Pepper Market Report Week 44 – 2023

 

As market struggles to find support overseas, Vietnam was reportedly seen with a decline last week by 1,4% for raw material. However, over the weekend, China reappears prompting market to firm up a bit at today’s opening. Exporters remain on a sideline as USA and EU demands are still elusive for spot coverings as most seems to be eyeing now for new crop next year.

Indonesia – speculators last week are in a market to sell as prices also are seen softening a bit with depreciating local currency that has been beaten by negative sentiments since last month. But then Muntok stock position is not that promising, with a volume that could be just good enough for local consumption. 

Brazil although price is supportive compared to others, origin’s current state is not sitting well. The country is now in midst of experiencing severe drought in history due to lack of rain. It is much worser in Amazonas as its port Manaus had dried the water to even allow ships to dock. Para’s crop reporting crop failure and although ES is still surviving, the domino effect of the whole situation very soon can cause more shipment delays and cancellation which these days has been a dilemma by almost all exporters. 

Royal Golden Trading, Dubai

The 51st Annual Sessions and Meeting of the IPC

 

THE DATE IS APPROACHING, ONLY 15 DAYS LEFT TO SAVE USD150!!! MAKE SURE YOU DON'T MISS YOUR SPOT AT THE BIGGEST GATHERING AND EXHIBITION OF THE PEPPER/SPICES INDUSTRY FOR 2023! The 51st Annual Sessions and Meeting of the International Pepper Community and International Spices Exhibition is approaching, scheduled from 6 - 9 November 2023 at Pullman Hotel Kuching Sarawak, Malaysia with distinguished International Guest Speakers of renowned figures in the global pepper industry. This year, the grand 51st IPC ASM ISE will gather the important stakeholders of the pepper industry to Kuching Sarawak, Malaysia to deliberate on the recent updates  of the global pepper industry as well as way forward and future strategic ideas of the industry. The following are the country-wise delegation shares:  The following are Exhibitors representing the top names of the Pepper/Spices industries: REGISTER NOW BEFORE 31 OCTOBER 2023 AND JOIN THE INSTRUCTIVE GATHERING OF THE PEPPER INDUSTRY FOR 2023! SEE YOU IN KUCHING, SARAWAK! #TOGETHERWEARESTRONGER

Brazil Pepper Pricing Overview

 

Brazil still seen stable over the past few weeks with local currency that is under depreciation pressure over US dollars Brazil's real BRL, fell between 0.3% and 0.7%. Though in a good note, exporters’ woes with the rising production and shipping cost for Pepper could balance out the market pricing. 

Brazil Pepper Plant Production
Espírito Santo as the epicenter of pepper production reportedly seen with plants dying due to weather condition with the degree of the damage that is still unknown. On the other hand, Pará harvest reportedly plummeted by about 20%, due to high temperatures and lack of rain.

Brazil Pepper September Export
Brazil exported about 7,244 tons of pepper for the month of September, with about 57,652 tons export volume for the first nine (9) months of the year which is 4% lower as compared to last year’s same period covered.

Brazil Pepper Export Destinations
Vietnam still a top importer of Brazil Pepper, managing to import about 11,867 tons from Q1-Q3, down by about 9% compared to last year same period. UAE, top two importer at 5,464 tons, down by about 19% from last year as well.

Germany and USA both import volume dropped down by about 60% and 92% respectively owing to the stricter import regulation due to Salmonella issue.

This report is part of  
RGT Pepper Market Report – October 2023
Royal Golden Trading 2023. All Rights Reserved.

Vietnam market update 16th Oct 2023 – Week 41.

 

From January 1 to September 30, 2023, Vietnam exported 204,385 tons of pepper, of which black pepper reached 183,475 tons, white pepper reached 20,910 tons.

Total export turnover reached 678.1 million USD, black pepper reached 578.2 million USD, white pepper reached 99.9 million USD.

Compared to the same period in 2022, export volume increased by 15.3%, equivalent to 27,164 tons, however export turnover decreased by 13.4%, equivalent to a decrease of 104.5 million USD.
The average export price of black pepper in the first 9 months of 2023 reached 3,539 USD/ton, white pepper reached 5,068 USD/ton, down 15.3% for black pepper and 14.2% for white pepper respectively over the same period 2022.

 

Pepper Market Report by Royal Golden - Week 39 – 2023

 

Amid gloomy demand overseas, market remained relatively stable for Vietnam. Reported small volume of buying activities for prompt needs from Asian buyers occurred over the week. 

While other major importing countries who still are seen indecisive to take positions are reportedly on a sideline waiting for selling pressure to take place.

Muntok with a slight decline last week, it is seen stable today with its very limited supply owing to crop failure that export volumes are also hugely suffering.

Brazil stable to firm with active demand from Asian buyers. Q4 at its peak season, this origin is experiencing shortage for empty containers with some carriers rolling cargo due to high volume of shipments. Reported vessel utilization at a very healthy level (90-95%) prompting freight rates to be seen moving at an upward direction.