Pepper prices reached an all-time high at the end of 2013, to then ease back in early January by about 10% to 15%. The estimate for Vietnam’s new crop towards the end of February, looks set to be a record 145,000 mt or more. With such a good crop for the third year in a row, speculators discounted the current stock and the market fell from highs in December. Currently, the market has bounced by around $200 per mt, as buyers are entering the market and stockists are not selling in large quantities to the exporters.
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