Update on the pepper market

21 May 2024

The pepper market continues to exhibit strong bullish tendencies. Our clients frequently inquire about the ongoing developments.

The latest update from Vietnam confirms a reduction in harvest, approximately 18% below last year's levels. Many farmers have shifted to coffee cultivation we even see avocado planted nowadays, and pepper plant maintenance has declined. This has significantly contributed to the price surge.
 
Farmers' financial stability is now robust, allowing them to withhold pepper stocks and tighten supply. This strategic withholding has driven prices up since February. \
 
We've experienced daytime rallies with prices jumping by $100/MT. The market remains highly volatile, with prices fluctuating daily and even within the day. Our team is fully equipped to navigate these fluctuations and keep our clients informed.
 
Looking ahead, Brazil is unlikely to bring calmness to the market due to strong concerns about expected output of their upcoming crop. Additionally, Indonesia's new crop of Muntok (white pepper) and Lampong (black pepper) in July and August will not significantly impact the market since it is less each season.
 
For the latest updates and detailed insights, ensure you're subscribed to our regular email updates. Contact your personal broker to confirm your subscription and stay ahead in this dynamic market.
 
Stay tuned for more updates as we continue to track these developments closely.

 

van der does

Vietnam - Domestic black pepper price hits all-time high

 

Domestic black pepper price hits all-time high

May 20, 2024 - 12:46

A combination of supply shortages and increased demand from the major markets helped black pepper prices soar last week.

A farmer taking care of her black pepper garden in Đắk Nông Province. — VNA/VNS Photo

HÀ NỘI — Domestic black pepper prices reached a new record at VNĐ111,000-112,000 per kilo (US$4.36-4.4) last week, surging by an additional VNĐ10,000 per kilo from the beginning of last week. 

Early last week, black pepper prices in the Vietnamese market held steady at approximately VNĐ101,000-102,000 per kilo. 

The unexpected price rises on May 15 and 16 caused a significant spike in domestic prices to VNĐ111,000 - 112,000 per kilo. Although there was a slight correction of around VNĐ1,000 per kilo, prices of black pepper remain remarkably high.

Experts attribute the surge in domestic black pepper prices to a combination of supply shortages and increased demand in major markets such as Europe, the US and China.

Black pepper prices have been steadily rising on international exchanges, with black pepper currently in the range of $4,900 - 5,200 per tonne and white pepper, between $6,500 - 7,300 per tonne, depending on the category.

Việt Nam, being one of the major black pepper producers was badly hit by adverse growing conditions, due to some unusual weather conditions and farmers shifted their focus to other crops, particularly fruit trees, as black pepper prices had previously remained low.

With the current rise in black pepper prices, the Vietnam Pepper Association (VPSA) anticipates that the export value of pepper will reach an impressive $1 billion for the year.

According to the Ministry of Agriculture and Rural Development, black pepper exports in the first four months of the year amounted to 84,000 tonnes, generating revenue of VNĐ353 million, down 18.3 per cent year-on-year in volume, but up 11.5 per cent in value.

The average export price of black pepper during the first four months of the year was estimated at $4,214 per tonne, a 36.4 per cent increase from the same period in 2023. 

The US, Germany and India emerged as the top three export markets for Vietnamese black pepper during the first quarter of 2024, collectively accounting for a market share of 41.5 per cent. — VNS

Pepper market on May 19, 2024, the market suddenly increased sharply, a new record was set

 

Pepper prices today  fluctuate between 112,000 - 113,000 VND/kg. Compared to the beginning of the week, key provinces increased by 9,000 - 10,500 VND/kg.

Update domestic pepper prices

Pepper prices  increased sharply in key provinces last week. Accordingly, pepper transaction prices increased by about 9,000 - 10,500 VND/kg in the surveyed provinces.

In detail, the highest pepper price currently recorded in Dak Nong province is 113,000 VND/kg, an increase of 10,500 VND/kg.

Traders in Dak Lak, Gia Lai, Ba Ria - Vung Tau, Binh Phuoc and Dong Nai are buying pepper at a price of 112,000 VND/kg, an increase of 9,000 - 10,000 VND/kg in the past week.

Update pepper information

Vietnam's domestic and export pepper prices are still increasing, while the pepper harvest season has ended, so the supply will increasingly decrease. Therefore, the Vietnam Pepper and Spice Association (VPSA) predicts that pepper prices will continue to increase in the near future.

Regarding exports, the Vietnam Pepper and Spice Association said that by the end of April 2024, Vietnam had exported 83,067 tons of pepper of all kinds; Of which black pepper reached 73,555 tons, white pepper reached 9,512 tons, information from  Quan Doi Nhan Dan newspaper. 

Total pepper export turnover reached 352 million USD. Compared to the same period last year, export volume decreased by 19.4%, but turnover increased by 10.3%. The average export price of black pepper in 4 months reached 4,065 USD/ton, white pepper reached 5,678 USD/ton, up 19.4% for black pepper and 14.5% for white pepper respectively over the same period. last year.

According to a representative of the Department of Trade Promotion, Ministry of Industry and Trade, in the world spice basket, pepper accounts for a large proportion and plays an important role in culinary culture. In particular, pepper products are promoted for processing in pharmaceuticals, cosmetics and health care.

According to VietnamBiz.vn

Pepper market on May 18, 2024

 

Pepper market on May 18, 2024: this week, Indian and Cambodian pepper prices go against other countries

Posted onMay 18, 2024by VPA

18
May

Pepper price today May 18 is in the range of 110,000 - 111,000 VND/kg. After 2 days of very strong increases, domestic pepper prices adjusted slightly at the end of the week. IPC said that this week's pepper market had mixed reactions, with India and Cambodia reporting decreases.

In Dak Lak province,  today's pepper price was purchased at 111,000 VND/kg.

In Dak Nong province, today's pepper price was purchased at 111,000 VND/kg.

In Gia Lai province, today's pepper price is 110,000 VND/kg.

Meanwhile in Dong Nai, today's pepper price is at 110,000 VND/kg.

In Ba Ria - Vung Tau province, pepper price today is at 111,000 VND/kg.

In Binh Phuoc province, today's pepper price is purchased at 111,000 VND/kg.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 4,934 USD/ton, down 0.2%; Brazilian black pepper price ASTA 570 is at 5,000 USD/ton; Kuching (Malaysia) ASTA black pepper price remained at 4,900 USD/ton.

Muntok white pepper price was 6,488 USD/ton, down 0.22%; Malaysian ASTA white pepper price is still at 7,300 USD/ton.

Vietnam black pepper price is trading at 4,900 USD/ton with 500 g/l type, 550 g/l type at 5,200 USD/ton; White pepper price is at 7,100 USD/ton.

IPC said that this week's pepper market had mixed reactions, with India and Cambodia reporting decreases. After increasing over the past 4 weeks, both domestic and international Indian pepper prices are on a downward trend this week.

In the latest monthly report, the Vietnam Pepper and Spice Association said that exports in the first months of 2024 have changed significantly, while Vietnam and Brazil decreased, India and Indonesia were the 2 countries have increased exports.

The reason is said to be that output in Vietnam decreased, while in Brazil it was forecast to increase at the end of the year, but the impact of climate change has made this country's output not as expected, leading to insufficient supply.

Export pepper prices in the first 3 months of 2024 fluctuated in opposite directions. Most countries recorded an increase in pepper prices, while Indian pepper prices decreased. Malaysian pepper prices are trading stably. Compared to the fourth quarter of 2023 and the first quarter of 2024, the average export price of pepper increased in Brazil and Vietnam, stabilized in Malaysia, and decreased in Indonesia and India.

In 2023, the US will import 69 thousand tons of pepper, compared to 2022, the import volume will decrease by 21.2%. 77.2% of US pepper imports come from Vietnam, followed by India (9.4%), Indonesia (5.3%) and Brazil (3.4%). In the first 2 months of 2024, the United States imported 14,102 tons, an increase of 21.4% over the same period, of which Vietnam is the largest supplier accounting for 78.8%, followed by India accounting for 7.4%, Indonesia accounts for 6.5% and Brazil accounts for 4.6%.

Pepper market on May 16, 2024

 

Pepper market on May 16, 2024: increased sharply, adding up to 6,000 VND

Posted onMay 16, 2024by VPA

16
May

Pepper price today May 16 is in the range of 105,500 - 107,000 VND/kg. Vietnam's domestic and export pepper prices are still increasing, while the pepper harvest season has ended, so the supply will increasingly decrease.

In Dak Lak province,  today's pepper price was purchased at 112,000 VND/kg, an increase of 6,000 VND/kg.

In Dak Nong province, today's pepper price was purchased at 112,500 VND/kg, an increase of 5,500 VND/kg.

In Gia Lai province, pepper price today is at 112,500 VND/kg, an increase of 5,500 VND/kg.

Meanwhile in Dong Nai, pepper price today is at 112,000 VND/kg, an increase of 6,000 VND/kg.

In Ba Ria - Vung Tau province, pepper price today is at 112,000 VND/kg, an increase of 5,000 VND/kg.

In Binh Phuoc province, today's pepper price was purchased at 112,000 VND/kg, an increase of 6,000 VND/kg.

Pepper prices at the beginning of this morning increased by 5,000 - 6,000 VND compared to the same time yesterday.

Vietnam's domestic and export pepper prices are still increasing, while the pepper harvest season has ended, so the supply will increasingly decrease.

Some pepper export businesses believe that in the long term, pepper prices will continue to increase because the area cannot recover quickly. Vietnam's pepper consumption is still maintaining stability.

From the beginning of the year until now, pepper prices have increased about 25%. The reason comes from a decrease in supply due to the impact of bad weather and people shrinking their area.

The Vietnam Pepper and Spice Association forecasts that this year's output is expected to decrease by 10% to about 170,000 tons compared to last year, the lowest level in the last 5 years.

By the end of April 2024, Vietnam had exported 83,067 tons of pepper of all kinds, of which black pepper reached 73,555 tons and white pepper reached 9,512 tons.

Total export turnover reached 352.0 million USD, black pepper reached 298.0 million USD, white pepper reached 54.0 million USD. Compared to the same period last year, export volume decreased by 19.4%, but turnover increased by 10.3%.

The average export price of black pepper in 4 months reached 4,065 USD/ton, white pepper reached 5,678 USD/ton, up 19.4% for black pepper and 14.5% for white pepper respectively over 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 4,906 USD/ton, an increase of 0.39%; Brazilian black pepper price ASTA 570 is at 5,000 USD/ton; Kuching (Malaysia) ASTA black pepper price remained at 4,900 USD/ton.

Muntok white pepper price was 6,451 USD/ton, up 0.37%; Malaysian ASTA white pepper price is still at 7,300 USD/ton.

Vietnam black pepper price is trading at 4,900 USD/ton with 500 g/l type, 550 g/l type at 5,200 USD/ton; White pepper price is at 7,100 USD/ton.

According to KTĐT.vn

Brazil Pepper Pricing Overview

 

 

 

Brazil – pricing levels already at par with Vietnam
with limited stock available at origin. Its predicted
bad crop/losses for August crop, which apparently
also expecting a delay in harvest, now prompting
exporters to also slowdown in offering due to the
rising price trend in pepper.
 

Year-Over-Year First 4 Months Brazil Export Volume

Brazil exported about 7,491 tons of Pepper in the
month of April with Morocco having been able to
import about 1,349 tons, followed by Vietnam at 869
tons, Senegal at 867 tons, UAE at 756 tons, and India
at 718 tons.

Overall, Vietnam import share have dropped by
about 12% as compared to last year same period.
Germany have increased its import share by about
56% compared to last year perhaps due to the new
implementation of steam sterilization in Brazil as
well as USA that have increased its import volume by
470% compared to the same period as last year.


RGT Pepper Market Report – May 2024
Royal Golden Trading 2024. All Rights Reserved.
Website: www.royalgoldentrading.com/ Email: Info@royalgoldentrading.com

Pepper market on May 15, 2024

 

Pepper market on May 15, 2024: Strong increase to 2,000-3,000 VND

Posted onMay 15, 2024by VPA

15
May

Pepper price today May 15, 2024 increased by 500 - 1,000 VND. Currently, domestic pepper prices are trading around 103,000 - 104,000 VND/kg.

World pepper prices  today May 15

Around the world, the pepper market on May 15 fluctuated in opposite directions.

Accordingly, the price of Lampung black pepper in Indonesia decreased slightly by 0.31%, down to 4,887 USD/ton. The country's Muntok white pepper price is anchored at 6,427 USD/ton.

Malaysia's Kuching ASTA black pepper price remained stable at 4,900 USD/ton; This country's ASTA white pepper is still priced at 7,300 USD/ton.

For the Brazilian market, the price of ASTA 570 black pepper increased sharply by 2%; up to 5,000 USD/ton.

In Vietnam, export prices of black pepper grades 500 and 550 g/l increased to 4,600 and 4,700 USD/ton, respectively. The export price of white pepper increased by 100 USD; up to 6,600 USD/ton.

Pepper type	Price (Unit: USD/ton)	Change
Lampung black pepper (Indonesia)	4,887	-0.31%
Brazilian black pepper ASTA 570	5,000	2%
Kuching black pepper (Malaysia) ASTA	4,900	–
Muntok white pepper	6,427	-0.31%
ASTA Malaysian white pepper	7,300	–
Black pepper type 500 g/l Vietnam	4,600	–
Black pepper type 550 g/l Vietnam	4,700	–
Vietnamese white pepper	6,600	–

World pepper prices today  fluctuated unevenly with a slight decrease in Indonesia but a sharp increase in Brazilian black pepper. Meanwhile, other markets remained stable.

According to IPC, Malaysian pepper output in 2023 will reach about 23,000 tons, an increase of 5% compared to the previous year. Along with the increase in output, IPC also forecasts that Malaysia's pepper exports will increase this year.

Thus, world pepper prices on May 15, 2024 increased and decreased in opposite directions compared to yesterday.

Pepper prices today  May 15 in the country

Domestically, the pepper market on May 15 increased simultaneously compared to yesterday.

Specifically, Dak Lak increased by 2,000 VND, purchasing pepper at a price of 106,000 VND/kg;

In Dak Nong, pepper price today increased slightly to 105,500 VND/kg.

Similarly, Gia Lai pepper price today increased sharply to 106,000 VND/kg;

Dong Nai traders bought pepper at a price of 105,000 VND/kg, an increase of 3,000 VND;

Similarly, the latest pepper price in Ba Ria - Vung Tau is 107,000 VND/kg;

In Binh Phuoc, traders increased 2,000 VND, trading pepper at 106,000 VND/kg.

Domestic pepper prices   today increased slightly by 500 VND in Dak Nong and increased sharply by 1,000 VND in other key regions. Thereby bringing this agricultural product to the highest price at 106,000 VND/kg.

Vietnam's pepper consumption is still maintaining stability while selling prices are still on an increasing trend. According to data from VPSA, the amount of pepper exported in April was equivalent to March and the same period last year, about 26,000 tons.

The average export pepper price is at 4,437 USD/ton - the highest level since May 2022, and also marks a series of 11 consecutive months of increases.

In a recent report, the Import-Export Department also predicted that in the remaining months of the second quarter of 2024, our country's pepper exports will grow positively thanks to increased demand from European markets. Americas.

This agency also commented that the world pepper market has shown positive signs since the beginning of 2024. In addition to increased consumption demand, maintaining high pepper prices will also have a positive impact on the industry. Vietnamese pepper.

Thus, the domestic pepper price on May 15, 2024 is trading around 106,000 - 107,000 VND/kg.

According to Nongnghiep.vn