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.
Andrew Barker
An international food broker, with main activity in spices and herbs.