Pepper market February 24, 2024: Domestic pepper prices turned around after 4 days of strong increase

 

Pepper price today February 24 is in the range of 92,500 - 95,500 VND/kg. After 4 days of strong increases, the market corrected slightly. This week, pepper prices decreased in India and remained stable in Indonesia while the domestic market in Vietnam increased sharply.

In Dak Lak and Dak Nong provinces,  today's pepper price is purchased at 92,000 VND/kg.

In Gia Lai province, today's pepper price is 91,000 VND/kg.

Meanwhile in Dong Nai, today's pepper price is at 91,500 VND/kg, down 3,500 VND/kg.

In Ba Ria - Vung Tau province, pepper price today is at 91,000 VND/kg, down 3,000 VND/kg.

In Binh Phuoc province, today's pepper price was purchased at 91,500 VND/kg, down 3,500 VND/kg.

Pepper prices today decreased by 2,500 - 3,500 VND/kg in localities in the Southeast region, remaining unchanged in the remaining provinces compared to the same time yesterday. After 4 days of strong increases, the market corrected slightly.

This week, many local press agencies have begun to report on the new pepper crop. Most of them show the excitement of farmers when pepper prices increase, but they also show a decline in output, favorable harvesting staff, and more speculative psychology than last year.

Pepper prices in the domestic market increased due to limited supply, while businesses still had a need to buy to ensure export progress.

According to statistics from the Department of Crop Production and Plant Protection of Ba Ria-Vung Tau province, up to now, Ba Ria-Vung Tau province is cultivating more than 10,400 hectares of pepper, down more than 280 hectares compared to the beginning of 2023.

According to the Department of Agriculture and Rural Development of Gia Lai province, by the end of 2023, the whole province will have 8,798 hectares of pepper, with an output of about 28,580 tons. Data from the Ministry of Agriculture and Rural Development shows that the pepper growing area in Vietnam in 2023 will reach 115 thousand hectares, down 5,000 hectares compared to 2022. Output in 2023 will reach 190 thousand tons, an increase of 3.8% compared to 2022.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 3,922 USD/ton, an increase of 0.25%; Brazilian black pepper price ASTA 570 is at 4,350 USD/ton; Kuching (Malaysia) ASTA black pepper price remained at 4,900 USD/ton.

Muntok white pepper price was 6,184 USD/ton, up 0.26%; Malaysian ASTA white pepper price is still at 7,300 USD/ton.

Vietnam black pepper price is trading at 3,900 USD/ton with 500 g/l type, 550 g/l type at 4,000 USD/ton; White pepper price is at 5,700 USD/ton.

IPC assesses that this week's pepper market continues to have mixed reactions. Domestic and international Indian pepper prices continue to be reported with a downward trend since last week. Both domestic and international Indonesian pepper prices were stable this week due to few transactions in the market. Meanwhile, Vietnam's domestic pepper prices increased well.

According to KTĐT.vn

Pepper market on February 16, 2024: Continues to increase in some key provinces

Domestic pepper prices

According to the survey,  pepper prices  in the domestic market fluctuated between 81,500 - 85,000 VND/kg after being adjusted to increase in some localities.

Records show that Dong Nai province has the lowest price of 81,500 VND/kg and Gia Lai province has a slightly higher price of 82,000 VND/kg.

Next is Ba Ria - Vung Tau province with a price of 84,000 VND/kg.

In Dak Lak and Dak Nong provinces, pepper is purchased at a general price of 84,500 VND/kg - an increase of 500 VND/kg.

Similarly,  today's pepper price  in Binh Phuoc province also increased by 500 VND/kg to 85,000 VND/kg.

World pepper prices

According to an update from the International Pepper Association (IPC) on February 15 (local time), the price of Lampung black pepper (Indonesia)  decreased by 0.13%  compared to February 14.

At the same time, prices of Brazilian black pepper ASTA 570 and Kuching (Malaysia) ASTA black pepper remained stable.

According to  peppertrade , the Vietnamese market in the week of June 2024 is considered quiet when most people are busy preparing for the Tet holiday.

At the same time, Muntok pepper prices remained firm due to reduced production and limited raw material supply with strong domestic consumption offsetting weak overseas demand, the market is now tilted towards Brazil.

However, news of crop failure and local currency fluctuations have caused raw material prices to skyrocket from 16 reals/kg previously to 17 reals/kg currently, so although demand is high, supply is very limited. limit.

Overall, most traders are still choosing to wait after Tet in anticipation that Vietnam's incoming crop could bring some relief.

However, when the push comes and the peak does not create enough selling pressure, the current price trend can escalate significantly from current levels.

According to VietnamBiz.vn

Vietnam - Pepper market January 27, 2024: Southeast region increases, US market buys strongly again

Pepper price today January 27 is in the range of 79,500 - 82,500 VND/kg. After 2 days of decline, the domestic pepper market increased slightly again. Pepper prices will increase from the end of 2023 because there is not much inventory left, and the US market suddenly has strong consumption in the last 3 months of 2023.

In Dak Lak and Dak Nong provinces, today's pepper price was purchased at 82,500 VND/kg.

In Gia Lai province, today's pepper price is 80,000 VND/kg.

Meanwhile in Dong Nai, pepper price today is at 79,500 VND/kg, an increase of 500 VND/kg.

In Ba Ria - Vung Tau province, pepper price today is at 81,500 VND/kg, an increase of 1,000 VND/kg.

In Binh Phuoc province, today's pepper price was purchased at 82,000 VND/kg, an increase of 500 VND/kg.

Pepper prices today increased by 500 - 1,000 VND/kg in the Southeast, remaining stable in the remaining localities compared to the same time yesterday. After 2 days of decline, the domestic pepper market increased slightly again.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 3,863 USD/ton, down 0.39%; Brazilian black pepper price ASTA 570 is at 3,850 USD/ton; Kuching (Malaysia) ASTA black pepper price remained at 4,900 USD/ton.

Muntok white pepper price was 6,091 USD/ton, down 0.39%; Malaysian ASTA white pepper price is still at 7,300 USD/ton.

Vietnam black pepper price is trading at 3,900 USD/ton with 500 g/l type, 550 g/l type at 4,000 USD/ton; White pepper price is at 5,700 USD/ton.

IPC said that both domestic and international Indian and Indonesian pepper prices tend to decrease this week.

IPC forecasts that global pepper production in 2024 will continue to decrease by 1.1%, equivalent to 6,000 tons. Brazil and India are forecast to increase production this year, while decreasing in Vietnam. Other producing countries can maintain pepper output with negligible changes.

According to the Ministry of Agriculture and Rural Development, Vietnam's pepper area in 2023 will reach 115 thousand hectares, down 5 thousand hectares compared to 2022. Vietnam pepper output in 2023 according to the assessment of the Pepper and Plant Association Vietnam position reaches 190 thousand tons, an increase of 3.8% compared to 2022.

The 2024 pepper harvest has also begun in some districts of Dak Nong province, however the harvest is mainly scattered in some districts and not much. Due to the effects of climate change, this year's harvest is later than last year. Vietnam's pepper output in 2024 is expected to reach 170 thousand tons, down 10.5% compared to 2023.

The Vietnam Pepper and Spice Association in its latest report stated that the average domestic price in early 2023 reached 57,000 VND/kg and stood at the lowest level since March 2021. The price increased at the end of the first quarter and did not change much until November 2023. Entering December, the price continuously increased, sometimes reaching 86,000 VND/kg, causing the average price for the whole month to reach 81,000 VND/kg, an increase 42% compared to the beginning of the year.

The reason for the increase in prices at the end of the year is that there is not much inventory left. The US market suddenly had strong consumption in the last 3 months of the year, especially December 2023 when the import volume reached over 6,200 tons (the highest import month). These may be orders delivered by businesses before the end of the year, so purchases are required.

According to KTĐT.vn

Vietnam Pepper market update 4th Sept 2023 – Week 35.

Over the past week, black pepper prices have slightly increased by about  1,5% from 73,000 - 74,000.

The largest market, China, has resumed purchasing along with demand from Europe/USA for Q4 deliveries.

The average export price of Vietnamese pepper in August increased for the third consecutive month and reached the highest level in the past 10 months reaching U$ 3,748 an increase of 5% compared to the month of July.

According to the latest data from the *General Statistics Office*, Vietnam-s pepper exports in August reached 16,009 tons, an increase of 4,9% compared to July, but a decrease of 13,4% compared to the same period last year.

Export turnover in August reached 60.01 million U$D, a 5.4% increase compared to July, but a 20.2% decrease compared to the same period last year.

In the first 8 month of 2023, Vietnam´s pepper exports reached 183,919 tons.,a 14.5% increase compared to the same period in 2022

Price indication for the week 35

Vietnam pepper market update 28th August 2023 – Week 34

  

August 28, 2023
Likely that Vietnam's pepper exports in the first 8 months of the year will reach around 183-185,000 tons. If the forecasted annual pepper production for 2023 is around 190-200,000 tons, it is certain that the inventory from previous years will be used for exports until the next harvest in 2024, which is still 5-6 months away.

It is predicted that this situation will lead to a less pepper raw material trading in the market in the fourth quarter, as the inventory from previous years is still held by farmers, traders, and export companies with a strong financial foundation and relatively high prices.

 

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

 

https://drive.google.com/file/d/1Fw1NvO3DkoV2i_JwHFhPaXJOi9iEkLDX/view?usp=sharing

 

Black pepper prices spike, likely to rise further

 

As demand outstrips supply and imports become expensive, black pepper prices have risen, prompting growers to resort to hoarding in anticipation of bigger profits. That in turn is increasing prices even more.

 PK KRISHNAKUMAR AUGUST 11, 2023 

Shrinking stock in the North Indian markets, drying up of illegal imports, hoarding and anticipated shortage in the next season due to the El Nino impact, have all pushed up black pepper prices in the country past Rs 600 per kg after a gap of several years.

The current year has seen the prices of several spices such as chilli, cumin, ginger and turmeric rally. Black pepper is the addition to the list. Black pepper prices have remained between Rs 400 and 500 per kg for some years now. Last year it spiked to over Rs 500 per kg before falling. This week, the price has climbed to Rs 625 per kg.
Pepper output in India this year, at about 64,000 tonnes, is said to be normal. The production in India has remained stagnant in the last few years but consumption has been rising annually and is much above the production level. Karnataka, followed by Kerala are the major pepper producing states. But the crop in Kerala, particularly in Idukki district, has come down with many farmers shifting to cardamom, which is more remunerative.

Higher consumption, to a certain extent, is met through imports, much of it illegal. Pepper import for use in the local market carries heavy duties ranging from 50 to 70 percent and a minimum import price of Rs 500 per kg from different countries such as Vietnam, Brazil and Sri Lanka, where the spice is cheaper. Pepper from these countries reaches India illegally by road from Myanmar or Nepal or through misdeclaration as other goods to evade duties during shipment.

``Strict monitoring by the Centre has checked illegal imports into the country. As a result, the stock in the North Indian market has diminished. This has led to an increase in the prices,’’ said Jojan Malayil, owner of Aromatics Products.
As prices started to rise a few weeks ago, growers began to hold on to the stock, pushing the rates up further. The festival season demand after September is expected to spur the prices again in the coming months. Industry expects the prices to reach Rs 650 per kg or more.
``The rally is partly driven by sentiment as the other spices have become dearer. Pepper prices had been flat for the past several years. With low supply, it has become a seller’s market. Also, there are concerns on the impact of EL Nino on the next (year's) production. We can get a correct assessment only by October-November,’’ said Gulshan John, MD of Nedspice India.

The pepper prices in Vietnam, the largest producer, and Brazil, the next biggest grower, are around Rs 300 per kg. Since the import is duty-free against export, Indian pepper exporters have been depending on the pepper from other origins for value addition and shipment. But still the Indian consignments are comparatively high priced in the global market, causing the pepper exports to remain low in the last few years.

Indian pepper exports dropped 18 percent year-on-year in FY23 to 17,958 tonnes. Exports touched 21,863 tonnes in FY22, helped by cheaper Vietnam pepper. But a rise in the prices of Vietnam pepper since, have curbed imports to India for export.

``This year too, Vietnamese farmers are holding back produce, though their production is higher. Even the Brazilian crop is good. But there is no aggressive selling. Maybe they are anticipating an increase in prices since the excess stock purchased during the corona pandemic years by consuming countries is almost exhausted,’’ said Cherian Xavier, MD of Plant Lipids, a major spice oleoresin exporter.
As per the research reports of Nedspice, the Netherlands-based spice processing and distribution company, global pepper production in 2023 at 5,20,000 tonnes will be lower by 10,000 tonnes than the total demand. Stocks at destinations and origin will still be sufficient to meet near-term demand, though increased interest rates are not favourable to speculators and those holding large stocks, the report said.

It pegs Vietnam production at 2,05,000 tonnes, 9 percent higher than the previous year. Brazil’s production is estimated at 1,12,000 tonnes, 5.4 percent higher from a year before. India’s production and Indonesian production at 64,000 tonnes and 42,000 tonnes respectively will be slightly lower than the previous year.
According to the report, the current market situation is uncertain although the long-term price trend is likely to be up because of decreasing global production.

PK KRISHNAKUMAR is a journalist based in Kochi.

https://www.moneycontrol.com/news/business/economy/black-pepper-prices-spike-likely-to-rise-further-11160931.html 

IPC MARKET REPORT 33/23, 07 - 11 August 2023

 

KEY HIGHLIGHTS

August 11th 2023

The pepper market this week showed a mix response with only Malaysian local white pepper price reported with a decrease.

The Indian pepper price continued to be reported with an increasing trend since mid-July. The increase could be contributed to the upcoming festival season in India which resulted in an increased demand for black pepper.

Both local and international prices for Indonesia reported with an increasing trend this week as some areas in Lampung reported to start harvesting.

Only Malaysian local white pepper reported with a decreasing trend this week. Whilst, the others reported stable and unchanged.

The local price for Sri Lankan pepper continued to be reported with an increasing trend for the last four (4) weeks.

The Vietnamese local price continued to be reported with an increasing trend since last week. Whilst, the Vietnamese international price remained stable and unchanged as the market was quiet. 

Vietnam Pepper market update 24th April 2023 – Week 16.

April 24, 2023

- Last week, pepper price increased from 66,500 - 68,500 VND, equivalent to an increase of 3%.

- Demand has returned from the main market, China, besides the US and Europe.

Pepper prices lost week had an impressive increase when China continued to increase purchases  , in addition  to demand  from the US and EU markets.
Besides, exporters also actively buy   raw   materials  to  replenish inventories . Therefore, last week, the amount of raw materials offered on the market was quite small as farmers and agents expect pepper prices to increase in the near future.

According to the preliminary data report  of  the Customs, exports in the  first  17  days  of  April  2023 reached 14,464 tons of pepper, with a turnover of 43.91 million  USD,  bringing  the  export  of  the  first  3.5  months of the year to reached 89,795 tons, up 39.27% in volume and 8.59% in value over the same period last year. The average export price of pepper in the period reached  3,048 USD/ton,  up  2.35%  compared  to  the  average export price of Ma rch  2023.  Thus,  it  is  likeIy  that  April will export 25-30,000 tons, bringing the  total  export volume in 4 months to 102-107,000 tons. (In the first 4 months of 2022, only 79,410 tons were exported).

According to the update from the International Pepper Association (IPC), world pepper prices are as follows:

INDIA
Pepper prices in India have fallen slightly in the past week.

SRI LANKA
Pepper prices remained stable.

INDONESIA
• The price of Lampung black pepper in Indonesia is almost unchanged.
• Price of Muntok white pepper at 6,002 USD/ton.

BRAZIL
Pepper prices last week tended to increase. Very few raw material ore offered for sale in the market as farmers and dealers focus their resources on the coffee crop.

MALAYSIA
Malaysia's Kuching ASTA black pepper price remained stable at $4,900/ton; while white pepper is still at $7,300/ton.

#2023 pepper crop,#black pepper #pepper price,#April pepper price,#vietnam pepper price

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INDICATIVE FOB PRICES FOR THE WEEK APRIL 24,  2023

PINHEAD

PINHEAD 1MM  SUPERCLEANED $1.003

PINHEAD1.5MM -2MM  CLEANED $1.227

PINHEAD 2MM -2.5MM CLEANED $1.446

PINHEAD  SUPERIOR   QUALITY $1.666

WHOLE

VBP 500 G/L FAQ $3.083

VBP 550 G/L FAQ $3.322

VBP 500 G/L Double Spiral Cleaned $3.367

VBP 550 G/L Double Spiral Cleaned $3.427

VBP 570 G/L Double ASTA $3.487

STEAM STERILIZED PEPPER

Steam Sterilized Pepper 500G/L $3.583

Steam Sterilized Pepper 550G/L $3.705

Steam Sterilized Pepper 570G/L $3.766

STEAM STERILIZED PEPPER - EU COMPLIANCE

Steam Sterilized Pepper 500G/L $ 3.763 

Steam Sterilized Pepper 550G/L $ 3. 885

Steam Sterilized Pepper 570G/L $ 3,946

Steam Sterilized Pepper SMM $ 4. 024

Steam Sterilized White Pepper 630G/L $5.505

===============================

JUST A REMINDER
PINK PEPPER HARVEST START END OF MAY
BEST QUALITY PRODUCT ARE ALWAYS AT THE BEGINNING.
CALL US IN ORDER TO ASSURE YOURS !

Vietnam Pepper market update 13th March 2023 – Week 10.

- Pepper price has had an impressive increase in 2023 with an increase from 61,000vnd from January 1, 2023 to 67.000vnd until March 12, 2023, corresponding to an increase of 10% in recent times.

- The rising demand from the Chinese market after 3 years is also a major reason for the sharp increase in pepper prices in the first quarter this year

Pepper Exports in February 2023

According to preliminary statistics of VPA, in February 2023 Vietnam exported 28,161 ton, of which 25959 black pepper.

China rose to become the main destination in Feb with 8,485 tons, up 392% compared to January and accounting for 30% of export mkt share. USA came second with 3,790 tons, up 14,6%

Considering Jan to February 2023 Vietnam exported 40,814 tons, an increase of 10,138 tons or 33% compared to the same period of 2022.

PREVIOUSLY
Vietnam Spices Market Update February 2023

March 9, 2023

Vietnam harvest is currently underway, with all the provinces harvesting. Harvest is meeting expectations and is better than last year. Cambodia harvests are picking up as well. Brazilian growers are expected to start harvest in March. Prices in Vietnam increased from the pre-season lows, despite lower demand from EU & US buyers. 

After the Lunar New Year holidays, Chinese buying led to stocks holding at farmer and collector levels. This has caused prices to increase. Pepper prices in Brazil have gone up as well. About 40% of the harvested pepper in Vietnam has been traded, with an expected 70% of the crop yet to be harvested. There can be some pressure on prices as more pepper is harvested. 

UPDATE - VIETNAM PEPPER PRICES FEB 22

 

February 22, 2023|Black Pepper Offers, Vietnam Market Update

 ​

This week, China is buying slowly, people expect the price will come down a little bit but today, prices are increasing again and the market is still very firm.
Pepper from a new crop is still coming out the market slowly.
Daknong, Baria, Dong nai are going to finish harvesting, while Daklak , Gia Lai are starting harvesting from the end of Feb.
This time, not only China buys, local collectors and speculators are buying also , because they saw that this year's crop is not quite as good as expected, so they keep stock and wait for a higher price. But this time, we see that buyers from EU, US… are in waiting mode for lower prices.

Pepper price has been increasing everyday since the end of Jan, and it already increased 15 %.
This time, it is hard to advise you to buy or wait more.
Let’s buy step by step and based on your demand. We think that, price will be hard to decrease from now to the end of Feb.
Market is very firm this time.

Today price as below:

BLACK AND WHITE PEPPER:

-          500 FAQ: 3,100 usd/mt
-          500 cleaned: 3,360 usd/mt
-          550 cleaned: 3,420 usd/mt
-          570 MC: 3,500 usd/mt
-          5mm: 3,600 usd/mt
-          WP new technology: 4,880 usd/mt

-          500 steam sterilized: 3,640 usd/mt
-          550 steam sterilized: 3,720 usd/mt
-          5mm steam sterilized: 3,840 usd/mt

-          550 cleaned EU complied: 3,440 usd/mt
-          570 cleaned EU complied: 3,600 usd/mt
-          500 steam sterilized EU complied: 3,740 usd/mt
-          550 steam sterilized EU complied: 3,830 usd/mt

FOB Ho Chi Minh- Prompt shipment- subject to reconfirm 

https://brazspice.com/

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Important Report - Brazilian Pepper Contracts

Since the middle of November when the rainy season finaly  came to Brazil, bad weather and heavy rains are threatening Pepper production areas disrupting delivery routes and processes causing a big mess in the pepper industru this end of the year.
We post below an advise from one of the most reputable spices operators in Brazil warning clients and explaining the situation.
Our understanding is due the situation, the trend of Brazilan Pepper for next month is upright

                                 State of Paraná, Guaratuba - road to the port of Parangúa

Situation of roads in the State of Espírito Santo

December 5, 2022

After another weekend of heavy rain across the state of Espírito Santo and, particularly, in the pepper growing and processing regions, the situation today is of extreme concern.

In addition to the roads banned last week, now more roads, accesses and bridges are being punished by the heavy rains that devastate the region.

Today some more roads are blocked, with landslides, erosion and affected bridge structures, which makes all vehicle traffic in these regions impossible.

In view of this, we communicate to our customers that all shipments are on standby, since without road clearance, access to the ports of Espírito Santo, Bahia and Rio de Janeiro are closed.

We are in contact with all exporters, carriers and freight forwarders so that we can ship what is possible at this time, however delays will inevitably occur due to the aforementioned situation.
We are still waiting for the positioning of the road bodies and authorities so that we can estimate the time needed for the situation to normalize.

So we ask our customers to be patient and know that we are full time working on this matter and as soon as we have any news, we will inform you immediately.

Best Regards,

Cris Guerreiro