Pepper market May 29, 2024

 

Pepper market May 29, 2024: Pepper prices increased dramatically compared to coffee

Posted onMay 29, 2024by VPA

29
May

Pepper prices today, May 29, 2024, in the Central Highlands and Southeast regions increased sharply from 3,000 - 6,000 VND/kg.

Accordingly, Dak Lak pepper price was purchased at 126,000 VND/kg, an increase of 6,000 VND/kg compared to yesterday's price, Chu Se pepper price (Gia Lai) is currently at 123,000 VND/kg, an increase of 4,000 VND/kg compared to yesterday. Compared to yesterday, today's Dak Nong pepper price was still recorded at 125,000 VND/kg, an increase of 5,500 VND/kg.

In the Southeast region, pepper prices also increased sharply today. Accordingly, in the Ba Ria - Vung Tau area it has increased to 130,000 VND/kg, an increase of 3,000 VND/kg and in the Binh Phuoc area it has now increased to 125,000 VND/kg, an increase of 5,000 VND/kg.

Thus, after 2 days of stagnation, pepper prices in key growing areas increased sharply, especially in the Dak Lak area, pepper prices soared to an unprecedented high of 126,000 VND/kg.

Compared to the average price in recent years of only about 50,000 VND/kg, pepper prices are currently nearly 2.5 times higher. Compared to 2020 - when pepper prices hit bottom, the current market price is up to 3 times higher.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 5,111 USD/ton, down 0.20%; Brazilian black pepper price ASTA 570 is at 5,900 USD/ton; Kuching (Malaysia) ASTA black pepper price remained at 4,900 USD/ton.

Muntok white pepper price was 7,412 USD/ton, down 0.19%; Malaysian ASTA white pepper price is still at 7,300 USD/ton.

Vietnam black pepper price is trading at 4,800 USD/ton for 500 g/l type; type 550 g/l at 5,000 USD/ton; White pepper price is at 7,200 USD/ton.

According to Congthuong.vn

IPC No. 21/24, 20 - 24 May 2024 MARKET REPORT

PRICE BULETIN

KEY HIGHLIGHTS

INDIA
The pepper market this week showed a rather a positive outlook with no origins reported with a decrease as Buddhist around the world celebrate Vesak Day this week.
Both local and international price for Indian pepper reported with an increasing trend this week.

INDONESIA
Both local and international price for Indonesian pepper reported with an increasing trend this week as less stock of white pepper reported in Bangka Province.

MALAYSIA
Only local price for Malaysian pepper continued to be reported with an increasing trend for the last two (2) weeks. Whilst, international price for Malaysian pepper remained stable and unchanged.

SRI LANKA
The local price for Sri Lankan pepper continued to be reported with an increasing trend since last week.
 
VIETNAM
Both local and international price for Vietnamese pepper price continued to be reported with an increasing for the last three (3) weeks. Furthermore, experts attributed 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 as quoted from vietnamnet.vn
 
OTHER
Brazilian black pepper and Cambodian black pepper reported stable this week. Whilst, Chinese white pepper reported with an increasing trend.

IMPORT
US market reported with increase due to the increase of shipping cost as well as limited supply.

 

 

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