VIETNAM SPICES MARKET UPDATE 7TH DEC 2020 – WEEK 50

 

PEPPER

Vietnam exported reached 21 thousand tons in November, 
worth $ 53 million, down 4.5% in volume and 1.1% in value compared to October. 
However, compared with November 2019 increased 23.6% in volume and 33.5% in value. 

In the first 11 months of 2020, pepper exports were estimated at 263 thousand tons, worth $ 596 million, down 1.7% in volume and 11.5% in value over the same period in 2019.

Average pepper export price in November was estimated at 2,543 USD/ton,
up 3.6% over October and up 8.1% compared to November 2019.

In the first 11 months of 2020, the average export price of pepper was estimated
at 2,268 USD/ton, down 10% over the same period in 2019.

Pepper prices last week, after increasing by 5%, had corrections
down by 3% for the 49th week.

The main reason was that exporters had covered enough production orders for November shipment. In addition, the situation of freight to other countries continues to increase and it is difficult to get the booking from shipping agent, which has caused the cargo to stuck at the processor and at the port.

Most are waiting for the cost freight adjustment in December, but as information we received, the freight will continue to remain at a very high price in the next 2-3 months at least.
There is a shortage of empty containers and a sudden drop voyage from Vietnam to other destination is seriously.

 

We would like to send you flowchart Vietnam Pepper first 10 Months 2020 as below;

 

 

2/ CASSIA; 

 

Market steady/uptrend continuing in the short term even demand slow because new crops still have to wait until the next 4 months. Stock in tight situations, farmers/collectors  not prefer to offer in bulk.

 

3/ STAR ANISE;

 

Demand very slow especially from China and market correction 15% within 2 weeks. Buyers hesitate and not willing to pay at these level.

 

4/ TURMERIC;

 

New crop will be starting next month and we can offer you different grade with low/high curcumin standard such as TURMERIC FINGER/POLISHED TURMERIC FINGER, TURMERIC POWDER, TURMERIC SLICE SUN DRIED, WASHED TURMERIC SLICE SUN DRIED, TURMERIC SLICE MACHINE DRIED...

 

 CHECK FOR LATEST PRICES & OFFERS HERE:
https://offers-peppertrade.blogspot.com/2020/12/vietnam-spice-offers-december-7-2020.html