Vietnam; Pepper market after being stable for 2 weeks, has shown more signs of bullish trend when prices have increased by about 40 - 50$/MT in the past 2 days.
Currently, the pepper harvesting spread all area in Vietnam, but it is expected to peak season arriving in next 2-3 weeks. However, Due to the low price of pepper, many farmers have lost money, they do not take well care and focus on harvesting as in previous years.
Many farmers harvesting by themselves instead of hire worker to reduce their labor costs. This will take to longer harvesting times than before and raw material of new crop to the market is very slow.
Most of the farmers only sell raw material as little as possible and this year's storage trend is much bigger than before. Although it is in pepper season that not easy to buy large quantities like before.
Exporters still have to covering raw material for February/FH March shipment so the price trend maybe stable in the next 1-2 weeks is foreseen.
The low price has also stimulated several agents, collectors as well as traders to buy more and stockpiling.
China; The borderline continues to close, but both governments Vietnam and China have regulations to make goods exchange and trading more favorable than before. We hope the Corona Virus will be shut down soon and the border trade will going smoothly in the next weeks.
India; We heard market firmer, Malabar black pepper an increase of 1% as compared to the previous week.
Indonesia; Black and white pepper was reported stable.
Malaysia/Srilanka; Black and white pepper with a 2% and 1% easier to the previous week
Brazil; Market uptrend, farmer/exporters hesitate to offer with discounting on the price. Stock we heard less and limited to offer March/April shipment.
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