Spices

Pepper increased sharply over the weekend in Vietnam. FAQ 500 g/l material is around $5900 pmt FOB HCMC and 550 g/l around 6200 pmt FOB HCMC. These are the two key materials used for making the Whole black re-cleaned, cracked and white pepper.

The main reason cited by major processors in Vietnam is the cash rich position of the farmers…ie;, they do not need to sell.

India remained stable over the weekend, so this price increase from Vietnam brings Vietnam roughly…

The market is falling and fast ! Plantings took place in Sept 2010 and harvest is expected to be in May. It is estimated that Chinese farmers planted an extra 20% acreage in Sept. With good rains in the last 4 weeks, yield is expected to  be good. First shipments of new crop should take place in June this year. Expect further weakness ahead of the May new crop. If all turns out to be as Chinese traders are speculating…

Prices over the past  two months have eased back, primarily due to the instability in the Middle East. Major buyers in Saudi Arabia, Bangladesh, Singapore and UAE ( Dubai mainly ), have cut buying, thus triggering sellers in Guatemala to reduce prices. Although technically supply is tight, with low demand, prices are easing. Whole Greens are difficult to buy locally in Guatemala. MYQ is becoming more abundant, so prices are substantially off the peaks of $21 / kg a few…

Pepper markets are firming. The obvious leader setting the tone is, Vietnam. Over the last few days, Chinese buyers have been pushing to buy black pepper for immediate delivery – certain growing areas have had unusual rains for the last 8-10days which is slowing down some of the harvesting – the weather forecasters advised that these rains might continue for another week or so. – the VND has regained value viz USD of about 3-4% over the last couple of weeks –…

Market continues to be very difficult. Supply is tight, aflatoxin / Ochratoxin issues and now biphenyl issues.  

I hear that farmers in Eastern Europe planted in Feb, but due to oor weather ( wet and cold ), seeds were destroyed and farmers are switching to sowing other high grossing crops. This will lead to less acreage under coriander, at least in Eastern Europe. Indian prices eased back from highs last week, but traders feel this year will see a strong market from here onwards