusiasm of the bulls dropped suddenly.The market took pause in 2 stages of the rally at 138 and 145 but the expert opinions of new generation research analysts( some of them even has not seen pepper ) at major commodity broking houses continued to give buy calls giving higher targets for sept contracts. Since the demand was very weak from inside India and from overseas the spot prices did not move in the same fashion in which the future deliveries moved up.The investors were getting Indian rupees 8 to 10 per Kg as spread between spot and sept future delivery prices. Close to 1000 mt pepper suddenly got hedged in the exchange from stockiest and farmers who have been waiting for almost an year to sell and been expecting this levels.
When India dropped usd 100 pmt in the licensed Casino without any drop in the spot market the drop in Vietnam was used 250 pmt on shipment prices and used 200 from Indonesia and usd 100 from brazil.The markets in all origins were moving up sharply without any Business worth mention its for sure that the markets are going to crack and break.There were more talk than actual business although an American broking house and a European broking house were adding fuel to the fire with presumed trades being reported.
This market is due for a correction of 10-%in the coming days itself as in India they are nearing the maturity and closing out of August contract as speculators dont take physical deliveries besides lack of export demand and indian domestic demand.
But one shouldnt take it lightly after the correction as we have seen prices zooming without any buying support other than the faq grades from Vietnam from Middle east and Africa. So if the actual demand which is expected to come after summer holidays of both Europe and America, where are these prices going to hit usd 1.75/lb or usd 2.00/lb??
Lets wait and watch patiently
Lets wait and watch patiently
Best Rgds
La Rive ..
Monday, August 10, 2009
PEPPER - SWEET MEMORIES
Weekly Highlights
2009-08-10
Remember last monday ?
"2009-08-04
Market in Brazil today was extremely firm with enquiries poppin in and some trades done reported at 2,550 fob for ASTA."
Well, today Brazil sold reportedly BASTA to US at $ 2,960 pmt And US roported also purchase from Indonesia at $ 2,900 pmt FOB
Other price indications were reported as Vietnam 500 gl up tp $ 2,750 and 550gl up to $ 2,880. Brazil was asking $ 2,750 for B2 and $ 2,850 for B1 while India was said to reach the level of $ 3,300 for MG1. Non-stop breathless climb. Acording some american observers it seems that buyers are supporting this move upwards by purchasing even as quietly as possible some quantities needed for coverage. If this is true it might be considered that the pace is consolidated. For that purpose we publish a note today, about an European report.
Coming back to last monday: $ 400 pmt in one week ! - not a bad deal.
Sweet memories...
Sunday, August 09, 2009
J La Rive discuss teh article "Pepper ends the day extremely firm"
Please find below some comments on selected points of the article Pepper ends the day extremely firm published below
ARTICLE: Pepper ends the day extremely firm here in India with prices soaring to a 12 month high.
COMMENT: Yes True
A - Markets moving on bullish fundamentals and higher outside support, spill over strength from other commodities apparently lending very good support.
C - Market moving only on speculative buying in the Ncdex and there is virtually no internal or external buying support. Spill over from other commodities yes because the platform is designed as a casino.
A - The charge in pepper is led by the lack of sellers on the spot market which continues to spiral on the back of very firm future deliveries and very good buying interest.
C - There are sellers in spot market and takers are very few other than investors who are buying spot and selling future deliveries at a killing differnce from spot to future sept deliveries.
A - Prices on the future deliveries hit the 3 % circuit and closed at the day’s high.
Tight supply conditions continue for spot pepper which is being sought after by domestic traders in particular.
C - There is Plenty supply now as the prices have moved up and it will continue for some more time as many traders and stockists who were caught with inventories between inr 135-140 last year are coming out to get rid of the stocks and convert into Cash
A - Lower volumes in trade hitting the spot scene with most traders not excited with the rise in prices, since much of pepper has already been out of their hands as of now.
Higher markets from other origins act as a spark to fuel the upward surge
C - For how long ? as speculators wont pick up physical deliveries and next week itself we will see a big sell off and prices dropping like 9 pins
A - Indian MG I ASTA grade parity at $ 3100 / 3125 PMT FOB Cochin
C - But who cares indian parity ??
COMMENT: Yes True
A - Markets moving on bullish fundamentals and higher outside support, spill over strength from other commodities apparently lending very good support.
C - Market moving only on speculative buying in the Ncdex and there is virtually no internal or external buying support. Spill over from other commodities yes because the platform is designed as a casino.
A - The charge in pepper is led by the lack of sellers on the spot market which continues to spiral on the back of very firm future deliveries and very good buying interest.
C - There are sellers in spot market and takers are very few other than investors who are buying spot and selling future deliveries at a killing differnce from spot to future sept deliveries.
A - Prices on the future deliveries hit the 3 % circuit and closed at the day’s high.
Tight supply conditions continue for spot pepper which is being sought after by domestic traders in particular.
C - There is Plenty supply now as the prices have moved up and it will continue for some more time as many traders and stockists who were caught with inventories between inr 135-140 last year are coming out to get rid of the stocks and convert into Cash
A - Lower volumes in trade hitting the spot scene with most traders not excited with the rise in prices, since much of pepper has already been out of their hands as of now.
Higher markets from other origins act as a spark to fuel the upward surge
C - For how long ? as speculators wont pick up physical deliveries and next week itself we will see a big sell off and prices dropping like 9 pins
A - Indian MG I ASTA grade parity at $ 3100 / 3125 PMT FOB Cochin
C - But who cares indian parity ??
Rgds
La Rive
Friday, August 07, 2009
Pepper ends the day extremely firm
Pepper ends the day extremely firm here in India with prices soaring to a 12 month high.
Markets moving on bullish fundamentals and higher outside support, spill over strength from other commodities apparently lending very good support.
The charge in pepper is led by the lack of sellers on the spot market which continues to spiral on the back of very firm future deliveries and very good buying interest.
Prices on the future deliveries hit the 3 % circuit and closed at the day’s high.
Tight supply conditions continue for spot pepper which is being sought after by domestic traders in particular.
Lower volumes in trade hitting the spot scene with most traders not excited with the rise in prices, since much of pepper has already been out of their hands as of now.
Higher markets from other origins act as a spark to fuel the upward surge
Indian MG I ASTA grade parity at $ 3100 / 3125 PMT FOB Cochin
Markets moving on bullish fundamentals and higher outside support, spill over strength from other commodities apparently lending very good support.
The charge in pepper is led by the lack of sellers on the spot market which continues to spiral on the back of very firm future deliveries and very good buying interest.
Prices on the future deliveries hit the 3 % circuit and closed at the day’s high.
Tight supply conditions continue for spot pepper which is being sought after by domestic traders in particular.
Lower volumes in trade hitting the spot scene with most traders not excited with the rise in prices, since much of pepper has already been out of their hands as of now.
Higher markets from other origins act as a spark to fuel the upward surge
Indian MG I ASTA grade parity at $ 3100 / 3125 PMT FOB Cochin
BLACK GOLD SHINNIG AGAIN
Black Gold which was neglected and depressed by recession news and macro economic news in the last 5 working days have become the center of attraction once again.
With Vietnam selling off almost everything in the first seven months of the year fearing National Commodity Exchange ( Ncdex) who have taken their trousers off last year did not wait for higher prices sold almost everything they have and now bewildered.
Indonesia who were almost spoiling the party for second half of the year suddenly came to their senses and increased the asking prices very close to Indiam levels.
Malayasia has become an importer of both black and white pepper from Vietnam quitely and marketing as Sarawak Black and Sarawak white to their predominant markets like Japan ,Korea and Taiwan was totally keeping away from major consuming markets like USA and European Union..
India the traditional cheer leader for the first time has become a follower of Vietnam this year and now took the lead in exciting global pepper cultivators, traders and speculators keeping aside pepper exporters and traditional pepper traders always complaining about the poor and backbone less regulator of futures trading FMC..
They just don't know whats the literal meaning of regulation according to Keralla farmers and traders of black pepper.and have made the national exchange a gamblers den and money laundering platform.
According to Ms Yuliani of Putrabali Indonesia every origin has become manipulators and it has become impossible to do any business these days although markets have moved up quite a bit..
When contacted All India Spices Exporters forum vice chairman and the largest exporter of Indian pepper was kind enough to give us his estimate of stocks lying in different origins before the next new crops of India and Vietnam:
Indonesia exportable 5000 mt; Vietnam 40000 mt against just 15000 mt as claimed by some section of the media; 25000 mt from Brazil and 5000 mt from India which includes 2000 mt lying in the national exchanges and balance with farmers/traders.
The stocks of exporters cannot be taken as it is already sold in the national exchanges because of the attractive prices at which you can sell only in India and nowhere in the world.
Current prices of Asta pepper in different origins
Brazil 2700 fob belem
Indonesia usd 2850 fob Panjang
Vietnam usd 3050- 3100 fob hcmc
India Mg-1 asta usd 3050- 3100 fob Cochin
Sarawak Asta usd 3200 fob kuching
Think twice before you leap as some major players feel that it is overdone and not much to the north as industries are taken care by global traders and its their patience which has to be tested and not the industries
Rgds
La Rive
With Vietnam selling off almost everything in the first seven months of the year fearing National Commodity Exchange ( Ncdex) who have taken their trousers off last year did not wait for higher prices sold almost everything they have and now bewildered.
Indonesia who were almost spoiling the party for second half of the year suddenly came to their senses and increased the asking prices very close to Indiam levels.
Malayasia has become an importer of both black and white pepper from Vietnam quitely and marketing as Sarawak Black and Sarawak white to their predominant markets like Japan ,Korea and Taiwan was totally keeping away from major consuming markets like USA and European Union..
India the traditional cheer leader for the first time has become a follower of Vietnam this year and now took the lead in exciting global pepper cultivators, traders and speculators keeping aside pepper exporters and traditional pepper traders always complaining about the poor and backbone less regulator of futures trading FMC..
They just don't know whats the literal meaning of regulation according to Keralla farmers and traders of black pepper.and have made the national exchange a gamblers den and money laundering platform.
According to Ms Yuliani of Putrabali Indonesia every origin has become manipulators and it has become impossible to do any business these days although markets have moved up quite a bit..
When contacted All India Spices Exporters forum vice chairman and the largest exporter of Indian pepper was kind enough to give us his estimate of stocks lying in different origins before the next new crops of India and Vietnam:
Indonesia exportable 5000 mt; Vietnam 40000 mt against just 15000 mt as claimed by some section of the media; 25000 mt from Brazil and 5000 mt from India which includes 2000 mt lying in the national exchanges and balance with farmers/traders.
The stocks of exporters cannot be taken as it is already sold in the national exchanges because of the attractive prices at which you can sell only in India and nowhere in the world.
Current prices of Asta pepper in different origins
Brazil 2700 fob belem
Indonesia usd 2850 fob Panjang
Vietnam usd 3050- 3100 fob hcmc
India Mg-1 asta usd 3050- 3100 fob Cochin
Sarawak Asta usd 3200 fob kuching
Think twice before you leap as some major players feel that it is overdone and not much to the north as industries are taken care by global traders and its their patience which has to be tested and not the industries
Rgds
La Rive
Monday, August 03, 2009
INDIA TODAY AUG 3rd
Pepper continues to move very very firm here in India with prices zooming ahead, International pairity pegged further higher as $ is weak again. Prices finishing off the day almost on the its highs at around + 2.5 to 2.75 % than the previous day. The movements of other spice agri futures were seen with similar patterns hinting at more and more outside participation. These influences were extremely supportive and perhaps sparking off some huge short covering too.
Analysts and traders continued to remain bullish on pepper as inventories remain tight with a lot of buying to be completed, fundamentals for spot pepper remained the same with supply extremely tight although the speed of the surge much faster on the future deliveries than on spot.
Indian MG I ASTA grade parity at $ 2900 PMT FOB Cochin.
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Wednesday, July 29, 2009
Dumping pepper into domestic market a false propaganda
Dumping of imported Pepper into domestic market is a false propaganda to buy pepper at lower prices by a section of the trade shouldn't be taken seriously at all.
The country has imported 6700 mt of Black pepper in the first 6 months comprising of 3000 mt for value added grinding and sterilization and 3700 mt for oil and oleoresin extraction.
The average import is only 500 mt a month and in a market where there is a very tight supply situation and squeeze and prices expected to pick up from august and hit Rs 150/- kg it is senseless to dump this meager quantity into domestic market to depress prices.
The country which is consuming 50000 mt of black pepper every year ( about 4175 mt a month) according to some expert statisticians should have the minimum common sense that even if the entire 3000 mt is dumped by all importers the local prices are not going to be affected as the quantity is very meager to depress prices.
Dumping news is so far emanating only from one source all these days and it is a false news to scare growers and traders and buy pepper at cheaper prices according to major export firms.
With the inside news of disparity between India and Indonesia narrowing down and Vietnam slowly fading out of the Global Pepper scenario it was the move from some unethical traders propagating dumping of imported pepper into domestic market to depress prices and this news should be completely ignored according to All India Spice Exporters forum Vice chairman Mr. Jojan Malayil. Mr Malayil added that farmers/traders should sell only when they need money that badly as the Importing countries coverage is naked for the last quarter and India will get a chance to sell its balance pepper at premium prices.
Current prices in other origin are as follows : Brazil Asta usd 2350 fob Belem Indonesia Asta usd 2550-2600 fob panjang Vietnam asta usd 2600-2650 fob Hcmc and Indian mg-1 asta usd 2750-2800 pmt fob cochin
Rgds
La Rive
The country has imported 6700 mt of Black pepper in the first 6 months comprising of 3000 mt for value added grinding and sterilization and 3700 mt for oil and oleoresin extraction.
The average import is only 500 mt a month and in a market where there is a very tight supply situation and squeeze and prices expected to pick up from august and hit Rs 150/- kg it is senseless to dump this meager quantity into domestic market to depress prices.
The country which is consuming 50000 mt of black pepper every year ( about 4175 mt a month) according to some expert statisticians should have the minimum common sense that even if the entire 3000 mt is dumped by all importers the local prices are not going to be affected as the quantity is very meager to depress prices.
Dumping news is so far emanating only from one source all these days and it is a false news to scare growers and traders and buy pepper at cheaper prices according to major export firms.
With the inside news of disparity between India and Indonesia narrowing down and Vietnam slowly fading out of the Global Pepper scenario it was the move from some unethical traders propagating dumping of imported pepper into domestic market to depress prices and this news should be completely ignored according to All India Spice Exporters forum Vice chairman Mr. Jojan Malayil. Mr Malayil added that farmers/traders should sell only when they need money that badly as the Importing countries coverage is naked for the last quarter and India will get a chance to sell its balance pepper at premium prices.
Current prices in other origin are as follows : Brazil Asta usd 2350 fob Belem Indonesia Asta usd 2550-2600 fob panjang Vietnam asta usd 2600-2650 fob Hcmc and Indian mg-1 asta usd 2750-2800 pmt fob cochin
Rgds
La Rive
PEPPER
24/7/2009
PEPPER ORIGIN HAS INCREASED AND SELLERS ARE NOT AGGRESIVE AS TWO WEEKS AGO.
WE NEED MORE PEOPLE LIKE YOU TO SUPPORT THE MARKET
WERE DEMAND INACTIVE FOR PAST TWO MONTHS BUT SELLER VERY CONFIDENCE
BUYER WILL PICK UP IN THE COMING DAYS AND WILL REMAIN FOR NEXT TW0 - THREE MONTHS STOCKS NEED IT. AS WE SEEING STOCKS ARE VERY MUCH LOW.
INTERNATIONAL SCENARIO,VIETNAM HAS SOLD OUT ALMOST 60 - 70 % OF PEPPER.
INDONESIA MOVED UP BY ALMOST $ 200/MT NOW DUE TO CROP FINISH WITH LEFT
CROP LIMITED AND LOCAL CURRENCY STRENGHT AGAIN US DOLLAR.
I FEEL PEPPER PRICES LOOKS LIKE MOVING UP IN THE COMING DAYS SOON.
THANKS AND BEST REGARDS,
JAMES HADINATA
PEPPER ORIGIN HAS INCREASED AND SELLERS ARE NOT AGGRESIVE AS TWO WEEKS AGO.
WE NEED MORE PEOPLE LIKE YOU TO SUPPORT THE MARKET
WERE DEMAND INACTIVE FOR PAST TWO MONTHS BUT SELLER VERY CONFIDENCE
BUYER WILL PICK UP IN THE COMING DAYS AND WILL REMAIN FOR NEXT TW0 - THREE MONTHS STOCKS NEED IT. AS WE SEEING STOCKS ARE VERY MUCH LOW.
INTERNATIONAL SCENARIO,VIETNAM HAS SOLD OUT ALMOST 60 - 70 % OF PEPPER.
INDONESIA MOVED UP BY ALMOST $ 200/MT NOW DUE TO CROP FINISH WITH LEFT
CROP LIMITED AND LOCAL CURRENCY STRENGHT AGAIN US DOLLAR.
I FEEL PEPPER PRICES LOOKS LIKE MOVING UP IN THE COMING DAYS SOON.
THANKS AND BEST REGARDS,
JAMES HADINATA
Monday, June 01, 2009
STRONG DOMESTIC DEMAND, TIGHT SUPPLY POSITION KEEPS INDIAN READY PEPPER MKT HOT
STRONG DOMESTIC DEMAND, TIGHT SUPPLY POSITION KEEPS INDIAN READY PEPPER MKT HOT
2009/06/01
G K Nair
Kochi, May 31
Strong domestic demand and tight supply position is keeping the spot black pepper prices in India above the June delivery prices of the
exchanges.
Spot price of MG1 was at Rs12,600 a quintal (100 -kg) at the weekend close on Saturday where as the June delivery price at the weekend close was Rs12,320 a quintal.
Availability is said to be very thin.
Domestic buyers from north Indian markets were meeting their requirements by direct purchases from the Coorg Region of Karnataka state where from the material is moved out at Rs125 -127 a Kg to anywhere in India. Similarly, the dealers in Tamil Nadu state was buying from Kerala's Idukki region.
Sharp fall in output in 2008 crop and great domestic demand outweighing the indigenous output would pave the way for increased imports in the coming months as the prices in other origins continued to remain far below than that of the Indian parity. Growers fear that black pepper imported under advance licence for value addition and re-export might enter the domestic market to depress the internal
Meanwhile, Indian futures market during the week witnessed high volatility mainly due to manipulations by the operators who have been pushing up and pulling down the prices under the guise of speculation. Consequently, in fact, the market is shrouded by uncertainty. “In fact, the prices were oscillating up and down without any rime or reason and also without any o-relation to the fundamentals, trading sources told Brazilian Pepper Trade Board. “It is not at all a healthy sign. Real hedgers, be it exporter or domestic dealer, will move out from the market. Similarly, small and medium players are also compelled to go out. Investors are also not coming forward as there is no spot pepper”, they said. “If gambling and manipulation just to make money by a section under the guise of speculation is allowed then futures trading will have no meaning and it will work against the purpose for which it has been introduced”, they pointed out.
All the contracts on the main exchange dropped during the week.
The fall was from Rs264 to Rs342 a quintal at the week end close. June delivery closeted at 12,320 on Saturday.Spot prices also fell by Rs200 a quintal during the week to close at
Rs12,100 (un-garbled) and Rs12,600 (MG 1) a quintal.
INT´L MARKET
Indian parity at the international market ruled above all other origins at $2,650 a tonne (c&f).
Prices of various origins quoted c&f New York in US $ per tonne were MG1 Asta -$2,700-$2,775; Lampong Asta - $2,450; Vietnam Asta -$2,375-$2,400; Brazil Asta - $2,350 fob (nominal parity)
Vietnam white pepper was offered at $3,300-$3,350 and Muntok white pepper at $4,050-4,100 a tonne (c&f).
IPC REPORT
According to the International Pepper Community (IPC) the black pepper market watched on the development in Vietnam as material from this year's crop has entered the market.Local prices at HCMC were down marginally, but fob prices were stable at $1,875 a tonne for 500 GL and $1,990 a tonne for 550 GL. In Lampung, Sarawak and Sri Lanka,
prices were reported up.
WHITE PEPPER
In Bangka, local price eased marginally, by 1 per cent to IDR 36,250 a kg. In Sarawak, prices were up by 2 per cent both for local and fob.
In Vietnam, prices of white pepper were reported stable.
2009/06/01
G K Nair
Kochi, May 31
Strong domestic demand and tight supply position is keeping the spot black pepper prices in India above the June delivery prices of the
exchanges.
Spot price of MG1 was at Rs12,600 a quintal (100 -kg) at the weekend close on Saturday where as the June delivery price at the weekend close was Rs12,320 a quintal.
Availability is said to be very thin.
Domestic buyers from north Indian markets were meeting their requirements by direct purchases from the Coorg Region of Karnataka state where from the material is moved out at Rs125 -127 a Kg to anywhere in India. Similarly, the dealers in Tamil Nadu state was buying from Kerala's Idukki region.
Sharp fall in output in 2008 crop and great domestic demand outweighing the indigenous output would pave the way for increased imports in the coming months as the prices in other origins continued to remain far below than that of the Indian parity. Growers fear that black pepper imported under advance licence for value addition and re-export might enter the domestic market to depress the internal
Meanwhile, Indian futures market during the week witnessed high volatility mainly due to manipulations by the operators who have been pushing up and pulling down the prices under the guise of speculation. Consequently, in fact, the market is shrouded by uncertainty. “In fact, the prices were oscillating up and down without any rime or reason and also without any o-relation to the fundamentals, trading sources told Brazilian Pepper Trade Board. “It is not at all a healthy sign. Real hedgers, be it exporter or domestic dealer, will move out from the market. Similarly, small and medium players are also compelled to go out. Investors are also not coming forward as there is no spot pepper”, they said. “If gambling and manipulation just to make money by a section under the guise of speculation is allowed then futures trading will have no meaning and it will work against the purpose for which it has been introduced”, they pointed out.
All the contracts on the main exchange dropped during the week.
The fall was from Rs264 to Rs342 a quintal at the week end close. June delivery closeted at 12,320 on Saturday.Spot prices also fell by Rs200 a quintal during the week to close at
Rs12,100 (un-garbled) and Rs12,600 (MG 1) a quintal.
INT´L MARKET
Indian parity at the international market ruled above all other origins at $2,650 a tonne (c&f).
Prices of various origins quoted c&f New York in US $ per tonne were MG1 Asta -$2,700-$2,775; Lampong Asta - $2,450; Vietnam Asta -$2,375-$2,400; Brazil Asta - $2,350 fob (nominal parity)
Vietnam white pepper was offered at $3,300-$3,350 and Muntok white pepper at $4,050-4,100 a tonne (c&f).
IPC REPORT
According to the International Pepper Community (IPC) the black pepper market watched on the development in Vietnam as material from this year's crop has entered the market.Local prices at HCMC were down marginally, but fob prices were stable at $1,875 a tonne for 500 GL and $1,990 a tonne for 550 GL. In Lampung, Sarawak and Sri Lanka,
prices were reported up.
WHITE PEPPER
In Bangka, local price eased marginally, by 1 per cent to IDR 36,250 a kg. In Sarawak, prices were up by 2 per cent both for local and fob.
In Vietnam, prices of white pepper were reported stable.
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