The
market has fluctuated throughout the week. However, at the end of the
week 23, the market is still in an upward trend of nearly 2% from 54,000
VND on 1st June and remained stable at 55,000 VND today. The
domestic collectors continued to offer in small quantities and was
hesitant in a tension between many exporters and domestic
collectors/middleman.
After
the price has changed dramatically in the last 2 weeks, the current
price trend has become stronger and set a new price on the market.
Oversea customers bought orders and looking for new inquiries in the
third and fourth quarters 2020. However, the exporters was very cautious
and only offer spot/prompt shipment instead of forwards shipment as
before. Vietnam currency is still stronger trend than USD making Vietnam
pepper price also higher.
Other information for your reference;
- In 2006;
pepper price remained stable from January to May at 860 USD/MT.
However, within 3 months, pepper price increased by 115% to 1,850 USD/MT
(convert at current exchange rate).
- In 2011;
the price of pepper at the beginning of the season was 4,340 USD but by
the end of December it reached 7,122 USD. Increased 64%.
- In 2013 & 2014; the pepper prices at the beginning of the season reached 6,281 USD but increased 48% to 9,315$ in December.
2020;
Pepper prices still were at a loss for many farmers in this crop, a lot
of farm households cut their pepper trees and converted other
agriculture product. Currently, prices with increasing tendency have
also stimulated farmers to take more care in their pepper plantation.
However, the drought situation and many farmers who have changed to
another product/cut their plantation not only in Vietnam but also other
countries such as Indonesia/Brazil/Cambodia…We have a forecast that
total crop production in 2021 will be significantly affected.
We
will have a tour to survey the situation of pepper crop 2020 again from
June 9 to June 17, 2020 and we will try to collect information to
update you with the details in July.
WHATSAPP +5511988027709
MAIL manager@peppertrade.com.br
TWITTER : https://twitter.com/peppertrade
CHECK ALSO OUR BLOG OF OFFERS - https://offers-peppertrade.blogspot.com/TODAY´S JUNE 08 OFFER:
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