Pepper market update
December 18, 2020 | 0 Comments
Vietnam exports from January to November 2020, estimated at 263,000 MT valued at US$596 million. Vietnam Pepper crop for 2021 projected closed to 200,000 MT with a carryover stock of round 40,000 MT.
Brazil exports from January to October 2020, estimated close to 74,500 MT valued at US$149 million.
Vietnam pepper FOB HCM prices this week are at $2525/MT for 500 G/L FAQ, $2700/MT for 500 G/L MC, $2775/MT for 550 G/L MC, $2810/MT for 570 G/L ASTA, $2950/MT for 5MM BOLD and $4150/MT for 630 G/L Double washed white pepper. Indicative price for Brazil ASTA grade at 2750$/MT FOB for January 2021 shipments. Indication for Lampung Black Pepper 550 MC at $2850/MT FOB and ASTA at $2900/MT FOB.
Freight rates continue to remain high due to shortage of containers, rates to EU and USA have almost tripled. This can be expected to continue till early next year.