Brazilian Pepper Exporters Expect Firm Trend To Continue In January
Dec 17, 2010
Most of Brazilian exporters will close for holiday season from next week to the
first week of January. Market is not expected to ease for January as there are
some exporters that are short and delaying shipments hopping for a better price
from the producers, latest updates from the Brazilian Pepper Trade Board.
However many repeated enquiries came in creating a sensation that there are many
interested buyers and pushing prices up Pepper trade Board will also close from
next December 21 to January 5th 2011.
Brazilian Black Pepper B1, 560gl for January shipment at U$D 4,850 pmt fob
Victoria January shipment.
Pepper prices have surged to their highest this year, with more upside
anticipated due to a shortfall in global production. White pepper soared to
RM18,800 per tonne and black pepper to RM12,000 per tonne in domestic market
yesterday, said Malaysian Pepper Board (MPB) director-general Grunsin Ayom.
The worlds No. 3 top producer for both white and black pepper, had reported a
more than 10% drop in its recent harvest season due to crop disease, he added.
NCDEX pepper futures jumped further in Fridays trading sessions lead by fresh
buying and short covering amid strong fundamentals. In Fridays early moves,
January pepper moved higher by Rs. 203 or 0.91% to the session high of Rs. 22400
per 100 kg.
The spot pepper jumped by Rs. 200 to Rs. 21300 per 100 kg for the MG-1 and
Un-garbled gained by Rs. 200 to Rs. 20600 per 100 kg on Thursday in Kochi.
Tight supply position amid strong demand in the global market is likely to lead
to strong buying interest in pepper and the prices are likely to remain firm
until the fresh arrivals from major producing nations Vietnam and India are
floated into the world markets.
Source: Capital Market