UPDATE - VIETNAM PEPPER PRICES FEB 22

 

February 22, 2023|Black Pepper Offers, Vietnam Market Update

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This week, China is buying slowly, people expect the price will come down a little bit but today, prices are increasing again and the market is still very firm.
Pepper from a new crop is still coming out the market slowly.
Daknong, Baria, Dong nai are going to finish harvesting, while Daklak , Gia Lai are starting harvesting from the end of Feb.
This time, not only China buys, local collectors and speculators are buying also , because they saw that this year's crop is not quite as good as expected, so they keep stock and wait for a higher price. But this time, we see that buyers from EU, US… are in waiting mode for lower prices.

Pepper price has been increasing everyday since the end of Jan, and it already increased 15 %.
This time, it is hard to advise you to buy or wait more.
Let’s buy step by step and based on your demand. We think that, price will be hard to decrease from now to the end of Feb.
Market is very firm this time.

Today price as below:

BLACK AND WHITE PEPPER:

-          500 FAQ: 3,100 usd/mt
-          500 cleaned: 3,360 usd/mt
-          550 cleaned: 3,420 usd/mt
-          570 MC: 3,500 usd/mt
-          5mm: 3,600 usd/mt
-          WP new technology: 4,880 usd/mt

-          500 steam sterilized: 3,640 usd/mt
-          550 steam sterilized: 3,720 usd/mt
-          5mm steam sterilized: 3,840 usd/mt

-          550 cleaned EU complied: 3,440 usd/mt
-          570 cleaned EU complied: 3,600 usd/mt
-          500 steam sterilized EU complied: 3,740 usd/mt
-          550 steam sterilized EU complied: 3,830 usd/mt

FOB Ho Chi Minh- Prompt shipment- subject to reconfirm 

https://brazspice.com/

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CARDAMOM - Guatemala in line to export around 55,000 MT for the 22-23 Season

 

Please read the short report/comment we received of an operator ofCardamom in Guatemala

Hello friends, looking forward to seeing you again next week, wanted to share this message to give you clarity to take better decisions. Look for us in stand Z6-24.

As of today Guatemala has exported 26,000 MT and by month end we’ll reach 30,500 MT… this is 9,000 MT more than last season (43% more). This figure is an all-time record, not surprising given that we have reached record monthly numbers in Nov, Dec, Jan, Feb. February alone is likely to double its average volume.

We believe next three months will be records as well and by April exports will be reaching above 43,000MT with 5 months to continue exports and product still in the fields. So we will reach 55,000 MT. 

Most of the 43k is already in the hands of exporters and although we have already passed the peak of the production cycle, there is and will continue to be cardamom in the fields over the next months. 

A 55k record crop is 20% higher than last year’s previous record crop, not small by any means. We see with a bit of concern the recent price increases and the messages being circulated, as we reach last crop’s price levels and while minimal volumes from this season have arrived at destination. 

We are very happy for our clients who bought during the first half of the season at lower levels and are looking now at good profits. However, we should tread with caution at these levels.    

As for what is pushing Indian prices higher…