Pepper market on April 27, 2024: Increased by 1,000 VND compared to yesterday

Posted onApril 27, 2024by VPA

27
Apr

Pepper price today April 27 is in the range of 96,000 - 97,000 VND/kg. After 2 consecutive days of decline, pepper prices increased slightly before the holiday April 30 - May 1. Despite the abundant supply among the people, the domestic market did not decrease. This week's pepper market only saw Sri Lankan domestic prices decrease.

In Dak Lak province,  today's pepper price is purchased at 98,000 VND/kg.

In Dak Nong province, today's pepper purchase price is 97,000 VND/kg.

In Gia Lai province, today's pepper price is 97,500 VND/kg.

Meanwhile in Dong Nai, today's pepper price is at 97,500 VND/kg.

In Ba Ria - Vung Tau province, pepper price today is at 98,000 VND/kg.

In Binh Phuoc province, today's pepper price is purchased at 97,000 VND/kg.

Pepper prices today increased by 1,000 VND in Dak Lak and Ba Ria - Vung Tau, remaining stable in the remaining regions compared to the same time yesterday. After 2 consecutive days of decline, pepper prices increased slightly before the holiday April 30 - May 1.

Even after the harvest had just ended, despite the abundant supply among the people, the domestic market did not decrease, on the contrary, it increased. Drought is causing concerns about supply shortages next season.

According to records from the hydro-meteorological agency, the drought and water shortage situation in the Central Highlands region is severe, many small reservoirs have run out of water, greatly affecting high-income crops such as coffee, pepper.

After harvest, pepper plants are often exhausted, coinciding with the dry season, so the possibility of fungus and disease is high, affecting productivity and output of the next crop. According to experts, post-harvest pepper care is not easy, especially in today's changing weather conditions.

In fact, many people do not pay enough attention to this stage, which affects the disease resistance and productivity of the garden. During this period, in principle, farmers need to let pepper plants dry out and have time to sleep, rest, and differentiate flower buds. However, that does not mean that farmers should neglect taking care of them. They should not expose pepper roots as this will cause the plants to lose strength and be more susceptible to fungal attacks later. People also need to use shielding materials and original cabinets.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 4,578 USD/ton, down 0.09%; Brazilian black pepper price ASTA 570 is at 4,550 USD/ton; Kuching (Malaysia) ASTA black pepper price remained at 4,900 USD/ton.

Muntok white pepper price 6,064 USD/ton; Malaysian ASTA white pepper price is still at 7,300 USD/ton.

Vietnam black pepper price is trading at 4,200 USD/ton with 500 g/l type, 550 g/l type at 4,300 USD/ton; White pepper price is at 6,000 USD/ton. IPC commented that this week's pepper market showed mixed reactions when only Sri Lankan domestic prices decreased. Both domestic and international Indian pepper prices have tended to increase since last week. Domestic and international Indonesian pepper prices were stable this week.

According to KTĐT.vn

Rising temperature, production-drop push up cardamom prices

 

 

 

Updated - April 25, 2024 at 02:08 PM.

Traders say the shooting up of prices is due to the absence of sufficient rains in the production centres during the last three months and the rising temperature to the optimum level of 34-35 degree Celsius

By V Sajeev Kumar

Cardamom prices has started moving northwards to reach ₹2000 reportedly because of lower production in the prevailing sultry weather.

Cardamom prices has started moving northwards to reach ₹2000 reportedly because of lower production in the prevailing sultry weather.

Prices in the first week of March was in the range between ₹1300-1400.

Traders attributed the reasons for the prices to shoot up to the absence of sufficient rains in the production centres during the last three months and the rising temperature to the optimum level of 34-35 degree Celsius.

This has hit the crop very badly, leading to drying up of tillers and panicles. Such damages to the plant are likely to have an impact on the crop in the next season.

Earlier, planters have their own water resources to irrigate the land. However, the drying up of water levels in their land in the extreme heat conditions also hit irrigation of plants. In all probability, the next harvest season for July-August will depend on the availability of continuous rains for at least a couple of days, traders said.

However, the rising prices seem to have not derived any benefit to majority farming community and it helped those traders who procured the commodity at the time of declining prices. Fearing a further drop in prices with the starting of summer showers, many small traders did not procure enough quantity.  

The plant damage for current year is estimated at 20 per cent which is likely to go up if the growing areas face further scarcity of summer showers in the coming days, they pointed out.

According to auctioneers, the market is witnessing a subdued demand after Ramadan and is likely to pick up in July-August. 

On the export front, the market is witnessing a subdued demand especially from the Gulf nations after Ramadan. However, the drought conditions in Guatemala have affected their crop badly, bringing the prices on par with Indian raw material. Guatemala has seen a sharp fall in crop to around 30,000 tonnes this year from 54,000 tonnes last season.

 

Pepper prices today decreased slightly compared to yesterday.

 

BREAKING NEWS , Domestic news , NEWS

Pepper market on April 24, 2024, prices decreased slightly

Posted onApril 24, 2024by VPA

24
Apr

Pepper prices today decreased slightly compared to yesterday.

Domestic pepper prices

Among them, traders in Dak Lak, Ba Ria - Vung Tau and Binh Phuoc are purchasing pepper at the highest price of 97,000 VND/kg.

The transaction level of 97,000 VND/kg continued to be recorded in Gia Lai and Dak Nong provinces.

The current lowest pepper price is 96,500 VND/kg, available in Dong Nai province.

Province/district (survey area)	Purchasing price (Unit: VND/kg)	Change compared to yesterday (Unit: VND/kg)
Dak Lak	97,000	-1,000
Gia Lai	96,000	-1,000
Dak Nong	96,000	-1,000
BA Ria Vung Tau	97,000	-1,000
Binh Phuoc	97,000	-1,000
Dong Nai	96,500	-500

World pepper prices

According to an update from the International Pepper Association (IPC) on April 23 (local time), the price of Lampung black pepper (Indonesia) decreased by 0.13%, the price of Brazilian black pepper ASTA 570 and Kuching black pepper (Malaysia). ) ASTA remains stable compared to April 22.

Type name	World black pepper price list (Unit: USD/ton)
	April 22	April 23	% change
Lampung black pepper (Indonesia)	4,578	4,572	-0.13
Brazilian black pepper ASTA 570	4,450	4,450	0
Kuching black pepper (Malaysia) ASTA	4,900	4,900	0

At the same time of the survey, Muntok white pepper prices decreased by 0.13%, while Malaysian ASTA white pepper prices had no new adjustments.

Type name	World white pepper price list (Unit: USD/ton)
	April 22	April 23	% change
Muntok white pepper	6,046	6,038	-0.13
ASTA Malaysian white pepper	7,300	7,300	0

On the world market, Brazil's offered black pepper price increased by 37.6% in the first quarter of the year, while Indonesia and Vietnam increased by 13% and nearly 8%, respectively.

Similarly, the price of black pepper in Vietnam's domestic market in the first quarter also increased by 16 - 18.6% to 92,500 - 96,000 VND/kg, the highest level in the past 7 years. Then the price was adjusted down to 89,000 - 92,000 VND/kg in the first half of April, but still about 40% higher than the same period last year.

The Vietnam Pepper and Spice Association (VPSA) forecasts that this year's output is expected to decrease by 10% to about 170,000 tons compared to last year, the lowest level in the last 5 years.

Meanwhile, severe drought, especially in key pepper production areas in the Central Highlands region, may affect the upcoming crop.

VIETNAM - Pepper market April 22, 2024: Pepper price forecast this week is optimistic

 

Pepper price today April 22 is in the range of 96,500 - 98,000 VND/kg. This year's dry season is extremely hot and has prolonged drought, causing many crops such as pepper to lose productivity and decline. This is one of the main reasons why prices have increased recently.

In Dak Lak province,  today's pepper  purchase price is 98,000 VND/kg.

In Dak Nong province, today's pepper purchase price is 97,000 VND/kg.

In Gia Lai province, today's pepper price is at 97,000 VND/kg, an increase of 2,500 VND/kg.

Meanwhile in Dong Nai, today's pepper price is at 96,500 VND/kg.

In Ba Ria - Vung Tau province, pepper price today is at 98,000 VND/kg.

In Binh Phuoc province, today's pepper price is purchased at 98,000 VND/kg.

Pepper prices today remained stable in localities compared to the same time yesterday. Summarizing last week, domestic pepper prices increased by 7,500 - 8,500 VND/kg. Compared to the beginning of the month, pepper prices increased by an average of 3,000 - 4,000 VND/kg.

From the second half of April 2024, the amount of pepper reserves purchased at low prices in February 2024 has almost run out, causing importers to increase purchases again. Along with that, the Muslim month of Ramadan ends, the Indonesian market returns, making transactions more exciting.

According to experts, this year's dry season is extremely hot and prolonged, causing many crops such as coffee, pepper, cashew, etc. to lose productivity and decline. This is one of the main reasons why the prices of Vietnamese agricultural products have increased recently.

According to information in the press, Mr. Ho Van Giao, a pepper farmer in Hamlet 5, Lam San Commune (Cam My District, Dong Nai Province), said that since September last year, the weather has begun to enter the dry season. The peak heat wave begins in February 2024, much earlier than every year. Now returning to Lam San, it is very difficult to find a lush pepper garden, especially in Hamlet 5, where the drought is worse than other areas.

Currently, irrigation water sources for pepper farmers in Lam San and many surrounding areas are very stressful because they depend on drilled wells. In the dry season, this water source is seriously reduced. The long-term solution is to preserve underground water sources. If you want to preserve groundwater, you must preserve soil, because soil and water go hand in hand.

Lam San is a typical example, like many other key pepper growing areas in the Central Highlands, facing a shortage of irrigation water. Some localities recorded a sharp increase in traders purchasing dead pepper roots to use as oriental medicine.

In the above situation, according to experts, this week the market will still maintain its upward momentum, possibly reaching 100,000 VND/kg. The selling force will be high when pepper prices reach their peak. In the medium term, the growth potential of Vietnamese pepper is still very large. Because Brazil and Indonesia have almost no additional supply until August.

According to KTĐT.vn

VIETNAM - Pepper prices skyrocketed

Pepper price is currently reaching 98,000 VND/kg, an increase of about 9,000 VND/kg compared to last week and is likely to exceed 100,000 VND/kg this week.

Currently, pepper harvesting is in progress   in many localities in the Southeast and Central Highlands. The increase in pepper prices during this period is surprising because normally when the harvest is in full swing, prices decrease.

 

 

 The lowest  pepper price is 97,000 VND/kg in Dong Nai ,  Dak Nong  and  Gia Lai . In  Binh Phuoc , Ba Ria-Vung Tau,  Dak Lak ,  the price is up to 98,000 VND/kg. Compared to the same period last year, pepper prices are currently about 33,000 VND/kg higher.

Pepper prices increased sharply  due to limited supply due to prolonged heat, affecting the current harvest output. Besides, pepper is often intercropped in  coffee gardens  , so these two items are closely related in price. Normally, people will sell coffee when the price is high to prepare money to store pepper. This year, coffee prices have only increased but not decreased and are currently more than 20,000 VND/kg higher than pepper prices. Therefore, many people continue to hold on to pepper and refuse to sell it with the expectation that the price will increase sharply in the near future like coffee. This causes the supply of pepper on the market to be low.

According to the General Department of Customs, in March,  pepper exports  reached nearly 26,000 tons, worth 117 million USD; decreased 27.5% in volume but increased nearly 5% in value. The average export price of pepper in March reached 4,305 USD/ton, up 44.5% over the same period in 2023.

In the first 3 months of 2024, Vietnam's pepper exports reached 57,000 tons, worth 236 million USD; Reduced by 25% in volume but increased by 1% in value. The average export price of pepper reached 4,153 USD/ton, up 35.5% over the same period in 2023.

According to experts, recently  the prices of durian  and  coffee have increased higher  than the price of pepper, causing the area and output of these products to decrease and prices to increase. Besides, factors such as harsh weather,  political instability  in many places affecting goods transportation, exchange rate fluctuations... also have a strong impact on pepper prices. With the current trend, pepper prices are likely to increase because they have to compete in economic efficiency with strong competitors such as durian and coffee.

According to Thanhnien.vn

Pepper market reports BY Nhuan Ho

 

 

---------------------------------------------

Coffee and Pepper Prices, let's move up together

Pepper market reports

In March – Because in February, customers bought large quantities that is enough for March, This year Ramadan came too early, so demand in March decreased a bit from 96k/kg to 91 k/kg. Along with support for the increased USD exchange rate So the export price offered decreases - Customers were waiting to buy at a lower price in Mar

At the end of April 15, Ramadan ends and Qingming Festival in China ends. Purchased Stock pepper at low price in February is almost used up. Demand in the entire market is gradually increasing, China is buying white pepper, the Middle East is buying, and Europe is buying.

Special There is a big event in the US taking place from April 16-18, the ASTA Conference is at Tucson, Arizona, with the presence of many large importers and exporters in the world such as: Mccormick, Elite, Griffith , Terrova, FUCHS, BG, OLAM, NEDSPICE, HARIS SPICE….. along with many exporters present at the Asta conference such as PS, Pearl, Haprosimex, DK, Synthite, Plant lipid….. according to knowledgeable people at conference, more than 10,000 tons of pepper were bought and sold here during these 3 days.

Combined with the demand of other markets, EU, Asia, Middle East, Africa, China, this will be a pretty good push for the upcoming bull market.

Another very important factor, currently Brazil and Indonesia have almost no crop, until August. Prices of Brazil and Indonesia are currently higher than Vietnam, importing goods to Vietnam is almost impossible. Brazilian price for asta 570 gl is 4450 usd/mt cnf Ho Chi Minh, Indonesia Lasta is 4700 usd.mt cnf Ho Chi Minh

The El Nino phenomenon globally is very serious, the 2024 crop in these countries is expected to lose about 25-35% of output stock pepper. Causes the need for 2024 inventory to increase greatly, as is happening with Coffee

The weather in Vietnam's raw material areas is very negative, prolonged hot weather, and many pepper trees die. According to information, traders buy dead pepper roots (to make traditional Chinese medicine). The output of dead pepper roots has increased by 100% compared to every year. Thus, the amount of inventory for the 2025 crop will decrease sharply

In addition, coffee prices have increased continuously and very strongly in the past week, which will be a factor to guide pepper Price towards 120,000 VND/kg in May-June.

Coffee farmers are currently very rich, and those involved, are buying huge stocks pepper in the hope of good profits for 2024.

BY Nhuan Ho

 

https://www.facebook.com/nhuanho1985 

 

-----------------------------------------

 

 

VIETNAM PEPPER UPDATE 2

 Update pepper information

In a recent document sent to the Government, the Vietnam Pepper and Spice Association (VPSA) said that Vietnam is still ranked top 1 in the world in pepper production and export. However, in the context of competition and favorable market fluctuations for other crops such as coffee and durian, the area and output of Vietnamese pepper are decreasing.

The association said this year's pepper output is expected to decrease by 10% to about 170 thousand tons compared to last year, the lowest level in the last 5 years.

This agency is concerned that the level of competition from rival countries will become increasingly fierce, especially Brazil. Accordingly, this country has had a breakthrough in the last 5 years from 80 thousand tons in 2018 and is now expected to reach 100 thousand tons in 2024. This country's exports reach 80 thousand tons in 2023.

“Therefore, all efforts and support need to be focused on pepper to ensure stable area and output. Vietnam continues to take the initiative, playing a role in regulating world market prices as it currently does. today,” VPSA said.

In addition, VPSA hopes that state agencies will support and mobilize foreign partners to consider expanding investment activities in Vietnam.

The association said that the global corporation McCormick (USA) currently invests in many countries such as India, China and some European countries. This is also the largest importer of US spices. In 2023, the US will import 54 thousand tons of Vietnamese pepper, accounting for 20.5% of exports to markets. Of which McCormick imported 3.5 thousand tons.

However, this business has not expanded its investment in Vietnam even though it is the partner importing the most pepper. This company is currently just stopping being a partner and choosing a number of large companies to supply pepper for export to the US market.

According to VietnamBiz.vn
----------------------------


-------------------------------------

FDI enterprises are the leading pepper exporters in Vietnam

 

According to VPSA data, VPSA enterprises accounted for nearly 90% of Vietnam's total pepper exports in the first quarter with a volume of 50,918 tons, an increase of 16.8% over the same period. In contrast, businesses outside VPSA only exported 5,794 tons, a sharp decrease of 82.5% and accounting for 10.2%.

Two foreign-invested enterprises, Olam Vietnam and Nedspice Vietnam, ranked first and second respectively in the ranking of Vietnam's largest pepper exporters.

In the first quarter, Olam Vietnam's pepper exports increased sharply by 50.4% to 5,792 tons. Similarly, Nedspice Vietnam also increased by 24.5%, reaching 5,245 tons.

Vietnamese enterprises ranked in the next positions include Tran Chau and Phuc Sinh, with volumes decreasing by 27.5% and 4.7% respectively...

Some businesses said that in addition to the burden of increased raw material costs, pepper export businesses are also greatly affected by high transportation costs due to escalating tensions in the Red Sea region, especially on the route to the EU. – where 20% of Vietnam's pepper is consumed.

Pepper market April 1, 2024: Market goes sideways, highest 95,000 VND/kg

 

Currently, farmers in key pepper growing areas in the Central Highlands and Southeast are entering the end of the 2024 harvest season.

Commenting on the export market, Ms. Hoang Thi Lien, President of VPSA, said that thanks to stable supply and guaranteed quality, Vietnamese pepper has advantages when penetrating markets. In particular, pepper exports to the Chinese market are expected to grow well this year. This country's annual pepper import demand is expected to be about 65-70 thousand tons. While in the first 2 months of this year, the amount of Vietnamese pepper exported to China only reached 816 tons.

According to preliminary statistics of the Vietnam Pepper and Spice Association (VPSA), in the first 16 days of March 2024, Vietnam exported 12,368 tons of pepper, including 10,518 tons of black pepper and 1,850 tons of white pepper. about 53 million USD. The main export enterprises include: Lien Thanh: 1,276 tons, Olam Vietnam: 1,139 tons, Nedspice Vietnam: 957 tons, Phuc Sinh: 900 tons, Haprosimex JSC: 824 tons.

In February 2024, Vietnam's average export price of pepper reached 4,050 USD/ton, an increase of 1.2% compared to January 2024 and a sharp increase of 34.7% compared to February 2023. In the first 2 months of 2024, the average export price of Vietnam's pepper reached 4,022 USD/ton, an increase of 28.1% over the same period in 2023.

In the opposite direction, pepper imports in the first 16 days of March 2024 reached 1,943 tons, total import turnover reached 7.2 million USD. Vietnam imports mainly from Cambodia, accounting for 43.2%, reaching 840 tons, and from Brazil, accounting for 42.4%, reaching 824 tons. Main import enterprises include: Olam Vietnam: 880 tons, Pearl Group: 306 tons.

Pepper prices cooled down due to the lack of Chinese purchasing power

 
After increasing by more than 30% in the three months from December 2023 to February this year, black pepper prices in the domestic market have leveled off and are showing signs of cooling down.

As of the trading session on April 10, black pepper prices in the Central Highlands and Southeast regions fluctuated between 90,000 - 91,000 VND/kg, down 2,000 - 6,000 VND/kg (corresponding to 2 - 6%) compared to end of last month.

Pepper prices decreased in the context of additional supply from the 2023-2024 harvest. Meanwhile, pepper  exports   decreased significantly compared to the same period last year due to the lack of Chinese buying demand.

Preliminary statistics from the Vietnam Pepper and Spice Association (VPSA) show that Vietnam's pepper exports in March reached 25,579 tons, down 28.8% in volume over the same period last year. 2023.

Accumulated to the end of the first quarter, Vietnam exported 56,712 tons of pepper of all kinds, with a turnover of 235.6 million USD, down 26.1% in volume (equivalent to 20,015 tons) and down 0.1% in value. turnover compared to the same period last year.

In particular, exports to China - Vietnam's largest pepper consumption market last year decreased by 95.8%, reaching only 1,083 tons compared to 25,919 tons in the same period. This number is even lower than the 2,138 tons achieved in the first quarter of 2022, when China was closed due to the COVID-19 pandemic.
This result makes China fall to 14th place in Vietnam's pepper export market in the first quarter, accounting for 1.9% market share compared to 33.8% in the same period.

This is contrary to many previous forecasts that China's demand will increase after the Lunar New Year and push pepper prices higher.

In addition to China, pepper exports to the African market also decreased by 23.1%, of which Egypt decreased by 9.7% to 1,389 tons and Senegal decreased by 38.0% to 588 tons.

However, the positive point is that  import  demand  of some other key markets is rebounding after a decline last year.

For example, the US market, Vietnam's number one pepper export market in the first quarter of the year reached 15,185 tons, an increase of 27.9% over the same period and accounting for 26.8% of the market share.

In addition, exports to India reached 3,793 tons, an increase of 19.6%; Korea reached 2,164 tons, a sharp increase of 179.9%.

Exports to Europe also increased sharply by 24.7% over the same period in 2023 and accounted for 26.3% of the market share, of which the largest export to Germany increased by 113.8% to 3,701 tons; The Netherlands increased by 76.9% to 2,598 tons; exports also increased in Russia (25.1%); France (8%); Spain (32.3%), Italy (203.6%)…

The average export price of black pepper in the first quarter reached 3,966 USD/ton, white pepper reached 5,552 USD/ton, an increase of 562 USD/ton and 593 USD/ton respectively compared to the same period in 2023.

Will pepper prices still stay high in the near future?

 
Although there is a downward adjustment, pepper prices are expected to remain at a high level in the near future.

In a recent report, the Import-Export Department (Ministry of Industry and Trade) forecasts that pepper prices in producing countries will continue to remain high due to increased demand, while supply from producing countries Indonesia, Brazil, Malaysia and Cambodia are not enough to compensate for the decrease in exports from Vietnam.

Currently, consumers around the world are willing to pay high prices for high quality pepper. In particular, the US, EU, Middle East markets... increase the need to import products that meet sustainability in social, environmental and economic aspects throughout the supply chain.

Meanwhile, in countries with large pepper production, Brazil has passed the harvest season, Vietnam has entered the season, while the main harvest of Indonesia and Malaysia is in July every year.

Information from the Vietnam Pepper and Spice Association (VPSA), speculation is the main reason leading to the "hot" increase in pepper prices. Vietnam's harvest is in its main season, so the phenomenon of hoarding goods pushing up prices will not likely happen in the near future.

However, pepper prices are forecast to remain high. This year, the harvest was early due to the hot weather coming early due to El Nino. Harvest is expected to end at the end of March. The actual output is lower than VPSA's expectation, estimated at only 140-150 thousand tons.

According to VPSA, Vietnam provides about 50% of global pepper output, but due to a sharp decline in area, Vietnam's pepper output in 2024 may be at its lowest level in many years.

According to Nedspice Group, the scale and timing of new export demand in Vietnam will determine the price trend in the coming months, especially China plays an important role.

Nedspice Group forecasts global pepper production to reach about 465,000 tons in 2024, down 6,000 tons compared to the previous year. In addition, global pepper consumption is expected to be at 529,000 tons, 64,000 tons higher than production. This caused inventory to drop to its lowest level in the past 6 years.

Vietnam's harvest this year according to Nedspice is about 157,000 tons, down 15% compared to the previous year. In recent years, there has been very little new pepper planting in Vietnam and many old trees. At the same time, the area of ​​pepper trees is also shrinking and being replaced by crops that bring better income such as durian.

Nedspice believes that rising pepper prices will encourage farmers to increase production, boosting pepper productivity in the coming years. However, new planting will take time to harvest, so output is unlikely to recover soon.

Pepper productivity decreased sharply due to prolonged drought and disease

 

Prolonged drought, along with many diseases, caused pepper productivity in Kien Giang to decrease sharply, and farmers were less happy because the pepper crop failed.

Pepper prices are rising again after a long period of low levels. Currently, traders are buying at the garden for 95,000 VND/kg, an increase of nearly 30,000 VND/kg compared to the end of 2023. Although prices have increased, many households grow them. Pepper in Kien Giang is still not happy because this year's pepper crop failed and the harvest yield was low.

Mr. Thach Nat, a  longtime pepper grower  in Ha Tien City, said: "Each pepper planting post, if the weather is favorable and well cared for, can yield from 800g to 1kg. However, this year the harvest only reached less than 500g/head. The reason is due to prolonged drought and lack of irrigation water, pepper plants do not develop well and bear little fruit."

As the owner of a pepper purchasing and processing facility in a commune on the outskirts of Ha Tien City, Mr. Ngo Hoang Du said: "It is now the harvest season but each day the facility can only purchase a few dozen kilograms of raw pepper. Because this year's pepper crop was poor, farmers harvested low yields. Furthermore, because pepper prices are increasing, there are households who are not in a hurry to sell right away but wait for the price."

Mr. Tran Quang Giau, Director of the Department of Crop Production and Plant Protection of Kien Giang province, said that currently the whole province only has about 384 hectares of pepper growing, scattered in the districts of Giong Rieng, Go Quao, U Minh Thuong, Kien Luong, Kien Hai, Ha Tien City and Phu Quoc.

Recently, because pepper prices are low while input costs are increasing, the more they grow, the more they lose money, so farmers destroy pepper gardens and switch to other crops. In addition, many pepper gardens in Go Quao, Giong Rieng, Phu Quoc are infected with diseases, commonly slow death, quick death, crazy pepper, nematodes with a total area of ​​more than 26 hectares, affecting harvest output.

Will pepper prices still go up in the near future?

 

At the Vietnam Pepper and Spice Industry International Conference - VIPO 2024 held on March 8-10, Mr. Jasvinder Singh, Sethi, CEO and Founder of Namagro Vietnam, said that global consumption demand is about 600,000 – 700,000 tons.

This demand is met through imports and self-cultivation in the country. Asia consumes the most pepper in the world with 400,000 tonnes, of which half is imported, half is self-produced. The Americas consumed 110,000 tons, of which 90,000 were imported from other countries, while Europe imported almost all.

In terms of supply, he cited forecasts from the International Pepper Association (IPC) that said worldwide pepper production will decline by about 2% in 2024.

Not out of the trend, Vietnam's pepper production may decrease to about 170,000 tons, but exports can still reach about 240,000 tons. Brazil's output will fall more sharply due to climate change-related issues.

According to CEO Namagro Vietnam, two important factors to evaluate output are yield and harvested area.

Productivity depends on the weather and the motivation of the farmer himself. If farmers believe that pepper cultivation is profitable, they will take care of it and improve yields. However, low prices in recent years, coupled with expensive input costs, have left farmers with little incentive to persist in their pursuit of pepper.

In Vietnam, since 2017, no new planting areas have appeared, besides there are also situations in some areas, farmers switch to planting other crops.

All of this will cause supply shortages in the future. In addition, El Niño, La Nina phenomena and geopolitical instability exacerbate the situation.

For the pepper market, Jasvinder Singh Sethi also noted that it is not simply assessing supply and demand, but also assessing whether geopolitical conflicts of a region affect the supply and demand of that area and its vicinity.

In terms of prices, by compiling data, he observed that there is a rule that repeats three times in the past 50 years, that every time demand is greater than supply, prices also skyrocket, whereas when supply is greater than demand, prices will fall and remain at the bottom.

Pepper prices are currently stable and may likely increase in the near future. Supply is still not able to meet demand.

"Unlike turmeric or ginger, prices go up every year, farms grow more and the next year prices fall again, pepper needs another 3-4 years to ensure supply due to the shortage of planting area that appeared three years ago. Existing growing areas also face issues related to climate change but long-term demand for pepper remains strong," he said.

Pepper prices in the domestic market are continuing their upward trend in the first months of the year. In just three months (from December 2023), pepper prices have increased by up to 30%. By the end of February, the price of black pepper increased by 10,000 – 11,000 VND/kg compared to the end of January to 91,000 – 94,000 VND/kg. The highest threshold recorded in March was 96,000 VND/kg.

According to some businesses and experts in the pepper industry, in recentyears, pepper prices in many countries such as Brazil and Indonesia are often higher than Vietnam, even at one time Indonesia did not have pepper to export.

In fact, at this time, only Vietnam is harvesting a lot. World prices are higher than domestic, adding to the fear of lack of goods and price increases, so many businesses actively increase the amount of purchases, pushing pepper prices up hot.

According to information from the Vietnam Pepper and Spice Association (VPSA), Vietnam supplies about 50% of global pepper production, but due to a sharp decline in area, Vietnam's pepper production in 2024 is likely to be at the lowest level in many years.  

Vietnam pepper market update 11th March 2024 – Week 10

We would like to send you a quick highlight Vietnam pepper market update 11th March 2024 – Week 10.

Last week, the price of pepper has some downward adjustments as it is currently the main harvesting season, leading to a more abundant supply. The price of pepper has decreased from 96,500 VND to 95,000 VND, a decrease of 1.55%.

 Demand continues to be strong from various markets such as the US, EU, Asia, Africa, especially for immediate and further shipment in 2024.

 The amount of pepper being offered for sale has become very limited as the market adjusts downwards. Farmers and agents continue to prioritize storing goods.

The price of coffee has also approached the price of pepper. Therefore, many farmers have sold coffee and bought pepper to increase their inventory with the expectation that the price of pepper will rise in 2024.

 

 Update the latest domestic and world pepper prices on March 4, 2024

Pepper price  today is 4/3 in the world

In the world, the pepper market on March 4 remained stable in many countries.

Accordingly, the price of Lampung black pepper in Indonesia is anchored at 3,896 USD/ton. The price of Muntok white pepper in this country remains at 6,142 USD/ton.

Malaysia's Kuching ASTA black pepper price remained stable at 4,900 USD/ton; This country's ASTA white pepper is still priced at 7,300 USD/ton.

For the Brazilian market, the price of ASTA 570 black pepper is at 4,270 USD/ton.

In Vietnam, export prices of black pepper grades 500 and 550 g/l remained at 3,900 and 4,000 USD/ton, respectively. The export price of white pepper reached 5,700 USD/ton.

Pepper type	Price (Unit: USD/ton)	Change
Lampung black pepper (Indonesia)	3,896	–
Brazilian black pepper ASTA 570	4,270	–
Kuching black pepper (Malaysia) ASTA	4,900	–
Muntok white pepper	6.142	–
ASTA Malaysian white pepper	7,300	–

Today's world pepper prices  have no new fluctuations. Summing up last week, the global pepper market fluctuated in opposite directions with only India reporting a decrease.

Thus, world pepper prices on March 4, 2024 were flat compared to yesterday.

Pepper price today  is 4/3 in the country

Domestically, the pepper market on March 4 had no new fluctuations compared to yesterday.

Specifically, Dak Lak and Dak Nong traded at 95,500 VND/kg;

In Gia Lai, pepper price today remains at 93,000 VND/kg;

In Dong Nai, traders buy it at a price of 93,500 VND/kg;

The latest pepper price in Ba Ria - Vung Tau still reaches 95,500 VND/kg;

Binh Phuoc traders trade at 95,000 VND/kg.

Province	Price	Up and down
Dak Lak	95,500	–
Dak Nong	95,500	–
Gia Lai	93,000	–
Dong Nai	93,500	–
BA Ria Vung Tau	93,500	–
Binh Phuoc	95,500	–

Latest domestic pepper price list dated March 4, 2024. Unit: VND/kg

 Domestic pepper prices  today  are flat with the highest level reaching 95,500 VND/kg. Summarizing last week, the domestic pepper market increased rapidly from 3,000 - 4,000 VND/kg.

Evaluating this week, experts believe that domestic pepper will still be anchored at a high level, the upward momentum is still there but is no longer strong when new crops are about to hit the market.

Mr. Hoang Phuoc Binh - Vice Chairman of Chu Se Pepper Association (Gia Lai) commented that the general trend this year is that prices will continue to increase and can completely return to the mark of more than 100 thousand VND/kg in the near future. time is not far away.

Global and Vietnamese pepper production is forecast to decrease, along with many farmers not being in a hurry to sell pepper to the market, contributing to scarcity as well as keeping pepper prices high.

Thus, domestic pepper prices on March 4, 2024 are trading around 93,000 - 95,500 VND/kg.

According to Nongnghiep.vn