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Increase in Prices for Black-Pepper, Sugar, Cotton

September 2, 2009 at 20:56 by Vladimir Vyun

Black-pepper prices may jump as the global economic recovery boosts demand for commodities. Floods in pepper-growing areas in Brazil, the third-largest producer in the world, may have negative impact on the harvest, and the yield in Vietnam, the biggest supplier, may not be enough to meet rising demand. Wholesale prices at the Port of New York climbed to $1.52 per pound last week, up 32 percent from $1.15 on April 9th; by January 1st pepper may reach $1.70 per pound.

Lack of investments into the sugar industry in the Brazil, the world’s biggest producer and exporter, prevents sugar producers to increase capacity and benefit from the high prices. Considering sluggish production in Brazil, as well as a shortage in markets from India to Egypt, a global supply deficit may be expected. October delivery for raw-sugar climbed 1.9 percent to $0.2485 per pound on ICE Futures U.S. yesterday.

Cotton prices rise on speculation that demand from textile mills will be spurred by yesterday’s slide. “The textile mills kind of wait for it to dip, buy into the declines when they stabilize,” said Andy Ryan, a risk-management consultant in Nashville, Tennessee, for broker FCStone Group Inc. December futures for cotton delivery gained $0.004 (0.7 percent) to $0.5875 per pound by 11:55 on ICE Futures U.S. in New York.

If you have any questions and comments on the commodities today, use the form below to reply.

2 Responses to “Increase in Prices for Black-Pepper, Sugar, Cotton”

  1. george

    I would like to have your market news letters

    .thanking you in advance

    [Reply]

    Andriy Moraru Reply:

    Please subscribe using the form above. It should be working now.

    [Reply]

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