I
PEPPER;
The international pepper market last week recorded a positive outlook, all domestic markets reported a stable and upward flow.
In particular, pepper prices in India have maintained their upward momentum in the past three weeks. In Indonesia, both black and white pepper products are stable despite less volume available on the market. Brazil last week also increased prices and very less raw material was offered. Currently, prices of Brazil and Indonesia continue to be higher than Vietnam in the range of $300 - $350 per metric ton.
Vietnam's pepper market last week had many mixed responses due to the decrease in buying demand of exporters. However, at the end of the week, prices continued to increase slightly due to China buying, so prices remained basically unchanged throughout the week.
The opening price at the beginning of the week 23rd kept an increase and very few offered on the market. The main reason is due to good demand coming from China / USA / EU / ASIA… especially China being more aggressive to cover raw material from the past week. In addition, after a very long time banner pepper from Vietnam that the Nepal government gave a quota to importer. The demand suddenly increased in Nepal last week for pepper so this market will be efficient again soon.
Through the survey crop situation, we see that the remaining amount of pepper in farmer's hands is not much now. During the past 2 weeks, the quantity of materials offered for sale is quite small. Currently, farmers' inventories are mainly concentrated in households with good financial conditions and there is almost no pressure to sell if the market comes down.
The continuous increase in coffee prices over the past time has stimulated farmer / collectors to stock up on pepper when the new crop 2022 is still next 7 months while inventories have decreased sharply in the first 5 months of 2021 (exported around 121.000 metric tons already)
Currently, pepper prices in Vietnam are still the most attractive, so the demand for the whole market continues to increase. The USA / ASIA / EU for Q3 & 4 production orders will continue to increase in June & July is foreseen.
The epidemic Covid-19 control situation in Vietnam's major cities has gradually improved. However, the circulation of raw material such as production materials / production / domestic transportation of many factories is also affected. This will also be a possible cause for the situation that goods will have periods of disruption in domestic supply.
Exporting companies and domestic agents mostly have inventory, but it is sold out in big quantities already for forward shipment. We still forecasted that it will not be enough for the demand from now until the end of the year. Therefore, the market trend is still stable and is likely to increase in the near future.
We would like to send you the price of pepper from January 1st , 2021 to May 31st , 2021 as follows for your reference.
Other information about international freight rates;
Currently, it continues to increase and it is difficult to get bookings for routes to the US / EU. Freight are forecasted to continue to move sideways or increase in the last 6 months of the year.
I would like to give you an indication price CASSIA based on NET FOB HCM as follows:
https://offers-peppertrade.blogspot.com/2021/06/vietnam-cassia-prices-june-7-2021.html
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