Vietnam pepper market update 27th May 2024 – Week 21

 

- On May 27, 2023, the price of pepper was 76,000 VND. On May 27, 2024, the price of pepper was 125,000 VND. This means that the price of pepper has increased by 64% in the past year. However, the upward trend of pepper prices seems to be continuing as stocks at farmers and dealers have decreased significantly. Everyone expects pepper prices to increase sharply in the near future, similar to the coffee and cocoa prices over the past 2 years.

- It is worth noting that the current price of pepper in Vietnam is still the cheapest in the world. Other pepper-producing countries like Indonesia are expecting a late harvest in August/September and a significant loss of crop. Additionally, the Brazilian harvest has been delayed and is expected to start in August/September with a projected decrease in production of 10-20%. Therefore, it seems that the world’s demand for pepper will focus on the abundant and cheapest source, Vietnam, in June/July/August. This is also a significant challenge as Vietnam’s pepper production has been continuously declining in recent years.

 

 

Vietnam Pepper Association Fraud warning

 

 

 

According to www.complaintsboard.com , some of the following businesses show signs of fraud. We recommend that you be cautious when dealing with these businesses. For new customers making transactions for the first time, you can ask the Vietnam Trade Office in the host country to check the information of the importing enterprise.

1. Yejd Al Taam Foodstuff Trading Co Llc
2. Ardh Al Nakheel Trading LLC Sharjah
3. Regal Plus General Trading LLC
4. Royal Deluxe Foodstuff Trading LLC
5. Oral Star Foodstuff Trading CO LLC
6. Freshbazaar (No Company)
7. Dar Al Nukhba Foodstuff Trading LLC
8. Minsa Creations LLC
9. Galaxy Delight General Trading LLC Import & Export
10. Five River Foodstuff Trading LLC
11. Abid Foodstuff Supply Services CO LLC
12. Arshmaan Foodstuff Trading LLC
13. Organicaa Foodstuff Trading LLC
14. Oral Star Foodstuff Trading LLC
15. EZY Goods Wholesalers LLC
16. Green Nature Foodstuff Trading LLC
17. Green Cell Foodstuff Trading LLC
18. Green Nature Foodstuff Trading LLC
19. Sohaz Foodstuff Trading LLC
20. Bab Al Shams Foodstuff Trading LLC
21. Green Grapes Foodstuff Trading LLC
22. Shahnoor Foodstuff Trading LLC
23. Sky Link Foodstuff Trading LLC
24. Syahm Goods Wholesalers Co. LLC
25. Bright Century Goods Wholesalers LLC
26. Shorooq Al Deira Foodstuff Trading LLC
27. Green House Foodstuff Trading LLC
28. New Marhaba Foodstuff Trading LLC
29. Agro Link Foodstuff Trading FZE
30. Blue Bay Foodstuff Trading LLC
31. Zafar Iqbal Fruits and Vegetables Trading LLC
32. Wadi Al Zain Foodstuff Trading LLC
33. Evergreen Foodstuff Trading LLC
34. Muhammad Asim Fish and Foodstuff Trading LLC
35. Green Tower Foodstuff Trading LLC
36. Makhmali Foodstuff Trading LLC
37. Najmat Al Maizan Foodstuff Trading LLC
38. ACP Foodstuff Trading LLC
39. Wahat Al Rawahil General Trading LLC
40. Salat Al Ahlam General Trading LLC

 

 

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