
13 Apr 2009 - Pepper market turns off bottom
The rapidly strengthening Brazilian Real against the US Dollar is encouraging shippers to increase their prices. Few exporters appear to be holding stocks and the little business being done out of Brazil recently seems to be motivated primarily by the need to fulfil ACC (advance currency contracts) obligations with their banks.The current rates for ACC are between 12% and 16% per annum, but as previously, the Brazilian banks continue
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