| Date: |
28-06-2010 |
| Subject: |
Black Pepper Global Market Weekly Review |
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BLACK PEPPER:
The market was steady and prices at sources increased further with the exception of Sri Lanka. There was no selling pressure at origins, although initial crop in Lampung has started. It is reported that export of pepper from Vietnam up to May was considerable and farmers are controlling limited quantity. Under this situation, exporters faced difficulties to accumulate stocks. At HCMC local prices are increasing almost daily. On an average, the price increased by 4% locally and 1% in fob.
In Lampung, price is increasing due to better demand. Trading however was very limited as material from initial crop has yet to arrive in the market. In Sarawak, local prices increased by 3% and 4% in fob.
Similar trend also took place in India, where futures prices are reportedly increased by about 6-8%. Pepper continues to surge upwards fuelled by very firm spot prices and technical strength. Markets have inched forward with reasonable upward moves each session since the past 8 days. Tighter spot prices have been the hallmark of the recent buoyancy and have dragged the futures alongside.
In Sri Lanka, pepper price at growing areas decreased marginally by 1%. It was reported that fob price of Sri Lankan black pepper at Colombo stood at SLRs. 418.70 per kg (USD 3,695/MT) during June 2010.
WHITE PEPPER:
Local prices of white pepper at sources increased marginally. Fob price in Sarawak increased by 3%.while in Bangka and HCMC, stable prices have been reported.
Source : India Infoline
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