Viet Nam
According
to preliminary data of Vietnam Customs, pepper exports in June 2020
reached only 20,449 tons, less 9,902 tons, a sharp decrease of 32.62%
compared to the previous month and down 10,236 tons, or 33.36% less than
the same period last year 2019. The pepper export turnover in June
reached $47.17 million, down $13.74 million, or 22.55% down from the May
2020 and down $28.04 million, or 37.28% compared to the same period
last year.
Accumulated
export volume of pepper in the first 6 months of 2020 reached 166,812
tons, down 10,046 tons, or 5.68% compared to the export volume in the
first 6 months of 2019.
The average export price in June 2020 reached $2,306/ton, up 14.95% compared to the average export price of May 2020.
The
same export, Vietnam imported a sharp decrease compared with 2019 when
total quantity only 14,899 tons of pepper, including 11,283 tons of
black pepper and 3,616 tons of white pepper. Compared to the same period
in 2019, import volume decreased by 34.3%. Vietnam imports pepper
mainly from Brazil, Indonesia and Cambodia. In which, the import from
Brazil was 100% black pepper with 5,802 tons, down 34.9%; imports from
Indonesia reached 5,528 tons (of which 2,057 tons were black pepper and
3,471 tons were white pepper), down 50.4% over the same period.
Until
July 20th, 2020, Vietnam exported 9,942 tons of pepper and is forecast
to export 16 - 17,000 tons in this month, bringing the total export
volume in the first 7 months reached 183,812 tons (first 7 month 2019
exported 203.737 tons).
Pepper market in week 30th 2020 has increased slightly by 2% compared to week 29. The main reason is that exporters focus on covering raw material to ensure time shipment has been done before.
In general, demand in week 30th more than week 29th when many different countries have gradually increased production again after a long time restrained due to Covid 19 (especially EU/India). Demand is still quite slow but many requests from the EU/US for long shipment orders from Q4/2020 until the end of 2021.
The market is still quite sensitive and the price trend is likely to be quite stable in the near future.
Brazil
Almost
the same previous week when only possible to offer very limited
quantities but not for prompt shipment. Delivery time is mostly in
September/October as a seller option. We can foresee Vietnam exporters
will not be hedging raw material from Brazil from now.
Indonesia
Currently
harvesting but less offered. Prices are still higher than Vietnam both
black and white pepper especially muntok white pepper.
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