PEPPERTRADE SPICES BOARD BLOG #Pepper #Spices: RGT Pepper mkt monthly update week 19

Vietnam Pepper spike in price occurred over week 18 from initial 60s pricing ranged crossing into the highs of 70s; it went even firmer opening week 19 at 76,000 VND/kg levelling up to 77,500 VND/kg same day itself.

Thus, the current upward movement caused an awakening of buying pressure.
Today, market reporting raw at 78-78,500 with less raw materials available.
This is a three-week straight high with 9% jump in price in just a span of one (1) week influenced by reported strong buying demand from China and Middle East alongside continued support coverage from large exporters.

Pepper price trend
Beginning of year, raw materials were being traded at lows of 59,500 VND/kg, following months, pricing was seen moving sideways with noticeable reservation on side of farmers who were consistently seen holding their positions.
Slowly, market gained its momentum during mid-April then unexpectedly hitting record highs this May month nearing to reach 80’s range–a 24% uptrend in price from beginning month to today.

Vietnam Pepper April Export
According to custom export data, Vietnam exported about 27.8K tons for the month of April 2023. This would mean about 107K tons of Pepper were out already from Vietnam, the said number is higher of about 23% export volume achieved from last year same period recorded.

Indonesia
Indonesia pepper price also firm due to the influence of Vietnam and Brazil, expected decline in crop, alongside continuous appreciation of Indonesian Rupiah against the US Dollars, they have now reportedly implemented a more concrete currency trade system to shift away from USD.

Brazil Pricing Overview
The price of raw materials were up by 19% compared to beginning of this year but down by about 10% in pricing average compared to last year same month period.

FOB price jumped by $400-500 pmt in span of 1 week with offers that remains very limited despite huge demand overseas. Farmers reportedly are seen prioritizing coffee harvest and would rather wait by July month before focusing on Pepper.

The Brazilian Real traded at 4.9 against US Dollars, a 9% local jumped from its lowest this year, influencing the raw material initial 13 BRL/kg pricing reaching the highs of 14,50-16 BRL/kg this week.

Brazil Pepper April Export Brazil was able to export about 8,563 tons of pepper this April, generating about 28,820 tons for the first 4 months of the year, 4% higher from last year period recorded.
The highest importer of Brazil Pepper is Vietnam, imported about 5,378 tons for the first four months of the year. Followed by Senegal at about 3,685 tons for the same period.

This report published by