Pepper Market August 31, 2024

 

Pepper Market August 31, 2024: Average price increase of 1,000 VND

Posted onAugust 31, 2024by VPA

Aug 31

Pepper prices today, August 31, are around 145,000 - 146,000 VND/kg. The market at the end of August continued to have mixed reactions. Indian pepper prices, both domestic and international, were stable this week. When the Indonesian Rupiah strengthened against the USD, the country's pepper prices increased this week.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,529 USD/ton, down 0.41%; the price of Brazilian black pepper ASTA 570 at 6,450 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 8,8651 USD/ton, down 0.41%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam black pepper price is traded at 6,100 USD/ton for 500 g/l; 550 g/l at 6,500 USD/ton; white pepper price at 8,800 USD/ton. IPC reduces Indonesian pepper price after 1 day of increase.

The International Pepper Community commented that the pepper market at the end of August continued to have mixed reactions. Domestic and international Indian pepper prices were stable this week. When the Indonesian Rupiah strengthened against the USD, the country's pepper prices increased this week.

The pepper harvest in Vietnam will last from January to the end of April in key growing areas, with output slightly increasing compared to 2023.

There is currently a lot of conflicting information. Some gardeners say that their pepper gardens have not produced any fruit this new pepper season. However, some gardeners say they expect a bumper crop. This is due to weather factors.

According to experts, even if the next pepper crop is slightly better than the last one, it will not be able to make up for the pepper acreage lost in the past and is still being lost. Therefore, it is forecasted that the supply will continue to be in short supply in the future.

According to KTĐT.vn

Pepper market on August 27, 2024

Pepper market on August 27, 2024, highest 144,000 VND/kg

Posted onAugust 27, 2024by VPA

27
Aug

It's a new day in the market,  pepper prices have no new fluctuations.

In the domestic market

According to the survey,  pepper prices  today are flat on a large scale.

Specifically, traders in Dak Lak and Dak Nong continue to buy pepper at a price of 144,000 VND/kg.

Lower at 143,000 VND/kg was recorded in Gia Lai, Ba Ria - Vung Tau, Binh Phuoc and Dong Nai.

Province/district (survey area)	Purchasing price (Unit: VND/kg)	Change compared to yesterday (Unit: VND/kg)
Dak Lak	144,000	–
Gia Lai	143,000	–
Dak Nong	144,000	–
Ba Ria – Vung Tau	143,000	–
Binh Phuoc	143,000	–
Dong Nai	143,000	–

On the world world market

According to updates from the International Pepper Association (IPC) on August 26 (local time), the trading price of Lampung black pepper (Indonesia), the purchasing price of Brazilian black pepper ASTA 570 and the price of Kuching black pepper (Malaysia) ) ASTA remains stable compared to August 25.

Type name	World black pepper price list (Unit: USD/ton)
	August 25	August 26	% change
Lampung black pepper (Indonesia)	7,490	7,490	0
Brazilian black pepper ASTA 570	6,300	6,300	0
Kuching black pepper (Malaysia) ASTA	8,500	8,500	0

At the same time of the survey, the purchasing price of Muntok white pepper and the price of Malaysian ASTA white pepper had no new changes.

Type name	World white pepper price list (Unit: USD/ton)
	August 25	August 26	% change
Muntok white pepper	8,818	8,818	0
ASTA Malaysian white pepper	10,400	10,400	0

Businesses believe that if they put pepper on the trading floor, this item will be easily manipulated by financial funds because the output is still low compared to other products, such as coffee.

The Ministry of Industry and Trade is currently soliciting comments from businesses on the establishment of a Commodity Exchange and pepper will also be one of the traded items, said Ms. Hoang Thi Lien - Chairwoman of the Pepper and Pepper Association. Vietnam Spice Plant (VPSA) said.

This is not a new idea. Previously, the proposal to establish a pepper trading floor was also proposed by the Vietnam Pepper Association (predecessor of VPSA) 8 years ago (May 2016). The association believes that Vietnam's pepper has accounted for over 50% of the world's trade output for many years and the establishment of the trading floor will help the industry have more power to develop the market and dominate global pepper trade. bridge.

VPA added that pepper is an item that can be stored in warehouses for 2-3 years, so farmers know how to keep goods waiting for the right price to sell, something that has never happened with other agricultural products. However, this mentality makes the pepper market unstable. That is also one of the main reasons for VPA to develop the idea of ​​establishing a pepper trading floor, according to  Finance Magazine.

According to VietnamBiz.vn

Pepper market on August 26, 2024

 

Pepper market on August 26, 2024: Price unchanged compared to last weekend

Posted onAugust 26, 2024by VPA

26
Aug

Pepper price today August 26 is in the range of 143,000 - 144,000 VND/kg. Regarding pepper prices this week, experts expect the upward momentum to continue. With a few days left until the National Day holiday, the cumulative buying force is expected to help pepper prices recover to the level at the beginning of August 2024.

Pepper prices at the beginning of this morning remained stable compared to the same time yesterday. Summarizing last week, domestic pepper prices increased by an average of 4,000 - 5,000 VND/kg.

On the world level, the International Pepper Community (IPC) said that the market continued to show mixed reactions last week, when only India and China recorded a decrease.

As of the first half of August 2024, Vietnam's pepper exports reached about 175,000 tons, officially surpassing the 170,000 output mark of this year's harvest.

Meanwhile, the Vietnam Pepper and Spice Association said that the purchasing power of the Chinese market shows no signs of improvement until the end of the year. However, world demand for pepper is increasing and the EU region is still a large consumer market for Vietnamese pepper. In addition, the pepper processing capacity of Vietnamese enterprises is very large, can reach 140,000 tons/year, which is an opportunity to help Vietnam's pepper industry develop in the near future.

Regarding pepper prices this week, experts expect the upward momentum to continue. With a few days left until the National Day holiday, the cumulative buying force is expected to help pepper prices recover to the level at the beginning of August 2024.

According to KTĐT.vn

 

 

 

Businesses worry that pepper prices can be easily manipulated

 

Businesses worry that pepper prices can be easily manipulated if they are put on the trading floor

Posted onAugust 23, 2024by VPA

23
Aug

Businesses believe that if they put pepper on the trading floor, this item will be easily manipulated by financial funds because the output is still low compared to other products, such as coffee.

The Ministry of Industry and Trade is currently soliciting comments from businesses on the establishment of a Commodity Exchange, and Pepper will also be one of the traded items, said Ms. Hoang Thi Lien - Chairwoman of the Pepper and Cayenne Pepper Association. (VPSA) said.

This is not a new idea, the previous proposal to establish a pepper trading floor was also proposed by the Vietnam Pepper Association (predecessor of VPSA) 8 years ago (May 2016). The association believes that Vietnam's pepper has accounted for over 50% of the world's trade output for many years and the establishment of the trading floor will help the industry have more power to develop the market and dominate global pepper trade. bridge.

VPA added that pepper is an item that can be stored in warehouses for 2-3 years, so farmers know how to keep goods waiting for the right price to sell, something that has never happened with other agricultural products. However, this mentality makes the pepper market unstable. That is also one of the main reasons for VPA to develop the idea of ​​establishing a pepper trading floor, according to  Finance Magazine.

In this draft of the Ministry of Industry and Trade, one of the general principles when building a Commodity Exchange is to enhance transparency, fairness and equality. Fraudulent acts, market manipulation, insider trading, abuse of monopoly position, or dominant market position that cause negative impacts on the relevant market are prohibited or handled with criminal sanctions. highest administrative violation.

Systems and  rules for organizing and operating and participating in the commodity futures market  must be established and perfected  by entities  to control, minimize and handle risks in the market ,  in order to limit excessive speculation. level and prevent systemic risks according to the provisions of law.

Some businesses believe that putting pepper on the exchange needs to be careful because there are many risk factors, including speculation, which has a negative impact on market stability.

 Talking to us, Mr. Le Duc Huy, General Director of 2-9 Dak Lak Import-Export Company Limited (Simexco Dak Lak), one of Vietnam's largest pepper export  enterprises  , said that we should be very careful when put consumer goods on the exchange because speculative risks will increase greatly.

He took the example of  coffee   - a commodity being traded on world exchanges, which is also currently dominated by hedge funds and financial funds despite the huge output. Meanwhile, pepper output is not much, making it easier to coordinate. If there is intervention by large hedge funds, the price will not fluctuate according to the supply and demand of the real market and the price will fluctuate very strongly.

“Coffee   is an example, sometimes the price is 30,000 - 31,000 VND/kg for 2-3 years, even when coffee output decreases but it still does not increase. Therefore, make pepper floors very carefully. If it is interfered with by financial funds, it will do more harm than good," said Mr. Huy.

According to VPSA, Vietnam's pepper output in 2024 is expected to reach about 170,000 tons. Meanwhile, with coffee, according to the Vietnam Coffee and Cocoa Association, the output in the 2023 - 2024 crop year is about 1.5 million tons, many times higher than that of pepper.

Similarly on a world scale, pepper production is about 465,000 tons while coffee production is about 10.2 million tons.

Sharing this same concern, sharing at the VPSA conference, Mr. Ho Tri Nhuan, Director of Gohan Company, said that with the current pepper market situation, the absence of a trading floor is better than having a trading floor. .

Without a commodity exchange, farmers, traders and exporters can decide the buying and selling prices. If there is a floor, the "financial forces" can push businesses into an "extremely difficult" position because of the very speculative nature of the funds.

“Currently, pepper is simply bought and sold as real goods. Only domestic speculation in a few months has caused manipulation and damage, let alone "paper goods". This causes extremely big consequences," Mr. Nhuan said.

Pepper prices in the domestic market increased sharply this year. As of August 23, pepper prices were trading around 143,000 VND/kg, nearly twice as high as at the beginning of the year.

Mr. Lam Hoang Quoc Khoi - Market Research Specialist of Nedspice Vietnam Company, warned that putting pepper on the trading floor could become an "official casino", if there is no appropriate management solution.

“Previously, when I read the trading principles on the floor, I found it interesting, but in reality, the coffee floor gradually degenerated into a casino, where people would bet on whether the price of coffee would increase or the price would decrease. down and the amount of money put into that exchange is 5 times larger than real transactions.

The state needs to consider solutions to avoid turning this into an official casino. The capitalization of the pepper industry is lower, only 1/6 that of coffee. Meanwhile, the coffee industry is manipulated like that, with small capitalization like the pepper industry, it is much easier to be manipulated," Mr. Khoi said.

According to Enterprise & Business

Pepper market on August 23

 

Pepper market on August 23: Domestic price stood at 143,000 VND/kg

Posted onAugust 23, 2024by VPA

23
Aug

Pepper price today August 23 is in the range of 143,000 - 144,000 VND/kg.

The Vietnam Pepper and Spice Association (VPSA) forecasts that pepper prices will continue to increase as demand in the world market remains high, while supply is limited.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,478 USD/ton, down 0.79%; Brazilian black pepper price ASTA 570 is at 6,300 USD/ton; Kuching (Malaysia) ASTA black pepper price is 8,500 USD/ton.

Muntok white pepper price was 8,804 USD/ton, down 0.8%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam black pepper price is trading at 5,800 USD/ton for 500 g/l type; type 550 g/l at 6,200 USD/ton; White pepper price is at 8,500 USD/ton. IPC reduced Indonesian pepper prices after recent price increases.

Currently, pepper supply is limited globally due to the impact of El Nino. In the long term, in the next 3-5 years, the amount of pepper produced cannot meet the world's consumer demand.

The impact of El Nino climate change at the beginning of the year continued to impact the production and maintenance of pepper gardens of farmers. Next, the La Nina phenomenon made farmers' psychology even more disturbed, especially at the present time durian and coffee prices are high so they are still not attractive enough for farmers to replant the seeds. massively spent.

Vietnam still has about 30% of pepper inventory, equivalent to 50,000 - 55,000 tons. According to VPSA, the output of the next pepper crop is likely to be equivalent or higher than in 2024. The amount of pepper in stock among the population is not much, and although the pest and disease situation still exists, it is not too serious.

According to KTĐT.vn

Pepper market on August 22, 2024

 

Pepper market on August 22, 2024: Increased by 2,000 VND

Posted onAugust 22, 2024by VPA

22
Aug

Pepper prices today, August 22, 2024, increased for the third consecutive day. Currently, the domestic pepper price has increased by 3,000 VND, trading at 142,000 - 144,000 VND/kg.

World pepper prices  today August 22

In the world, the pepper market on August 22 tended to increase again.

Accordingly, the price of Lampung black pepper in Indonesia increased by 0.16%, to 7,537 USD/ton. The price of Muntok white pepper in this country increased by 0.15%; at 8,874 USD/ton.

Malaysia's Kuching ASTA black pepper price remained at 8,500 USD/ton; This country's ASTA white pepper costs 10,400 USD/ton.

For the Brazilian market, the price of ASTA 570 black pepper increased by 1.98%; trading up to 6,300 USD/ton.

In Vietnam, the export price of 500 g/l black pepper is trading at 5,800 USD/ton; and the 550 g/l type is at 6,200 USD/ton. The export price of white pepper remains at 8,500 USD/ton.

Pepper type	Price (Unit: USD/ton)	Change
Lampung black pepper (Indonesia)	7,537	0.16%
Muntok white pepper	8,874	0.15%
Brazilian black pepper ASTA 570	6,300	1.98%
Kuching black pepper (Malaysia) ASTA	8,500	–
ASTA Malaysian white pepper	10,400	–
Black pepper type 500 g/l Vietnam	5,800	–
Black pepper type 550 g/l Vietnam	6,200	–
Vietnamese white pepper	8,500	–

World pepper prices today  increased in Indonesia and Brazil, while other markets remained stable.

Thus, world pepper prices on August 22, 2024 increased slightly compared to yesterday.

Pepper prices today  August 22 in the country

Domestically, the pepper market on August 22 continued to increase sharply compared to yesterday.

Specifically, Dak Lak increased sharply by 3,000 VND, purchasing pepper to 144,000 VND/kg;

With the above increase, Dak Nong pepper price today reached 144,000 VND/kg;

Gia Lai pepper price today increased by 2,000 VND, trading to 142,000 VND/kg;

Dong Nai traders also bought pepper at a price of 142,000 VND/kg, an increase of 1,000 VND;

Ba Ria - Vung Tau pepper price today increased by 2,000 VND, reaching 143,000 VND/kg;

Similarly, Binh Phuoc's pepper trading price increased to 142,000 VND/kg.

Province	Price	Increase/Decrease
Dak Lak	144,000	3,000
Dak Nong	144,000	3,000
Gia Lai	142,000	2,000
Dong Nai	142,000	1,000
Ba Ria – Vung Tau	143,000	2,000
Binh Phuoc	142,000	2,000

Latest domestic pepper price list dated August 22, 2024. Unit: VND/kg

Domestic pepper prices   today  continue to increase by 1,000 - 3,000 VND. With a 3-day increase in a row, the price of this agricultural product has reached 144,000 VND/kg.

According to data from the General Department of Vietnam Customs, Vietnam's pepper exports by the end of May 2024 reached 109,330 tons with a value of 469 million USD, down 16.8% in volume but increased by 15. 4% in value compared to the same period in 2023.

Meanwhile, China's return to purchasing goods also has a strong impact on pepper prices. Specifically, in May 2024, the amount of pepper exported to the Chinese market reached 3,137 tons; increased 4.8 times compared to the previous month and is the highest level achieved in the past 11 months.

Although prices have increased, businesses still have difficulty purchasing raw materials because pepper growers expect prices to continue to increase. Farmers in the Central Highlands and Southeast provinces have high income from durian and coffee, so they have enough financial capacity to store pepper. Many are even willing to store it for up to 2-3 years, not in a hurry to sell it.

Thus, the domestic pepper price on August 22, 2024 is trading around 142,000 - 144,000 VND/kg.

According to Nongnghiep.vn

 

Sea freight rates dropped sharply

Posted onAugust 22, 2024by VPA

22
Aug

Information from the Vietnam Maritime Administration shows that global shipping rates are trending down, creating favorable conditions for export businesses.

In particular, in August 2024, transport routes from Asia to the West Coast of the US and Europe recorded the sharpest decrease, ranging from 20 - 30% compared to the previous month.

Compared to the peak period in September 2021, when the global supply chain was seriously disrupted due to the COVID-19 pandemic,  ocean freight rates  have decreased by up to 44%.

Notably, each week freight prices decrease by an average of 3 - 4%, reflecting a stable downward trend in prices and is expected to continue in the near future.

Mr. Nguyen Thanh Tuan,  director of  Blue Sea Commercial Shipping Company (Phu Nhuan District, Ho Chi Minh City), said that although freight rates have cooled down, they are still high compared to before the pandemic.

Specifically, shipping rates from Europe are around 6,000 - 8,000 USD/40-foot container, from Asia to the West Coast of the US range from 5,000 - 6,000 USD/container. The US East Coast route alone remains high, ranging from 9,000 - 10,000 USD/container.

Similarly, Mr. Nguyen Hoai Chung, CEO of Phattaa - Vietnam's international logistics exchange - also said that freight rates from Asia to North America have dropped to 6,356 USD/40-foot container, down 1.52% compared to with the beginning of August and decreased by 19.28% compared to the previous month.

According to Mr. Chung, adding more ships on the trans  -Pacific trade route  has helped reduce space pressure, especially at ports in the southwest Pacific.

Also according to the Vietnam Maritime Administration, shipping rates will continue to decrease in the near future, after congestion at major ports around the world has been completely resolved.

This is a golden opportunity for  export businesses  to take advantage of lower transportation costs to boost business activities, expand markets and seek strong growth in the last months of the year.

Pepper market on August 20, 2024

 

Pepper market on August 20, 2024: Average increase of 1,000 VND

Posted onAugust 20, 2024by VPA

20
Aug

Pepper price today August 20 is in the range of 139,000 - 141,000 VND/kg. Pepper prices early this morning increased by 1,000 - 2,000 VND/kg. The International Pepper Community adjusted pepper prices in Indonesia on the first day of the week. In the past 7 months of 2024, Brazil's pepper exports decreased by 8%.

In Dak Lak province, today's pepper price was purchased at 141,000 VND/kg, an increase of 1,000 VND/kg.

In Dak Nong province, today's pepper price was purchased at 140,000 VND/kg, an increase of 1,000 VND/kg.

In Gia Lai province, pepper price today is at 139,000 VND/kg, an increase of 1,000 VND/kg.

Meanwhile in Dong Nai, pepper price today is at 139.00 VND/kg, an increase of 1,000 VND/kg.

In Ba Ria - Vung Tau province, pepper price today is at 140,000 VND/kg, an increase of 2,000 VND/kg.

In Binh Phuoc province, today's pepper price was purchased at 139,000 VND/kg, an increase of 1,000 VND/kg.

Pepper prices early this morning increased by 1,000 - 2,000 VND/kg compared to the same time yesterday.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,472 USD/ton, an increase of 0.8%; Brazilian black pepper price ASTA 570 is at 6,175 USD/ton; Kuching (Malaysia) ASTA black pepper price is 8,500 USD/ton.

Muntok white pepper price was 8,798 USD/ton, up 0.8%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam black pepper price is trading at 5,800 USD/ton for 500 g/l type; type 550 g/l at 6,200 USD/ton; White pepper price is at 8,500 USD/ton. IPC adjusted to increase pepper prices in Indonesia on the first day of the week.

Commenting on the market last week, IPC said there were mixed reactions.

Specifically, after 2 weeks of recording increases, domestic and export pepper prices of India and Sri Lanka stabilized last week.

In Southeast Asia, only Indonesian black pepper prices continued to increase since last week. Meanwhile, white pepper prices recorded a decrease when most farmers in this country were in the harvest season.

Malaysian domestic pepper prices recorded a decrease last week. Export prices are stable and do not change.

Brazilian black pepper prices continued to decrease over the past 3 weeks. Meanwhile, prices of Cambodian black pepper and Chinese white pepper continued to be stable and unchanged.

Also according to the International Pepper Community, in the past 7 months of 2024, Brazil's pepper exports decreased by 8%, to about 42 thousand tons, equivalent to 165 million USD.

According to KTĐT.vn

Pepper market on August 14, 2024

 

Pepper market on August 14, 2024: Indonesian and Brazilian pepper prices increased along with Vietnam

Posted onAugust 14, 2024by VPA

14
Aug

Pepper price today August 14 is in the range of 139,000 - 140,000 VND/kg. After a sharp decline at the beginning of the week, domestic pepper prices recovered slightly. In localities where the purchasing price is below the threshold of 140,000 VND/kg, purchasing power also decreased compared to last weekend. IPC also increased pepper prices in Indonesia and Brazil.

Pepper prices early this morning increased by 500 - 1,000 VND/kg compared to the same time yesterday. After a sharp decline at the beginning of the week, domestic pepper prices recovered slightly. In localities where the purchasing price is below the threshold of 140,000 VND/kg, purchasing power also decreased compared to last weekend.

The newly released 2024 status report of the Vietnam Pepper and Spice Association said that, according to Decision No. 431/QD-BNN-BNNPTNT of the Ministry of Agriculture and Rural Development dated January 26, 2024 on approving Approve the project to develop key industrial crops until 2030, in which pepper is planned for the whole country: 80,000 - 100,000 hectares, including the Central Highlands: 60,000 - 70,000 hectares; Southeast: 25,000 – 30,000 hectares; Other provinces: 5,000 - 10,000 hectares (Quang Tri, Quang Binh, Binh Thuan, Binh Dinh, Phu Yen, Kien Giang).

In terms of advantages, pepper is an agricultural crop with a long history of development, associated with the lives of many generations of people in the Central Highlands provinces and has become a concentrated commodity production industry, meeting all conditions. exported to the world market.

The provinces have issued policies to encourage the development of agriculture in general and high-tech agriculture in particular to support production development and increase value, including pepper.

Farmers have experience in intensive farming and pepper production, and scientific and technical advances are gradually being applied: organic pepper production, application of economical irrigation technology, reasonable use of fertilizers... gradually. Steps to bring pepper production towards sustainability and environmental friendliness.

Regarding difficulties, the application of technical procedures for planting, care and harvesting, and application of scientific and technical advances to ethnic minority areas is still limited. Breed structure is not yet rich. The ability to invest in farming and access capital is difficult. Agricultural input prices are high.

There is not much replication of the model. Infrastructure is not guaranteed and is outdated. Production also depends too much on nature. In addition, mechanisms, policies and solutions for sustainable pepper development have not been effectively implemented into actual production.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,334 USD/ton, an increase of 0.49%; Brazilian black pepper price ASTA 570 was at 6,175 USD/ton, up 1.21%; Kuching (Malaysia) ASTA black pepper price is 8,500 USD/ton.

Muntok white pepper price was 8,635 USD/ton, up 0.5%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam black pepper price is trading at 5,800 USD/ton for 500 g/l type; type 550 g/l at 6,200 USD/ton; White pepper price is at 8,500 USD/ton. IPC increased pepper prices in Indonesia and Brazil.

According to KTĐT.vn

Pepper market on August 12, 2024

 

Pepper market on August 12, 2024: Prices dropped sharply at the beginning of the week

Posted onAugust 12, 2024by VPA

12
Aug

Pepper price today August 12 is in the range of 137,000-138,000 VND/kg, a sharp decrease of 3,000-4,000 VND compared to last weekend.

The average export price of black pepper in 7 months reached 4,568 USD/ton, white pepper reached 6,195 USD/ton, up 32.7% for black pepper and 25% for white pepper respectively compared to the same period last year.

The US is Vietnam's largest pepper export market in 7 months, increasing by 48.4% and accounting for 26.4% of the market share reaching 43,349 tons. Next are the markets: Germany: 10,941 tons, up 97.3%; UAE: 10,897 tons, up 39.2%; India: 8,744 tons, up 39.7%; China ranked fourth with 8,059 tons, down 84.6% over the same period.

Regarding the Chinese market, experts say that it is possible that due to the strong increase in purchases last year and full warehouses, demand in the Chinese market will decrease this year, adding that the economy in China is still difficult. .

Regarding the upward momentum, experts added that for prices to increase, there must be a push from the market and there must be demand. The US and Europe account for nearly 50% of Vietnam's exports and have bought very strongly in the first 6 months of the year. In the last months of the year, if these two markets do not buy much, it may be difficult for prices to increase strongly again as before. This week's market is forecast to recover after falling sharply last week.

Indonesia and Brazil will enter the season, followed by Vietnam. Supply will increase rapidly in the last months of the year. Although it is forecast that in some places the output will not be as high as estimated, or the world supply is still not enough to meet demand, overall pepper prices in the medium term are unlikely to increase strongly.

Last weekend, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,320 USD/ton, an increase of 0.23%; Brazilian black pepper price ASTA 570 was at 6,100 USD/ton, down 4.92%; Kuching (Malaysia) ASTA black pepper price is 8,500 USD/ton.

Muntok white pepper price was 8,970 USD/ton, up 0.25%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam black pepper price is trading at 5,800 USD/ton for 500 g/l type; type 550 g/l at 6,200 USD/ton; White pepper price is at 8,500 USD/ton. IPC continues to increase pepper prices in Indonesia and decrease sharply in Brazil.

According to KTĐT.vn

Pepper market update 12th August 2024 – Week 32.

 

          •        Last week, the pepper price experienced fluctuations with a range of +/- $200/MT in a single day. After a decline, the pepper price quickly rebounded, with a large volume of transactions recorded in the market.

          •        Demand in various markets has improved, especially in the U.S. and the European Union. China has also started to resume purchases.

          •        By the end of the week, the pepper price decreased from 148,000 VND to 146,000 VND, corresponding to a reduction of 1.3%.

In July 2024, Vietnam exported 21,771 tons of pepper, black pepper reached 19,371 tons, white pepper reached 2,400 tons. Total export turnover reached 129.9 million USD, black pepper reached 112.2 million USD, white pepper reached 17.7 million USD, compared to June, export volume decreased by 22.7%, turnover decreased by 7.9% and compared to the same period in July 2023, export volume increased by 43.7% and turnover increased by 128.9%. The average export price of black pepper in July reached 5,861 USD/ton, white pepper reached 7,558 USD/ton, an increase of 15.7% for black pepper and 9.2% for white pepper compared to the previous month.

The United States is still Vietnam's largest export market in the month, accounting for 27.2% reached 5,914 tons, followed by markets: UAE: 2,509 tons, Germany: 1,415 tons, Netherlands: 940 tons, France: 936 tons. Exports to China only reached 606 tons, down 76.5% compared to June.

 

 

 

Pepper will be very difficult to enter the EU from 2025, why ?

 

Coffee, pepper and rice... will be very difficult to enter the EU from 2025, why?

Posted onAugust 10, 2024by VPA

10
Aug

Coffee, pepper and many key Vietnamese agricultural products exported to the European Union (EU) are forecast to face many difficulties in 2025 when the region strengthens food safety monitoring measures.

Many products including durian, bananas, mangoes, vegetables such as onions, garlic, chili and even products including rice, tea, coffee and products of animal origin are also subject to new regulations. strengthening animal and plant quarantine (SPS) measures for food imported into this area. There are 2 newly established active ingredients and 2 old active ingredients with commonly adjusted concentrations hundreds of times lower than current regulations. This will make Vietnam's agricultural product exports to the EU much more difficult.

The Vietnam SPS Office (Ministry of Agriculture and Rural Development) said that the World Trade Organization (WTO) SPS Committee Secretariat recently sent to EU members for comments regarding the EU's proposal. maximum residue levels (MRL) for some active ingredients. The comment period for these proposals is in August 2024 and is expected to be applied in February 2025.

Accordingly, with the active ingredient Zoxamide, Vietnam is having okra products exported to the EU that are subject to control measures at the border gate. The maximum residue level under the old regulations was 0.02ppm, but the new draft only allows 0.01ppm. Most notable are vegetables such as: Lettuce, lettuce, spinach, the old concentration is 30ppm, the new draft is only 0.01ppm.

Notably, for Vietnam, coffee and tea are products with great export value, the concentration according to regulations of 0.05ppm is currently only 0.01ppm.

With the active ingredient Acetamiprid, banana products according to the old regulations had a concentration of 0.4ppm, the new regulation is 0.01ppm; Bell peppers and sweet peppers from 0.3 now only 0.09ppm, tomatoes from 0.5ppm to 0.06...

In addition, the EU also applies control to two new active ingredients: Fenbuconazole and Penconazole. Among these, for Vietnam, citrus fruits and nuts such as cashews, macadamia nuts... concentrations are regulated at a very low level of only 0.01ppm. Okra is also a product that continues to be controlled with these two substances and the concentration is only 0.01ppm. With these two active ingredients, important Vietnamese products will be applied such as rice at a concentration of 0.01ppm; coffee, spices and honey at the same level of 0.05ppm.

Dr. Ngo Xuan Nam, Deputy Director of the Vietnam SPS Office, advised: The EU plans to apply these regulations from February 2025. Thus, manufacturers have 6 months to prepare appropriate adjustments. If we capture information promptly, proactively adjust and control the residue levels of the above 4 active ingredients, we are confident that we will meet EU regulations.

According to Thanh Nien

Ministry of Industry and Trade: Vietnam pepper market will benefit in pr...

 

Ministry of Industry and Trade: Vietnam pepper market will benefit in price because of scarce supply

Posted onAugust 8, 2024by VPA

08
Aug

The Import-Export Department (Ministry of Industry and Trade) stated that the scarce supply could help the Vietnamese pepper market benefit in price. This can also open up opportunities for Vietnam to increase market share, further strengthening its position in key markets such as the US, China and Europe.

According to the Import-Export Department  (   Ministry of Industry and Trade), the global pepper supply is supplemented when Indonesia enters the harvest season, starting in July. However, Brazil, the second largest black pepper producing country in the world, world, is facing continuous crop failures due to drought.

According to some farmers in the Espirito Santos region (Brazil), the harvest in 2024 may be 25-30% lower due to the heat causing most of the first cotton to fall and the ratio of fruit set to cotton to decrease. Phase 2 and phase 3 are quite low so it is expected to only reach about 70% compared to last year. Overall, the whole country in 2024 could decrease by 20-25% compared to 2023.

According to experts, signs of supply shortage compared to demand will continue to be recorded in the market in the near future. In addition, rapidly rising  freight  costs  and port congestion in Asia also impact prices in import markets, and can cause shipping delays, causing prices to increase in the medium to long term. term.

The Pepper and Spice Association (VPSA) said data showed that by the end of July, Vietnam had  exported   an estimated 164,300 tons, with a turnover of 652 million USD, down 2.2% in volume but up 41%. % in value compared to the same period in 2023. The association estimates that Vietnam's pepper output in 2024 will only reach about 170,000 tons, down 10% compared to the previous year, this is also the lowest level in the last 5 years.

 Source: VPSA (compiled by US)

Meanwhile, there are still about 6 months left until the new harvest (expected after the Lunar New Year from February 2025) while the amount of goods remaining with people, agents and businesses is not as much as VPSA previously assessed. This.

Mr. Le Duc Huy - General Director of 2/9 Dak Lak Import-Export Company Limited - Simexco said that Vietnam's inventory is about 30%, equivalent to 50,000 - 55,000 tons.

The Import-Export Department said that Vietnam's pepper industry will enjoy price benefits in the near future due to scarce supply. This can also open up opportunities for Vietnam to increase market share, further strengthening its position in key markets such as the US, China and Europe.

According to VPSA, the lack of supply will cause  pepper prices   in the near future to continue to have unusual fluctuations like on June 11 when the price increased sharply by 20,000 VND/kg in the morning but dropped sharply in the afternoon. return.

However, Mr. Huy said that in the first half of this year, Vietnam's traditional purchasing markets imported large amounts of pepper. This means that they are not in a hurry to buy more goods and are waiting.

Therefore, this person believes that although the supply shortage continues, pepper prices will hardly increase as strongly as at the beginning of the year.

“It is likely that pepper prices will remain at this level in the near future. Farmers still expect prices to increase dramatically again, but personally, in my opinion, this is very difficult," Mr. Huy said.

According to VietnamBiz.vn