Monday, July 06, 2020

SPICES MARKET UPDATE 6TH JULY 2020 – WEEK 28




PEPPER

Viet Nam

Pepper export in June reached 25.000 tons, valued at 56 million USD, down 17.6% in volume and 8% in value compared with May, 2020. It also decreased by 18.5% in volume and by 25.5% in value compared to June 2019.
The average export price of pepper in June reached 2,240 USD/ton, up 11.6% compared to May, but down 8.6% compared to June 2019.
From January to June 2020, pepper export reached 172.000 tons, value 365 million USD, down 2.9% in volume and 19% in value over the same period in 2019.
In the first 6 months of 2020, the average export price reached 2,127 USD/ton, down 16.6%  compared with the same period in last year 2019.





Market slow since last week with very little demand from overseas customers. Almost kept watching. China/USA/EU customers are very quiet and we have not seen any activities through border trade last week. However, the market is still in uptrend with increased price 50$/ton in week 27. Vietnam exporters/processors covering third quarter shipment in silent.  
Some demand for long time shipment (fourth quarter and 2021 shipment) but we heard all exporters withdraw.

Brazil

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

Indonesia

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











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