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Weekly Highlights
2008-06-21


Pepper in Brazil is facing a very disapointing year. From January to May 2008 only 13,000 mt were shipped compared to 17,400 mt last year.
May was even worst with just 1,263 mt shipped. Last year´s May showed a regular move of more than 4,000 mt.
While Para state mantained its regularity the problem seem to be with Espirito Santo crop this year.
Nevertheless the growers and exporters still mantaining the price levels, actualy at the moment, only second to India prices.
Prices in Brazil are still at around 3,350 pmt for B1 560 gl while Vietnam offers somewhere in between 3,000 - 3,100 the 550 gl.
USA who traditionaly imported from Brazil switched this year to Indonesia and apparently have its needs covered for the next months.
The new brazilian crop which starts end of July and peaks in September is said to be good with an estimate of around 35,000 - 40,000 mt.
But if Vietnam will mantain its present prices policy brazilian prices will have to come down sharply if they want to sell.
However. at least for the moment, neither the exporters nor the growers seem to worry about.

CLOVES
In the last weeks an apparent interest is building for brazilian cloves.
Priced presently at around U$D 4,200 pmt fob, the trend may turn bullish if this interest persist.

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Today from Cochin
Monday June  30, 2008
Pepper drops in India as buyers wait n watch for the time being, although sellers are not pushing lack of demand tiring sellers and this causing the prices to weaken.
Sellers could be found for Indian MG1 at $ 3450 PMT FOB levels, perhaps evein lower against a firm bid.

Monday June  23, 2008
Pepper drifts in India with lack of offtake hitting prices,still India continues to be most competitive on asta grades,looks like Indonesia, Vietnam and Brasil will have to sharpen their edges to effect some sales for their current crops.
MG1 asta at $ 3425 pmt fob cochin.

 

COMPARATIVE CHART FOR BLACK PEPPER PRICES BEHAVIOUR  2007 (YELLOW) AND 2008 (BLUE)

Average prices mix of Brazil, India and Vietnam from Peppertrade databank

 

 

Spices  June 28  2008 Market Commentary 
Spices counter traded on a mix note during the previ-ous week. On one end Jeera and Turmeric showed made new highs, whereas on the other end Pepper and Chilli made new lows.

Jeera prices showed good upside on the back of low arrivals and overseas demand has been shifting to In-dia. Furthermore, there have been crop concern in Tur-key which is about to harvest its crop in next month.

Even in case of Turmeric prices showed good upside on the back of lower arrivals and lower production esti-mates. Furthermore, expectation of good overseas demand from Japan and Middle East in days to come.

Whereas Pepper prices in domestic market showed tad weakness due to halted demand in domestic as well as overseas buyers. Prices dipped to Rs.141/Kg from Rs.144/Kg during the previous week as a result of which futures prices showed weakness. Even in Malay-sia local prices dipped by almost 2% (.i.e.) from 9,400MR to 9,213MR. But Vietnamese local prices reportedly holding steady at 46,000DONG.

And in case of Chilli prices drifted down due to arrival pressure in the spot front. Spot market opened after 50 days and arrivals were reported to be at 30,000-40,000 bags on daily basis. But prices did not slump heavily as peop0le are expected good overseas demand coming to India, especially fro China as its crop has been re-portedly being damaged due to recent floods.

 

Alimuhammed Lakdawala 
Analyst AnandRathi Commodities
.

Read the full report by clicking here...

Read the previous reports...

 

WPB Week #26/08, 23–27 June 2008  

BLACK PEPPER: The market indicated a bearish sentiment and mixed. In India, there were some activities in the Commodity Exchange, particularly for August contract and prices fluctuated with a declining trend. On Thursday, June 26 however, the price rose on a tight supply situation as farmers refrained from offloading their stocks and also influenced on a price rise in Vietnam. On average, prices at Kochi declined by around 1-2% from last week. In Vietnam, prices of raw material at Daklak stood at VND 45,500 per kg this week, an increase of VND 1,000 from last week’s close. In Sarawak, local prices dropped by MYR 175 per mt, while FOB prices eased by USD 100. In Lampung, the market was very quiet and local prices were reported down by 2%. In Sri Lanka, producer’s prices of black pepper eased marginally by 1%.

read more...

 

The further access to the full article is granted to the IPC subscriptors

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News

Vietnam to help ease pepper mkt
2008/06/21-FE

IMPORTS INTO USA
2008/06/21-Peppertrade Editor

Spices Short Term Outlook - PEPPER
2008/06/21-AnandRathi Commodities

Vietnam - Pepper Exports May Drop on Rate Increases
2008/06/20-VN Business News

Analisis:
Current pepper situation in india VS other producing countries

2008/06/19-From India

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BRAZIL
PEPPER PRICE AT GROWERS

U$ 2,80

DOLAR
R$ 1,61
PRICES LONDON CFR 21/04
COMMOD DATE PRICE
  SPOT
BRAZ BB1 21/04 U$ 3,900
INDIA MG1 21/04 U$ 3,900
SARW BFAQ 21/04 U$ 3,850
VB 550 21/04 U$ 3,800
LAMP 500 21/04 U$ 4,150
     
BRAZ W1 - - -  - - -
VIET DW 21/04 U$ 6,000
MUNTOK W 21/04 -- --
SARWK W 21/04 U$ 5,800
CHINA W 21/04 U$ 5,500
 
- Vietnam preview 2008
 
-IPC Report 2007

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SPECIAL REPORTS FROM ANADRATHI - INDIA

PEPPER QUARTERLY 01-08
CUMIN SEED 01-08

 


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SOURCES
Peppertrade publishes information obtained through talks, discussions and public reports and Internet sites,  mostly from:

 ABEP /  Spices Board India /   Pepper Marketing Board   Malaysia /   IBI Spice - US /   Dynamic Int'l Traders  Karachi PK  
   IPC Int'l Pepper Community  /   ITC-IBD Group India /  A.A.Sayia & Co.- NY /   John H. Elton - NY  /   Ludwig Mueller - NY    
 Jaymeagh Spices - India     Anand Rathi Commodities  /    SHENG KIMN HONG SDN.    BHD.- Malaysia /  Monthira Trading Co. - France 
VPA - Vietnaml  /   RuralNews - Brazil  /   SNA - Brazil  /   eAgritrader.com / ALICE WEB
Brasfoods / Olam / Mondial I´ntl Trading Agencies / Amberwood Trading /

Among other traders, brokers and agents of the industry 

 
 
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