Local market keeps firming up daily thus far. Those who were in short finance already sold out their stock couple of weeks earlier. "The other ones could be able to build stock for longer! " said a local trader. The resistances against downtrend of pepper at local levels are now taking places remarkably. How long they can bear, how far they can fight to bullish the pepper market is a question but they really did great efforts. The exporters themselves also need supportive developments from these current prices. Otherwise their high-priced shipments which are sailing to or landing at some destinations could be in trouble of picking up (same stories happened last year when there was a fluctuation of $1,000/MT more or less during Mar/Apr 2017).
Buyers, depending on their stocks and targets, could keep watching but there are probably $150-200/MT different among buyers' interested levels and the local spot prices. On the other hand, USD which is being stronger against VND, somehow restrains the hiking up of FOB prices.
Export prices today are ranging:
- VBP 500 FAQ @ 2700-2750 USD/mt
- VBP 570 ASTA @ 3000-3050 USD/mt
- WP @ 4250-4300
April/FH May shipment subject to Seller's final confirmation.
Packing: 50kgs net per PP bag.
Your inquiries/counter-bids or market information exchanging, discussions are mostly welcomed anytime.
Please feel free to contact us.
Ngoi Nha Hat Vietnam Co., Ltd.