Pepper market on July 31, 2024

 

Pepper market on July 31, 2024, pepper prices stagnated for 4 consecutive sessions

Posted onJuly 31, 2024by VPA

31
Jul

Pepper price today is stable in the range of 149,000 - 150,000.

Update pepper prices

In the domestic market

Latest records,  today's pepper prices  continue to move sideways nationwide.

Currently, traders in Dak Lak, Ba Ria - Vung Tau, Dong Nai and Dak Nong continue to buy pepper at the highest price of 150,000 VND/kg.

Lower at 149,000 VND/kg is the purchasing price in Gia Lai and Binh Phuoc provinces.

Province/district (survey area)	Purchasing price (Unit: VND/kg)	Change compared to yesterday (Unit: VND/kg)
Dak Lak	150,000	–
Gia Lai	149,000	–
Dak Nong	150,000	–
BA Ria Vung Tau	150,000	–
Binh Phuoc	149,000	–
Dong Nai	150,000	–

On the world world market

According to an update from the International Pepper Association (IPC) on July 30 (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 remained stable compared to July 29.

Type name	World black pepper price list (Unit: USD/ton)
	July 29	July 30	% change
Lampung black pepper (Indonesia)	7.153	7,138	-0.21
Brazilian black pepper ASTA 570	6,950	6,950	0
Kuching black pepper (Malaysia) ASTA	7,500	7,500	0

At the same time of the survey, the purchasing price of Muntok white pepper decreased by 0.21% and the price of Malaysian white pepper ASTA had no new changes.

Type name	World white pepper price list (Unit: USD/ton)
	July 29	July 30	% change
Muntok white pepper	8,765	8,747	-0.21
ASTA Malaysian white pepper	8,800	8,800	0

Brazil's pepper export price to Vietnam reached an average of 3,488 USD/ton, up 19% compared to the first half of last year, but the lowest among the top 15 countries importing pepper from Brazil. At the same time, it is significantly lower than Vietnam's average export price of 4,454 USD/ton to the international market during the same period.

Other leading pepper export markets of Brazil in the first half of 2024 include: India reaching 3,892 tons, an increase of 47.2%; Pakistan reached 3,703 tons, an increase of 63.3%...

In addition, the amount of pepper shipped to the US and EU increased sharply. Specifically, exports to the US increased nearly 8 times to 1,402 tons, to Germany increased 14.8%, to France increased 37.1%, to Italy increased 150%. However, some other markets such as Senegal, Morocco, Egypt, the Netherlands... witnessed a decline.

Brazil is currently the second largest pepper producer and exporter in the world after Vietnam, accounting for 17-18% of global supply. However, the country's pepper exports are facing the risk of a decline for the third consecutive year due to crop failure.

It is expected that Brazil will enter the next harvest in August in the Espirito Santos region and in November in the Para region. It is estimated that Brazil will collect about 60,000 more tons.

According to VietnamBiz.vn

Pepper market on July 28, 2024

 

Pepper market on July 28, 2024, the market last week increased again in localities

Posted onJuly 28, 2024by VPA

28
Jul

Pepper prices today  fluctuate between 148,000 - 150,000 VND/kg. Over the past week, pepper prices increased by about 3,000 - 4,000 VND/kg.

Update domestic pepper prices

Pepper prices last week increased from 3,000-4,000 VND in localities.

Specifically, after increasing 3,000 VND/kg, the two provinces of Ba Ria - Vung Tau and Binh Phuoc adjusted the transaction to a common level of 148,000 VND/kg.

Traders in Gia Lai and Dong Nai are buying pepper at a price of 149,000 VND/kg, an increase of 4,000 VND/kg.

The highest transaction level of 150,000 VND/kg was recorded in Dak Lak and Dak Nong after an increase of 4,000 VND/kg.

Update pepper information

According to data from the General Department of Customs, in the first 6 months of the year, Vietnam exported a total of 141,392 tons of pepper of all kinds with a value of 629.9 million USD, down 7.4% in volume but increasing by more than 30% in value compared to the same period in 2023.

Of which, India is Vietnam's fourth largest pepper consumption market with a volume of 6,813 tons, worth 28 million USD, a sharp increase of 46.5% in volume and up to 90.6% in value.

According to data from the Indian Ministry of Commerce, by the end of May, the country's total pepper imports reached 12,482 tons, an increase of nearly 11% over the same period last year.

Notably, Vietnam was the largest pepper supplier to India in the first 5 months of the year with a volume of 5,220 tons, an increase of 42.5% over the same period last year. This result helps Vietnam's pepper market share in India expand from 32.5% to 41.8%.

Next is Sri Lanka reaching 2,790 tons, down 1.7% and accounting for 22.4% market share; Brazil reached 2,554 tons, an increase of 50.7% and accounting for 20.5%; Indonesia reached 1,274 tons, an increase of 5.9% and accounting for 10.2%.

The four countries mentioned above accounted for a total of nearly 95% of India's pepper supply in the first 5 months of the year.

Vietnam's average export price of pepper to India in 5 months increased by 29.7% to 4,371 USD/ton, higher than the price of 3,414 USD/ton in Brazil and 3,141 USD/ton in Indonesia, but lower than the price of 3,414 USD/ton in Brazil and 3,141 USD/ton in Indonesia. with Sri Lanka's figure of 6,190 USD/ton.

According to VietnamBiz.vn

Pepper market on July 25, 2024

 

Pepper market on July 25, 2024: Average price 149,000-150,000 VND/kg

According to official data, Vietnam is no longer the largest supplier to China in the first half of this year

Posted onJuly 25, 2024by VPA

25
Jul

Pepper price today July 25 is in the range of 148,000 - 150,000 VND/kg. Pepper prices early this morning decreased by 1,000 VND/kg in Ba Ria - Vung Tau and Dak Lak. According to official data, Vietnam is no longer the largest supplier to China in the first half of this year.

Experts say that continuous heavy rains in the last days of July help ease concerns about affecting pepper output in the coming season. Thereby pushing the market down slightly.

According to data from China Customs, in June 2024, the country imported more than 2,000 tons of pepper, 2.5 times more than in May and up 40% over the same period last year.

Among pepper supplies to China from abroad, Indonesia accounts for more than half with 1,375 tons, more than twice the same period last year. This is the largest source of pepper for China through official channels in June and the first 6 months of the year.

The average price of imported pepper in the Chinese market in June was more than 4,400 USD/ton, up 22% over the same period last year but down 7.4% compared to May.

According to official data, Vietnam was the second largest pepper supplier to China (after Indonesia) in the first half of this year with 1,515 tons, down 7.6% over the same period last year. At the same time, Vietnam's market share in China accounted for 32.7%, down slightly from 36.5% in the same period last year.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,191 USD/ton; Brazilian black pepper price ASTA 570 is at 7,125 USD/ton; Kuching (Malaysia) ASTA black pepper price is 7,500 USD/ton.

Muntok white pepper price 9,157 USD/ton; Malaysian ASTA white pepper price is at 8,800 USD/ton.

The price of Vietnamese black pepper is trading at 6,000 USD/ton for 500 g/l type; type 550 g/l at 6,600 USD/ton; White pepper price is at 8,800 USD/ton.

According to KTĐT.vn

Pepper market on July 24, 2024

 

Pepper market on July 24, 2024: Price dropped back to 147,000 VND/kg

Posted onJuly 24, 2024by VPA

24
Jul

Pepper price today 24/7 is in the range of 147,000 - 148,000 VND/kg, down 1,000-2,000 VND compared to yesterday. Indonesia harvests pepper in July with expected good output. While production estimates are good, they may not have much of an impact on prices as speculators have tried to buy up all available material.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,191 USD/ton; Brazilian black pepper price ASTA 570 is at 7,125 USD/ton; Kuching (Malaysia) ASTA black pepper price is 7,500 USD/ton.

Muntok white pepper price 9,157 USD/ton; Malaysian ASTA white pepper price is at 8,800 USD/ton.

The price of Vietnamese black pepper is trading at 6,000 USD/ton for 500 g/l type; type 550 g/l at 6,600 USD/ton; White pepper price is at 8,800 USD/ton. IPC continues to maintain pepper prices in other countries.

In the latest weekly report, IPC stated that Chinese white pepper prices recorded an increase. Prices increased sharply in the past month in Hainan, China due to expected low output and domestic speculation.

According to surveys, in recent years, the pepper growing area on Hainan Island - China has been about 330,000 mu (Chinese measurement unit, 1 mu = 666.7 m2), accounting for more than 90% of the total planted area. target of this country.

Although it is China's main pepper production area, Hainan Island is not the main import-export trade area, pepper trading activities are mainly carried out in Yulin - Guangxi and Bozhou - An. Huy.

This year in China's main pepper production area, crop failure is also worrying, and speculation is also hoarding goods. Since the beginning of the year, the amount of pepper exported from Vietnam to this market has decreased sharply. According to data, China still imports about 50,000 thousand tons of pepper from Vietnam every year.

According to experts, perhaps China and European traders are waiting for information and new releases from the harvest in Indonesia. If the crop in this Southeast Asian country is less favorable, low output and prolonged domestic speculation in China will force them to increase imports of Vietnamese pepper again. This will be the year-end growth driver for Vietnamese pepper.

According to the Center for Industry and Trade Information (Ministry of Industry and Trade), Indonesia harvested pepper in July with expected good yields in most key growing areas. Scattered rains during the growing stage are beneficial for pepper fruit formation. While production estimates are good, they may not have much of an impact on prices as speculators have tried to buy up all available material.

According to KTĐT.vn

Brazil's widespread crop loss: What opportunities are there for the Vietnamese pepper industry?

 

*Vietnamese pepper prices are forecast to have room to increase in the context of widespread Brazilian pepper crop failures for the third consecutive year.

*Pepper price 'evaporated' by nearly 30,000 VND/kg after reaching a record high:
What is the reason?

*Pepper exports in the first 6 months of 2024: Output decreases, turnover increases
There are many new developments, what will be the future price of pepper?

Opens up opportunities for Vietnamese pepper

According to new data announced by the Brazilian Government, the country's pepper exports in June 2024 only reached 5,333 tons, down 9.7% compared to May 2024. In the first 6 months of this year, Brazil exported 37,181 tons of pepper, down 6% compared to the same period in 2023.
The main reason why Brazilian pepper exports decreased was due to a sharp decrease in harvest output due to the effects of drought and disease. Brazil's two largest pepper growing regions, Espirito Santos and Para, are expected to enter new harvests in August and November, respectively. However, experts predict that this year's harvest in these two regions may decrease by 20-30% compared to 2023, down to only about 60,000 tons.

Therefore, NedSpice forecasts that Brazil's total pepper output this year will decrease by 18.2% compared to 2023, to 90,000 tons. Brazil is currently the second largest producer and exporter of black pepper in the world after Vietnam, accounting for 17 - 18% of the total global supply. Therefore, the continuous crop failure in Brazil will cause a global spillover effect, which is expected to push up global pepper prices in the last months of this year when pepper supply from other large producing countries such as Vietnam, Malaysia, Indonesia... also all declined significantly.
Brazil's crop failure is expected to open up opportunities for the Vietnamese pepper industry to increase market share and further strengthen its position in key markets such as the US, China and Europe. However, Vietnamese businesses may also have difficulty finding alternative sources of supply for Brazilian pepper, especially when freight rates are still high and maritime congestion has not been completely resolved. to.

In addition, Brazil's pepper export price to Vietnam in the first half of this year was also significantly lower than Vietnam's average export price to the international market. Therefore, the shortage of imported pepper supply from Brazil may cause domestic pepper prices to increase in the coming months.

Brazilian pepper exports decreased sharply this year due to the impact of drought and disease. This is expected to push global pepper prices up in the last months of this year, creating opportunities for the Vietnamese pepper industry to increase its market share. However, Vietnamese businesses also need solutions to cope with supply shortages and price fluctuations.

Commenting on the market, Vice Chairman of Chu Se Pepper Association (Gia Lai) Hoang Phuoc Binh said that currently pepper prices are in a state of "shaking", meaning sometimes up, sometimes down, but looking at The general trend will continue to increase. The main reason is that the supply of pepper in Vietnam is currently exhausted because the output of the 2023 - 2024 crop also decreased quite a lot compared to the previous crop.

The whole year's export forecast is more than 1 billion USD

Besides, according to data from the Vietnam Pepper and Spice Association (VPSA), as of July 15, 2024, the total export turnover of pepper reached 690.7 million USD and imports reached 74 million USD. 1 million USD (mainly raw materials). Thereby, the entire industry had a trade surplus of 616.6 million USD.

Regarding exports, in the first 6 months of the year, Vietnam exported 142,586 tons of pepper of all kinds, worth 634.2 million USD, down 6.8% in volume but up 30.5% in turnover. Specifically, the amount of black pepper exported reached 125,959 tons, worth 539.9 million USD; White pepper reached 16,627 tons, worth 94.3 million USD.

The highlight in pepper exports in the first 6 months of the year is the high selling price. The average price of exported black pepper reached 4,365 USD/ton, white pepper reached 5,983 USD/ton, an increase of 922 USD/ton for black pepper and 1,028 USD/ton for white pepper compared to the first 6 months of 2023.

In the domestic market, in recent days, pepper prices have fluctuated around 150,000 VND/kg, twice as high as in 2023.

VPSA stated that the reason why Vietnam's pepper exports increased in the first 6 months of the year was due to the scarcity of pepper supply in the world market. Currently, Vietnam ended its harvest in March, while the harvest of Brazil - the world's second largest pepper exporter - just started in August.


In addition, pepper prices increased because demand on the world market remained high, while supply was limited.

With high growth momentum in the first 6 months of the year, plus export prices continuing to be high, VPSA forecasts that Vietnam pepper exports this year will reach over 1 billion USD, thereby bringing pepper back to normal. billion-dollar industry group for the first time since 2017.

This is a positive signal for Vietnam's pepper industry, affirming Vietnam's position as the world's leading pepper exporter.

Nguyen Thanh

July 22, 2024 10:54
Follow https://khte.congthuong.vn/ above

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Pepper market on July 22, 2024

 

Pepper market on July 22, 2024: Increased again to 149,000 VND/kg

Posted onJuly 22, 2024by VPA

22
Jul

Updated pepper price today July 22, 2024 average at 149,000-150,000 VND/kg.

Currently, pepper prices are in a "shaking" state, sometimes up, sometimes down, but in general the trend will continue to increase. According to Mr. Hoang Phuoc Binh - Vice Chairman of Chu Se Pepper Association (Gia Lai), not only this year, pepper prices will continue to be high for many years to come, because each price increase cycle usually lasts for a long time. about 10 years.

World pepper prices  today

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,191 USD/ton, down 0.25%; Brazilian black pepper price ASTA 570 is at 7,125 USD/ton; Kuching (Malaysia) ASTA black pepper price is 7,500 USD/ton.

Muntok white pepper price was 9,157 USD/ton, down 0.24%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam black pepper prices simultaneously kept their prices at a high mark, trading at 6,000 USD/ton for 500 g/l type; type 550 g/l at 6,600 USD/ton; White pepper price is at 8,800 USD/ton. According to the International Pepper Association (IPC), pepper prices in Brazil and Vietnam remain unchanged. Indonesian black pepper price decreased compared to yesterday.

By the end of 2023, the pepper area in Dak Nong province will reach 33,789 hectares, output will reach 70,685 tons, an increase of 28,458 tons compared to 2018. Currently, Dak Nong ranks first in the Central Highlands region and the whole country in terms of pepper planting area. pepper, output ranks second in the country (after Dak Lak province).

Dak Nong will maintain a pepper growing area of ​​about 34 thousand hectares by 2025, with an output of about 52 thousand tons, and by 2030 the area will reach about 33.6 thousand hectares and an output of about 60 thousand tons; Form and develop 4 pepper production areas applying high technology, concentrated production areas with an area of ​​3,049 hectares in key pepper production areas of the province.

Although pepper prices are high, localities and even people are currently very cautious in expanding pepper growing areas. The reason is partly because the value of pepper is no longer as high as other crops. Pepper has long been no longer considered "black gold".

In the Southeast, Dong Nai is one of the largest pepper growing provinces with about 11,000 hectares. In 2018, the pepper area of ​​Dong Nai province reached 19,000 hectares. Many years of low pepper prices caused this province to lose 8,000 hectares of pepper cultivation to switch to higher value crops. This year, although the price doubled, people are still cautious about expanding the area.

The general direction of the industry is to produce clean pepper in a sustainable manner, apply high technology, and improve product quality.

Brazil's pepper exports reached a record high of 92,065 tons in 2021, but then decreased to 86,359 tons in 2022 and 80,725 tons in 2023.

Reduced output from Brazil and Vietnam, the world's two leading pepper producing countries, has pushed world pepper prices to continuously increase in recent times.

Some experts believe that signs of supply shortage compared to demand will continue to be recognized and reflected by the market in the coming time until the end of the season.

Meanwhile, rapidly rising freight costs and port congestion in Asia are also impacting prices in import markets, and can cause shipping delays. This causes prices to increase in the medium and long term.

*Information is for reference only. Prices may change depending on time and location.

According to Industry and Trade Newspaper

Pepper market on July 19, 2024 - World pepper prices

 

Pepper market on July 19, 2024: Domestically moving sideways

Posted onJuly 19, 2024by VPA

19
Jul

Pepper prices today, July 19, 2024, all stood still. Currently, domestic pepper prices are trading around 147,000 - 148,000 VND/kg.

World pepper prices  today July 19

Around the world, the pepper market on July 19 turned down in Indonesia.

Accordingly, the price of Lampung black pepper in Indonesia decreased by 0.19%; about 7,209 USD/ton. The price of Muntok white pepper in this country also decreased slightly by 0.19%; at 9,179 USD/ton.

Malaysia's Kuching ASTA black pepper price is anchored at 7,500 USD/ton; This country's ASTA white pepper costs 8,800 USD/ton.

For the Brazilian market, the price of ASTA 570 black pepper remains at 7,125 USD/ton.

In Vietnam, the export price of 500 g/l black pepper is trading at 6,000 USD/ton; and the 550 g/l type is at 6,600 USD/ton. The export price of white pepper remains at 8,800 USD/ton.

Pepper type	Price (Unit: USD/ton)	Change
Lampung black pepper (Indonesia)	7,209	-0.19%
Muntok white pepper	9,179	-0.19%
Brazilian black pepper ASTA 570	7.125	–
Kuching black pepper (Malaysia) ASTA	7,500	–
ASTA Malaysian white pepper	8,800	–
Black pepper type 500 g/l Vietnam	6,000	–
Black pepper type 550 g/l Vietnam	6,600	–
Vietnamese white pepper	8,800	–

World pepper prices today  decreased slightly in Indonesia but remained stable in other countries.

Thus, world pepper prices on July 19, 2024 decreased slightly in Indonesia compared to yesterday.

Pepper prices today  July 19 in the country

Domestically, the pepper market on July 19 had no new fluctuations compared to yesterday.

Specifically, Dak Lak still purchases pepper at the price of 148,000 VND/kg;

Dak Nong pepper price today continues to be at 148,000 VND/kg;

Gia Lai pepper price today is anchored at 147,000 VND/kg;

Dong Nai traders trade pepper for 147,000 VND/kg;

Ba Ria - Vung Tau pepper price today remains at 148,000 VND/kg;

Binh Phuoc traders are still trading pepper at 148,000 VND/kg.

Province	Price	Up and down
Dak Lak	148,000	–
Dak Nong	148,000	–
Gia Lai	147,000	–
Dong Nai	147,000	–
BA Ria Vung Tau	148,000	–
Binh Phuoc	148,000	–

Latest domestic pepper price list dated July 19, 2024. Unit: VND/kg

Domestic pepper prices   today  simultaneously moved sideways with the highest threshold being 149,000 VND/kg.

Vietnam's pepper exports witnessed impressive growth in turnover in the first half of this year. According to VSPA, by the end of June 2024, Vietnam had exported nearly 143 thousand tons of pepper of all kinds, of which black pepper reached 126 thousand tons and white pepper reached nearly 17 thousand tons.

Compared to the same period last year, the amount of pepper exported in the past 6 months decreased by 6.8%, however, thanks to high export prices, export turnover increased by 30.5% and reached 634 million USD (black pepper reached 540 million USD, white pepper reached 94 million USD).

In the first 6 months of the year, the average price of exported black pepper reached 4,365 USD/ton, white pepper reached 5,983 USD/ton, an increase of 922 USD/ton for black pepper and 1,028 USD/ton for white pepper respectively compared to May 6, 2023.

Currently, pepper prices are in a "shaking" state, sometimes up, sometimes down, but in general the trend will continue to increase. Mr. Binh said, the main reason is that the supply of pepper in Vietnam is currently exhausted because the output of the 2023 - 2024 crop has decreased significantly compared to the previous crop.

According to Mr. Hoang Phuoc Binh - Vice Chairman of Chu Se Pepper Association (Gia Lai), not only this year, pepper prices will continue to be high for many years to come, because each price increase cycle usually lasts for a long time. about 10 years.

First of all, although pepper prices are high, the ability to recover pepper area and output is not great. Because current pepper farmers have absorbed the lessons from the previous price increase cycle.

Thus, the domestic pepper price on July 19, 2024 is trading around 147,000 - 149,000 VND/kg.

According to Nongnghiep.vn

Pepper market on July 18, 2024

 

Pepper market on July 18, 2024: worried about the pepper import and export situation in early July 2024

Posted onJuly 18, 2024by VPA

18
Jul

Pepper price today July 18 is in the range of 147,000 - 148,000 VND/kg.

The Vietnam Pepper and Spice Association has just announced that in the first 15 days of July 2024, Vietnam exported 9,993 tons of pepper, total export turnover reached 56.5 million USD.

Main export enterprises include: Olam Vietnam: 1,272 tons, Phuc Sinh: 1,224 tons; Simexco Dak Lak: 839 tons, Nedspice Vietnam: 796 tons and Pearl: 649 tons.

Previously, in the first 16 days of June 2024, Vietnam exported 16,211 tons of pepper. Thus, exports in the first half of July 2024 decreased sharply.

In the opposite direction, Vietnam imported 746 tons, total import turnover reached 4.5 million USD. Olam and KSS Vietnam are the two main importers, reaching 232 tons, accounting for 31.1%, and 75 tons, accounting for 10.1%, respectively. The main pepper importers are Indonesia: 438 tons, accounting for 58.7% and Cambodia: 229 tons, accounting for 30.7%.

In the first 16 days of June 2024, Vietnam imported 1,357 tons. Compared to the same period last month, the import volume also halved.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,223 USD/ton, an increase of 0.46%; Brazilian black pepper price ASTA 570 is at 7,125 USD/ton; Kuching (Malaysia) ASTA black pepper price is 7,500 USD/ton.

Muntok white pepper price was 9,196 USD/ton, up 0.46%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

The price of Vietnamese black pepper is trading at 6,000 USD/ton for 500 g/l type; type 550 g/l at 6,600 USD/ton; White pepper price is at 8,800 USD/ton. IPC slightly increased pepper prices in Indonesia after a series of previous declines.

According to KTĐT.vn

Pepper market on July 15, 2024

 

Pepper market on July 15, 2024: Pepper price stands at 150,000-151,000 VND/kg

Posted onJuly 15, 2024by VPA

15
Jul

Pepper price today July 15 is in the range of 150,000 - 151,000 VND/kg. Last week, the rapid increase in domestic coffee has absorbed all the capital from pepper. Currently, goods are coming to the market in small drops. There are no businesses buying thousands of tons of pepper right now, making demand in the market "fragile".

Pepper prices at the beginning of this morning remained stable compared to the same time yesterday. Summary: Last week, pepper prices decreased slightly in Dak Lak, increased in Ba Ria - Vung Tau, while remaining unchanged in the remaining localities.

Last week, the rapid increase in domestic coffee has absorbed all the capital from pepper. Currently, goods are coming to the market "in a trickle". There are no businesses buying thousands of tons of pepper right now, making demand in the market "fragile".

In addition to supply and demand issues, shipping congestion continues to affect exports in general and pepper in particular.

Container ship rates have skyrocketed due to delays and rerouting. According to statistics from the Financial Times, freight rates have increased fivefold in the past year and it is only a matter of time before consumers have to bear some of the increased costs.

Container port congestion in Singapore, one of Asia's largest ports, is spreading to Malaysia. Singapore's container port is currently the world's largest container transshipment hub, connecting more than 600 ports from 123 countries and with an annual capacity of about 50 million TEUs. Analysts expect congestion at shipping terminals could last until August.

Increased freight prices are embedded in the cost of goods, this is also a factor pushing pepper prices to continue to increase in the coming time. However, reporting on industrial and commercial production for the first 6 months of 2024, the Ministry of Industry and Trade stated that, according to the cycle, demand for goods will increase in both the domestic and world markets at the end of the year.

Vietnam is benefiting from a wave of orders shifting from the US and has many advantages in boosting exports to China. Pepper is also one of the export products affected as above. This year's export turnover of billions of dollars is wide open to completion with the current high pepper export price.

According to the Vietnam Pepper and Spice Association, the average export price of black pepper in 6 months reached 4,365 USD/ton, white pepper reached 5,983 USD/ton, an increase of 922 USD for black pepper and 1,028 USD for pepper, respectively. white compared to the same period in the first 6 months of 2023.

Commenting on the market this week, experts say that there has not been a driving force to push prices up. However, domestic pepper prices have formed a new price range and are difficult to reduce further. Pepper prices fluctuate around 150,000 VND/kg. If this week's coffee adjusts down after the past 2 hot weeks, capital flows will flow back to pepper, expected to bring the price to 155,000 VND/kg.

Pepper market July 10th 2024 - Prices Increased sharply

 

Pepper prices increased sharply, export turnover increased by 30.5% in the first half of the year

Posted onJuly 10, 2024by VPA

10
Jul

In the first 6 months of 2024, exports to the US increased by 44.6% to 37,435 tons, accounting for 26.3% of the market share. Next are the markets of Germany, India, China,...

According to statistics from the Vietnam Pepper and Spice Association (VPSA), in the first 6 months of 2024, by the end of June 2024, Vietnam has  exported   142,586 tons of pepper of all kinds, down 6.8%. in volume but increased by 30.5% in turnover.

Of which, the amount of black pepper exported reached 125,959 tons, white pepper reached 16,627 tons. Total export turnover reached 634.2 million USD, black pepper reached 539.9 million USD, white pepper reached 94.3 million USD.

In the first 6 months of 2024, the US is Vietnam's largest pepper export market with a volume of 37,435 tons, an increase of 44.6% over the same period last year, accounting for 26.3% of the market share. Next are markets such as Germany with 9,526 tons, an increase of 106.7%; UAE: 8,388 tons, up 15.2%; India: 8,173 tons, up 45.7%, China: 7,453 tons, down 85.2% and Netherlands: 6,019 tons, up 52.1%.

Top white pepper export markets: Germany: 2,454 tons, US: 2,044 tons, Netherlands: 1,779 tons, Thailand: 1,732 tons and China: 1,567 tons...

Along with that, Vietnam  imported   18,002 tons of pepper of all kinds, of which black pepper reached 16,357 tons, white pepper reached 1,645 tons, total import turnover reached 69.6 million USD, an increase of 18.9% over the same period. period last year. The three main pepper supply countries to Vietnam include: Brazil reaching 7,241 tons, down 22.3%; Cambodia reached 6,212 tons, an increase of 34.5%; Indonesia reached 2,991 tons, an increase of 67.3%.

The continuous increase in pepper prices   is the reason why although export value has increased, quantity has decreased. Currently, the average export price of Vietnamese pepper has increased by 1,000 USD/ton compared to the same period in 2023. Specifically Specifically, the price of black pepper reached more than 4,300 USD/ton, white pepper reached nearly 6,000 USD/ton.

The main reason for the sharp increase in pepper prices is that global pepper output has decreased significantly due to the El Nino phenomenon and the decline in planted area, and the amount of inventory from last year transferred to this year in Vietnam (the largest pepper exporting country). world today) is almost negligible while demand in major markets such as Europe, America and China has increased sharply.

“This is pushing pepper into a new price increase cycle. This cycle will last for the next 10 years and the price can reach 350,000 - 400,000 VND/kg," Mr. Hoang Phuoc Binh, Standing Vice Chairman of Chu Se Pepper Association (Gia Lai) shared with  VnEconomy.

According to VPSA's assessment, Vietnam's pepper output in 2024 is estimated to decrease by 10% compared to 2023, to only about 170,000 tons. This is the lowest level in the past 5 years.

In Brazil, one of the major pepper exporting countries, the 2024 pepper crop here will be severely affected by prolonged drought. Brazil's pepper output is expected to be the lowest in many years, down 20-40% compared to the previous year. If experts' predictions about Brazil are correct, the pepper market can only become vibrant again from September onwards.

Sharing with VTV Online, a representative of the Import-Export Department (Ministry of Industry and Trade) predicted that the increase in domestic pepper prices will push up export pepper prices and the pepper industry can be expected to earn billions of USD in exports this year. now.

Not only that, in the world market it is also forecast that pepper prices will continue to increase but the growth rate will slow down. In the domestic market, black pepper prices have increased sharply due to limited supply, but people should not massively expand planting areas but focus on investing and taking care of intensive farming so that pepper plants can develop sustainably. and stable.

As for domestic businesses, VPSA recommends that export businesses be careful in purchasing and exporting activities to avoid risks similar to the  recent coffee or  rice  prices.

According to VietnamBiz.vn

Vietnam exported 142 k pepper in the first 6 month of 2024

 

 

 

By the end of June 2024, Vietnam had exported 142,586 tons of pepper of all kinds, of which black pepper reached 125,959 tons and white pepper reached 16,627 tons.
Total export turnover reached 634.2 million USD, black pepper reached 539.9 million USD, white pepper reached 94.3 million USD.

Compared to the same period last year, export volume decreased by 6.8%, but export turnover increased by 30.5%.
The average export price of black pepper in 6 months reached 4,365 USD/ton, white pepper reached 5,983 USD/ton, an increase of 922 USD for black pepper and 1,028 USD for white pepper compared to the same period in the same 6 months of 2023.

Main destination of Vietnam Black pepper exports in the first 6 months of 2024

US: 37,435 tons, increased by 44.6% to
Germany: 9,526 tons, an increase of 106.7%;
UAE: 8,388 tons, up 15.2%;
India: 8,173 tons, up 45.7%,
China: 7,453 tons, down 85.2% and
Netherlands: 6,019 tons, up 52.1%.

Top white pepper export markets:

Germany: 2,454 tons,
US: 2,044 tons,
Netherlands: 1,779 tons,
Thailand: 1,732 tons 
China: 1,567 tons

Pepper market on July 9, 2024

 

Pepper market on July 9, 2024: increased simultaneously, exports increased by 1,000 USD since the beginning of the year

Posted onJuly 9, 2024by VPA

09
Jul

Pepper price today July 9 is in the range of 153,000 - 154,000 VND/kg.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,162 USD/ton, an increase of 0.28%; Brazilian black pepper price ASTA 570 was at 7,175 USD/ton, down 1.05%; Kuching (Malaysia) ASTA black pepper price is 7,500 USD/ton.

Muntok white pepper price was 9,119 USD/ton, up 0.29%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam black pepper price is trading at 6,000 USD/ton for 500 g/l type; type 550 g/l at 6,600 USD/ton; White pepper price is at 8,800 USD/ton. IPC continued to slightly increase pepper prices in Indonesia, decreasing in Brazil.

Ptexim's latest weekly report said that many experts in Brazil assess that the 2024 crop in this country will be severely affected by prolonged drought. Brazilian production is expected to be the lowest in many years, with the 2024 crop year down 20-40% compared to 2023.

If experts' forecasts about Brazil are correct, expect the pepper market to be more vibrant from September onwards.

Meanwhile, by the end of June 2024, Vietnam had exported 142,586 tons of pepper of all kinds, of which black pepper reached 125,959 tons and white pepper reached 16,627 tons. Total export turnover reached 634.2 million USD, black pepper reached 539.9 million USD, white pepper reached 94.3 million USD.

Compared to the same period last year, export volume decreased by 6.8%, but export turnover increased by 30.5%. The average export price of black pepper in 6 months reached 4,365 USD/ton, white pepper reached 5,983 USD/ton, an increase of 922 USD for black pepper and 1,028 USD for white pepper compared to the same period in the same 6 months of 2023.

In the first 6 months of 2024, exports to the US increased by 44.6% to 37,435 tons, accounting for 26.3% of the market share. Next is the German market: 9,526 tons, an increase of 106.7%; UAE: 8,388 tons, up 15.2%; India: 8,173 tons, up 45.7%, China: 7,453 tons, down 85.2% and Netherlands: 6,019 tons, up 52.1%. Top white pepper export markets: Germany: 2,454 tons, US: 2,044 tons, Netherlands: 1,779 tons, Thailand: 1,732 tons and China: 1,567 tons...

According to KTĐT.vn

Pepper market update 8th July 2024 – Week 27 – Monthly report.

 

Vietnam

•        Last week, the price of pepper was rapid fluctuations, with prices fluctuating by $100-200 within a day. However, after the decrease, the price of pepper quickly recovered within a few hours. By the end of the week, the price of pepper decreased from 160,000 VND to 159,000 VND, equivalent to 0,6% down.

•        Demand has been relatively slow in the entire market as many countries have started holidays.

Brazil

•        There have been clearer information in the second largest pepper supplier in the world, Brazil. Many experts in Brazil assess that the 2024 season is severely affected by prolonged drought. Brazil’s production is expected to be the lowest in many years, with a decrease in the harvest of the 2024 season by 20-40% compared to 2023.

•        If the forecasts of experts regarding Brazil are accurate, we can expect the pepper market to become more active from September onwards.

 

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

 

https://drive.google.com/file/d/13CjGCpDlG2Rz0E1exlWfGHGr_64LSTNG/view?usp=sharing