SPICES MARKET UPDATE 12TH OCT 2020 – WEEK 42

 

PEPPER 

 

Pepper market remained stable during the past week. Heavy rain in all provinces of Vietnam due to typhoons and tropical depressions, the farmer offered raw material is slower than in previous weeks but prices remain unchanged the whole of the week.

The weather may not really affect the 2021 pepper crop and we need more time to evaluate and analyze. However, due to limited fertilization by farmers, the string of peppercorn was sparse, the phenomenon of sparse string in pepper spreading from almost all key pepper areas of Vietnam. In addition, the price was low while the labor cost increases steadily every year. It will significantly affect the yield for the 2021 crop especially for light berries.

Compared to recent years, October & November is quite sensitive on the price to steady/firmer trend when the inventory has been reducing, selling pressure will be lower than usual. The new season crop 2021 still has 3 to 4 months to start (in mid-January, gradually harvested in Daknong area, but the main crop is still in March as usual). 

Due to the influence of Covid, many different countries reduce buying and not inventories, especially China. If the situation of Vaccine improves and becomes clearer, many countries will increase buying volume in the new season 2021. 

 

We will have another survey pepper crop in Oct/Nov and report will be sent you for reference in next month.

 

 

 

CHECK OUR OFFERS @

https://offers-peppertrade.blogspot.com/2020/10/vietnam-pepper-offer-october-10th.html