Pepper Market September 10, 2024

 

Pepper Market September 10, 2024: Price increased slightly compared to yesterday

Posted onSeptember 10, 2024by VPA

September 10

Pepper prices today, September 10, ranged from 154,000 to 155,000 VND/kg. IPC adjusted pepper prices in Indonesia in opposite directions while keeping them stable in other countries at the beginning of the week. Vietnam's domestic and export pepper prices both increased in the first week of September 2024.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,542 USD/ton, down 0.48%; the price of Brazilian black pepper ASTA 570 at 7,500 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,800 USD/ton.

Muntok white pepper price is 9,097 USD/ton, up 1.91%; Malaysian ASTA white pepper price is at 10,900 USD/ton.

Vietnam black pepper prices are trading at 6,600 USD/ton for 500 g/l; 7,000 USD/ton for 550 g/l; and 9,300 USD/ton for white pepper. IPC adjusted pepper prices in Indonesia in opposite directions while keeping them stable in other countries at the beginning of the week.

The International Pepper Community commented that the market in the first week of September continued to show mixed reactions.

Specifically, in the South Asian region, domestic and export pepper prices in India have been stable since last week. Meanwhile, domestic pepper prices in Sri Lanka have increased over the past week.

In Southeast Asia, after two weeks of increases, domestic and international pepper prices in Indonesia stabilized last week, amid more inventory in the market after some major producing regions completed their harvest.

Malaysian domestic pepper prices continued to decline over the past two weeks. After remaining stable for four consecutive weeks, the country’s export prices recorded an increase last week.

Brazilian black pepper prices continued to increase over the past three weeks. Meanwhile, Cambodian black pepper and Chinese white pepper prices remained stable and unchanged. Meanwhile, domestic and export pepper prices in Vietnam both increased in the first week of September 2024.

Previously, the Vietnam Pepper and Spice Association said that the average export price of black pepper in the past 8 months reached 4,712 USD/ton, white pepper reached 6,326 USD/ton, up 1,270 USD for black pepper and 1,371 USD for white pepper compared to the same period last year. By the end of August, Vietnam had exported 183,756 tons of pepper of all kinds, far exceeding the output of this year's harvest.

According to KTĐT.vn

Pepper market update 9th Sept 2024 – Week 36

 

 

-      Last week, the price of pepper increasing from 156,000 VND to 159,000 VND, corresponding to a 1.92% increase.

-      The demand is very good in various markets such as the EU, Middle East, and Asian countries, while demand from China has quieted down again compared to last week after the sharp increase in pepper prices in week 35.

-      However, at the end of the week on Saturday and Sunday, demand from China surged again, making the market more active.

 -      Shipping rates to the U.S. have been significantly reduced by about $2,000 per 40-foot container in the past week. Other routes such as the EU, Asia, and Africa have maintained stable shipping rates with little change.

 -      The VND continued to strengthen by about 1%, which has led to an increase in the price of pepper when converted to USD. It is forecasted that the VND will continue to appreciate as the USD may weaken due to the Fed lowering interest rates.

 

 

Please see the REPORT FILE & FULL QUOTATION LIST by click to download.

https://ptexim.com.vn/reports/report-of-the-pepper-market-and-other-spices-in-august-2024/

 

 

 

 

Pepper Market September 8, 2024: A Week of Unpredictable Fluctuations in Pepper Prices

Posted onSeptember 8, 2024by VPA

08
Sep

Overall, pepper prices have increased by about 2,000 - 4,000 VND/kg over the past week. At the end of the first 8 months of the year, Vietnam's pepper exports to major markets such as the US, EU, India, UAE... all increased sharply compared to the same period last year.

In the domestic market

Pepper prices  on the weekend fluctuated at 152,000 - 153,000 VND/kg.

However, in general, pepper prices have increased by about 2,000 - 4,000 VND in the past week and have increased by 9,000 - 11,000 VND since the end of August.

Of which, Ba Ria - Vung Tau and Dong Nai are the two localities with the strongest price increase last week, both increasing by 4,000 VND, to 153,000 VND/kg.

Pepper prices in Dak Lak and Dak Nong provinces are also being purchased at 153,000 VND/kg, an increase of 3,000 VND over the past week.

In Gia Lai and Binh Phuoc provinces, the price increased by VND2,000/kg and was traded at VND152,000/kg.

Province/district (survey area)	Purchase price on September 8 (Unit: VND/kg)	Change from previous day (Unit: VND/kg)	Change compared to the beginning of the week (Unit: VND/kg)
Dak Lak	153,000	-1,000	+3,000
Gia Lai	152,000	-1,000	+2,000
Dak Nong	153,000	-1,000	+3,000
Ba Ria – Vung Tau	153,000	-1,000	+4,000
Binh Phuoc	152,000	-1,000	+2,000
Dong Nai	153,000	-1,000	+4,000

 Source: Hoang Hiep compiled from giatieu.com.

On the world market world

According to data from the International Pepper Community (IPC), black pepper trading prices in major producing countries did not fluctuate much in the most recent trading session.

Overall, over the past week, the price of Brazilian black pepper ASTA 570 recorded an increase of up to 16.3%, at 7,500 USD/ton.

 Vietnam's 500 g/l and 550 g/l black pepper  exports  are being traded in the range of 6,600 - 7,000 USD/ton, up 7.7 - 8.2% compared to the beginning of the week.

Similarly, black pepper export prices from Indonesia and Malaysia also increased by 0.7% and 3.5% last week.

Type name	World black pepper price list
	September 8 (Unit: USD/ton)	% change from previous day	% change from the beginning of the week
Lampung Black Pepper (Indonesia)	7,578	0	0.7
Brazilian Black Pepper ASTA 570	7,500	0	16.3
Kuching Black Pepper (Malaysia) ASTA	8,800	0	3.5
Vietnamese black pepper (500 g/l)	6,600	0	8.2
Vietnamese black pepper (500 g/l)	7,000	0	7.7

At the same time of survey, white pepper prices of Indonesia, Malaysia and Vietnam increased by 4.2%, 4.8% and 5.7% respectively last week.

Type name	World white pepper price list (Unit: USD/ton)
	September 8	% change from previous day	% change from the beginning of the week
Muntok White Pepper (Indonesia)	8,855	0	4.2
ASTA Malaysian White Pepper	10,900	0	4.8
Vietnam white pepper	9,300	0	5.7

According to the Vietnam Pepper and Spice Association, in the first 8 months of the year, Vietnam exported 183,756 tons of pepper of all kinds, with a turnover of 881.2 million USD, down 2.1% in volume but up 43% in turnover compared to the same period last year.

Of which, black pepper reached 162,721 tons, turnover of 754.1 million USD; white pepper reached 21,035 tons, turnover of 127.1 million USD.

The average export price of black pepper in the first 8 months of the year reached 4,712 USD/ton, white pepper reached 6,326 USD/ton, an increase of 1,270 USD for black pepper and 1,371 USD for white pepper respectively compared to the same period last year.

Of which, the export volume to the US in 8 months reached 51,823 tons, an increase of 54.3% over the same period last year and nearly equal to the total export volume of the whole year 2023 (54,271 tons), accounting for 28.2% of the market share.

Next are the markets: Germany: 12,021 tons, up 96.3%; UAE: 11,744 tons, up 29.6%; India: 9,086 tons, up 10.2%; China: 8,388 tons, down 84.4%; Netherlands: 7,503 tons, up 35.9%...

According to VietnamBiz.vn

Pepper Market September 7, 2024

 

Pepper Market September 7, 2024: Price slightly decreased again

Posted onSeptember 7, 2024by VPA

07
Sep

Pepper price today, September 7, is around 152,000 - 153,000 VND/kg, down slightly by 1,000 VND compared to yesterday.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,578 USD/ton, up 0.24%; the price of Brazilian black pepper ASTA 570 at 7,500 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,800 USD/ton, up 3.41%.

Muntok white pepper price is 8,923 USD/ton, up 0.25%; Malaysian ASTA white pepper price is at 10,900 USD/ton, up 4.59%.

Vietnam black pepper price is traded at 6,600 USD/ton for 500 g/l; 550 g/l at 7,000 USD/ton; white pepper price is at 9,300 USD/ton. IPC increased pepper prices in Southeast Asian countries compared to yesterday.

According to preliminary statistics of the Vietnam Pepper and Spice Association, in August 2024, Vietnam exported 19,399 tons of pepper of all kinds, of which black pepper reached 17,391 tons and white pepper reached 2,008 tons.

Total export turnover reached 117 million USD, black pepper reached 102.0 million USD, white pepper reached 15.0 million USD. Compared to the previous month, export volume decreased by 10.9%, turnover decreased by 9.9% and compared to August 2023, export volume decreased by 1.1% but turnover increased by 59.4%.

The average export price of black pepper in August reached 5,891 USD/ton, white pepper reached 7,462 USD/ton, an increase of 30 USD for black pepper but a decrease of 96 USD for white pepper compared to the previous month.

In August, pepper exports to the US broke an all-time high, with exports reaching 8,474 tons, up 43.3% compared to July and accounting for 43.7% of the export market share. Next are the markets: Germany: 1,080 tons, down 23.7%; UAE: 847 tons, down 66.2%. Exports to China reached only 329 tons, down 45.7% compared to the previous month.

Phuc Sinh was the leading pepper exporting enterprise in August, reaching 2,742 tons, up 12.3% compared to the previous month and accounting for 14.1% of the export market share. Following are the enterprises: Olam Vietnam: 2,218 tons, down 17.5%; Haprosimex JSC: 1,967 tons, up 10.1%; Nedspice Vietnam: 1,718 tons, down 8.9% and Lien Thanh: 1,580 tons, up 35.9%.

In the opposite direction, Vietnam imported 1,491 tons, of which black pepper reached 1,214 tons and white pepper reached 277 tons, with a total import turnover of 8.2 million USD, compared to the previous month, the import volume decreased by 19.6%.

Brazil was the largest pepper supplier to Vietnam with 736 tons, up 808.6% over the previous month, followed by Indonesia and Cambodia. Tran Chau was the largest importer with 669 tons, up 435.2% over July.

According to KTĐT.vn

Pepper Market September 6, 2024

 

Pepper Market September 6, 2024: Price increases again

Posted onSeptember 6, 2024by VPA

06
Sep

Pepper price today, September 6, is around 153,000 - 154,000 VND/kg, an increase of 3,000 - 4,000 VND compared to yesterday. The target of billion-dollar pepper export is within reach.

The increase that started in late August 2024, after nearly a week, is now about 6,000 - 7,000 VND/kg higher than before. More importantly, the domestic increase during the recent holiday has helped export pepper prices increase by 500 USD/ton.

Commenting on the market, experts said that pepper price movements often depend on timing, and short-term increases and decreases can still occur because they are influenced by many factors.

Businesses also commented that pepper prices have decreased in the past few months after peaking mainly due to seasonal factors and the export situation and delivery time of businesses.

Indonesia is in the harvest season, followed by Brazil, and Vietnam will enter its harvest season early next year. However, pepper prices can still be good even at harvest time if the mentality of hoarding and waiting for prices is still common among dealers and farmers.

According to a report by the Ministry of Agriculture and Rural Development, in the first 8 months of 2024, Vietnam exported 185,000 tons of pepper, earning about 891 million USD, a slight decrease of 1.4% in output but a sharp increase of 44.9% in value. Thus, the target of a billion-dollar pepper export industry is within reach.

The average export price of pepper in the first 8 months of this year is estimated at 4,810 USD/ton, a sharp increase of 47% over the same period last year. In August 2024 alone, pepper exports increased by 9.7% in volume and 75.1% in value compared to the same period in 2023, as the average export price increased by 69.6%.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,521 USD/ton; the price of Brazilian black pepper ASTA 570 at 7,500 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 8,855 USD/ton; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam's black pepper price is trading at 6,600 USD/ton for 500 g/l; 550 g/l at 7,000 USD/ton; white pepper price at 9,300 USD/ton. IPC keeps pepper prices in other countries unchanged compared to the previous day.

According to KTĐT.vn

 

Prices increase sharply, Vietnamese businesses sell 'black gold' and earn 900 million USD

Posted onSeptember 4, 2024by VPA

04
Sep

Since the beginning of the year, the export price of "black gold" has increased sharply, helping Vietnamese businesses earn nearly 900 million USD from selling this strong product.

On the first day of September, pepper prices continued to increase, reaching VND144,000-146,000/kg depending on the locality. This price is still quite far from the historical peak of VND180,000/kg in June, but is still about 80% higher than at the beginning of this year and double that of the same period last year.

In the world market, according to data from the International Pepper Community (IPC), at the end of the most recent trading session, the price of Vietnamese black pepper was at 6,100 USD/ton for 500 g/l; 550 g/l was priced at 6,500 USD/ton; the price of white pepper was at 8,800 USD/ton.

The latest report from the Ministry of Agriculture and Rural Development shows that the average export price of pepper - the type of grain considered as "black gold" of Vietnam in the first 8 months of this year is estimated at 4,810 USD/ton, a sharp increase of 47% over the same period last year.

Notably, the price increase of “black gold” has been maintained since 2023. In particular, this year has witnessed a sharp increase in the export price of pepper, from 4,000 USD/ton in January to 5,954 USD/ton in August (average price).

Accordingly, Vietnamese enterprises have “embraced” about 891 million USD thanks to the sale of 185,000 tons of “black gold”. Compared to the same period last year, the export of this item decreased slightly by 1.4% in output but the value increased sharply by 44.9%.

In August alone,  pepper exports  increased by 9.7% in volume and increased sharply by 75.1% in value compared to the same period in 2023, as the average export price increased by 69.6%.

Regarding the export market, the US is still the largest customer, spending 205.3 million USD to buy nearly 43,170 tons of pepper from our country. Compared to the same period last year, pepper exports to this market increased by 47.5% in volume and 74.9% in value.

Among the top 3 largest pepper export markets, Germany and the United Arab Emirates are spending a lot of money to buy this "black gold" from Vietnam.

Specifically, the amount of pepper exported to Germany doubled compared to the same period last year, with export value reaching over 57 million USD, an increase of 152.5%. Pepper exports to the United Arab Emirates also increased by 40.2% in volume and a sharp increase of 113.9% in value.

Vietnam's reduced pepper supply has pushed up global prices of this commodity. Illustration photo: Huchaco

Currently, the amount of pepper exported in the past 8 months has exceeded the output of 170,000 tons of the 2024 harvest. Meanwhile, the inventory from last year carried over to this year is estimated at about 30%, equivalent to 50,000-55,000 tons.

According to the Vietnam Pepper and Spices Association (VPSA), global pepper trade decreased sharply in the first half of this year.

Among the world's five largest pepper exporting countries, Indonesia and India saw their export volumes increase by 48.3% and 34.1% respectively. However, Vietnam and Brazil, the world's two largest pepper producing countries and accounting for the majority of global export market share, saw their exports decline by 6.8% and 6% respectively compared to the same period last year. Therefore, the sharp increase in supply from Indonesia and India still could not offset the decline in Vietnam and Brazil.

Ms. Hoang Thi Lien - President of VPSA said that the decrease in harvest output in Vietnam and Brazil is the main reason for the increase in pepper prices in the world market.

Currently, our country's pepper inventory is not much, so in the last months of this year, the export of this item will be lower than in previous years and will last until about March 2025 when the new harvest season begins. Therefore, the price of this item globally is forecast to continue to increase and stay at a high level.

To meet consumption and production needs, in the past 8 months, Vietnamese businesses have spent about 85 million USD to import pepper, a sharp increase of 34.5% compared to the same period last year. The amount of imported pepper is also forecast to increase because domestic supply is running out.

According to VietnamNet.vn

R

 

Pepper Market September 4, 2024: Prices continue to increase

Posted onSeptember 4, 2024by VPA

04
Sep

Pepper prices today, September 4, are around 152,000 - 153,000 VND/kg. This is the 5th consecutive day of increase in the domestic market. It seems that China's inventory has decreased significantly after a long period of minimal purchases, forcing it to buy in large quantities to compensate.

In the first 7 months of 2024, China's pepper imports from Vietnam reached only 8,059 tons (compared to the normal annual import level of 50,000-57,000 tons from Vietnam, excluding the Covid years). However, last week, demand from China returned with immediate orders in large quantities of 3,000 to 4,000 tons.

China's inventories have fallen significantly after a long period of minimal purchases, forcing it to buy in large quantities to make up for a shortage of raw materials as global pepper output is expected to continue to decline over the next few years.

In addition, there is also strong demand from the Middle East market for orders immediately after selling out cheaper imported stocks earlier this year, making the pepper market more vibrant.

Brazil, the world's second-largest producer and exporter of black pepper, has suffered a crop failure, sending global prices soaring for the remainder of 2024. Pepper supply will lag demand over the next three to five years.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,488 USD/ton, down 0.13%; the price of Brazilian black pepper ASTA 570 at 7,000 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 8,817 USD/ton, down 0.14%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnamese black pepper prices are trading at 6,100 USD/ton for 500 g/l; 6,500 USD/ton for 550 g/l; and 8,800 USD/ton for white pepper. IPC continues to reduce Indonesian pepper prices for the third consecutive day.

According to KTĐT.vn