Dear Our Beloved Buyers. It would be a great time to send you all some update about our market of some spice products now. Let’s take a look over this article to a clear view and hope we can support your plan of importing products.                

                                                                BLACK PEPPER.

The past few weeks we have seen an unusual change in the price of this item. It is customary to start a new pepper crop after the Lunar New Year, but it does not apply to 2021 crop. Prices increase continuously day by day and hourly. Many importers ask a few questions such as: Why are the prices of Vietnamese pepper so crazy? Where are my containers ordered to be delivered on time?

As for the suppliers, the questions are? "How many goods will we be able to collect?, How to deliver goods on time to customers?

Many questions will be asked from both suppliers and buyers. But in short, our question might still be

"When will pepper prices stabilize?" My blog post today will give you some insight into the upcoming market.

Within 1 month (from February 17, 2021, to March 14, 2021), the price of pepper has increased by 65%.

This is a crazy number if we compare to the previous increasing of price in July 2020

Reason:
1. Many farmers are at a loss even at this price due to having a poor crop, almost all consider storing pepper. Farmers and domestic agents prefer to sell other agricultural products like Coffee to cover temporary costs and store as much as they can. From their perspective, pepper is the most attractive to invest in compared to other agricultural products. Some rich farmers even buying from others to stock continue. Also some people said that the price can go up to 100.000VND/kg  (4.34$/kg) That makes people have the intention to keep the goods in the warehouse, wait for the highest price increase and then sell, the less pepper is offered to the market.
2. Pepper's price is at an attractive level has stimulated many exporters/domestic agents to buy stocks. Especially, there are large enterprises with FDI capital actively participating and pushing the market up sharply in the last time. Pepper harvesting fully swings in all areas in Vietnam however it is not easy to buy in bulk.
3. China and Domestic speculators buying very aggressively after Lunar New Year. Demand coming from Middle East/India for March/April shipment. USA customers are more interesting to cover full-year shipments but processors/exporters hesitate to offer further shipments.
4. Several exporters are big short and have been buying raw material in secret in order to ensure shipment on time to the buyers.

These are the reason make the prices of pepper going up. As far as I know we don’t think the price can go down this month or even the beginning of next month.

                                                            Cassia And Star Anise.

1. Star Anise.
   This has also been a super unusual year in terms of prices for this item. Every year when the season comes, the price is always in the range of 6-7 $ / kg, but this year is a different story. The price of genuine spring flowers is still increasing and the price as of today FOB Haiphong is $ 16,500 / MT, while for the average quality flower flower, the price is 13200 $ / MT FOB Haiphong.

The reason for the high price of anise is that pharmaceutical companies in China, or Chinese traders have come to the anise gardens of Vietnamese people to buy since the crop has not yet started, and the anise has not yet grown. This makes the number of anise flowers extremely scarce on the market and pushes the price of anise sky high.

 

 2. Cassia Cinnamon.

The new season of cinnamon is about to start, currently the weather in the northern part of Vietnam is not yet sunny, so the time to harvest cinnamon is not ready.The weather forecast shows that next week the sun starts to come and some families can start to try harvesting and drying cinnamon.Cinnamon prices in April and April are likely to drop.The amount of cinnamon will be much.

=> In general, due to the prolonged effect of Covid, many goods and services have been related, causing prices to change irregularly.Currently Vinapro still has enough goods for customers with good prices, contact us immediately to get the best price for you.

 

 

Your Faithfull
Vinapro Team