Vietnam Pepper market update 3rd June 2024 – Week 22

 

•        The price of pepper continued to increase by 18.5% last week. Therefore, the price of pepper has almost only increased since the beginning of April until now and there are no signs of stopping.

 

•        Besides the supply and demand factors, we can clearly see that many agents and exporters are facing a shortage of raw materials for their signed orders. This leads to a need to intensify the collection of raw materials to ensure the progress of orders to be delivered in the 2nd/3rd/4th quarter 2024. This is the main reason for the continuous and strong price increases in the market recently.

 

•        In addition, the rapid price increase has encouraged speculation activities from agents, exporters, and local farmers in the domestic market as the predicted decrease in raw materials supply is expected to be significant. Vietnam has exported 113,000 tons in the first five months of the year while the supply is narrowing. The amount needed for export has decreased significantly while the harvest season for 2025 is still 8 months away. This is a significant challenge for the pepper market as the supply is forecasted to be lower than the global demand.

 

 

 

BRAZIL - Pepper market comment

According to the Brazilian State Center for Foreign Trade Statistics (Comex Stat), in April, Brazil exported 7,596 tons of pepper, down 11.3% over the same period last year.

With this result, Brazil's pepper exports in the first 4 months of the year reached 25,939 tons, worth 93.4 million USD, compared to the same period in 2023, down 10.3% in volume but up 12.1% in value. Brazil's average export pepper price in the first 4 months of the year reached 3,601 USD/ton, up 25% over the same period last year.

Vietnam is the main export market of Brazilian pepper, accounting for 17.9% of the total volume, reaching 4,643 tons, however compared to the same period, it decreased by 13.7%. The price of Brazilian pepper has increased higher than the selling price of Vietnam in the world market, which makes importing raw pepper from Brazil no longer attractive to Vietnamese processors.

IPC World pepper prices today - May 31, 2024

 

Updated  world pepper prices  from the International Pepper Association (IPC), at dawn this morning (Vietnam time), Indonesian pepper prices continued their downward trend compared to yesterday; Brazilian pepper prices went sideways, while Malaysia's prices continued to stagnate. Vietnamese pepper prices simultaneously stood still after a sharp increase.

Specifically, the price of Lampung black pepper (Indonesia) today traded at 5,061 USD/ton, down 0.57%; White pepper price (Indonesia) traded at 7,340 USD/ton, down 0.57%.

Brazilian black pepper price ASTA 570 today is at 5,900 USD/ton.

Malaysian ASTA black pepper price remains at 4,900 USD/ton; Malaysian ASTA white pepper price is still at 7,300 USD/ton.

Prices of Vietnamese pepper of all kinds increased sharply. In particular, the price of Vietnamese black pepper type 500 g/l today is trading at 5,400 USD/ton; with type 550 g/l trading at 5,900 USD/ton; ASTA white pepper price is trading at 8,000 USD/ton.

Prices of all kinds of pepper on Kochi (India) today are still flat compared to yesterday. In particular, Garbled type traded at 62,500 Rupees/100kg, UnGarbled type at 60,500 Rupees/100kg.

Global pepper exports the first months of 2024 will change significantly. While Vietnam and Brazil decreased, India and Indonesia are two countries with strong increases in exports.

 

Pepper market on May 30, 2024

 

Pepper market on May 30, 2024: Strong increase, approaching 130,000 VND/kg

Posted onMay 30, 2024by VPA

30
May

Pepper prices today May 30, 2024 in the world are still fluctuating in opposite directions. Domestic pepper prices increased by 5,000 VND, trading at 127,000 - 129,000 VND/kg.

World pepper prices  today May 30

In the world, the pepper market on May 30 continued to decrease in Indonesia but remained stable in other countries.

Accordingly, the price of Lampung black pepper in Indonesia decreased by 0.41%; about 5,090 USD/ton. The price of Muntok white pepper in this country also decreased by 0.41%; at 7,382 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 is anchored at 5,900 USD/ton.

In Vietnam, export prices of black pepper 500 and 550 g/l increased sharply to 5,400 (up 11.11%) and 5,900 USD/ton (up 15.25%), respectively. The export price of white pepper increased to 8,000 USD/ton (up 10%).

Pepper type	Price (Unit: USD/ton)	Change
Lampung black pepper (Indonesia)	5,090	0.41%
Brazilian black pepper ASTA 570	5,900	–
Kuching black pepper (Malaysia) ASTA	4,900	–
Muntok white pepper	7,382	0.41%
ASTA Malaysian white pepper	7,300	–
Black pepper type 500 g/l Vietnam	5,400	11.11%
Black pepper type 550 g/l Vietnam	5,900	15.25%
Vietnamese white pepper	8,000	10.00%

World pepper prices today  continue to decrease slightly in Indonesia. Meanwhile, Vietnam's export pepper prices increased sharply and remained flat in other markets.

Currently, pepper prices in Brazil and Indonesia are currently higher than Vietnam. Therefore, many industry experts believe that the growth potential of Vietnamese pepper is still significant.

Thus, world pepper prices on May 30, 2024 decreased slightly in Indonesia compared to yesterday.

Pepper prices today  May 30 in the country

Domestically, the pepper market on May 30 continued to increase sharply compared to yesterday.

Specifically, Dak Lak purchased pepper at a price of 129,000 VND/kg, after increasing it by 3,000 VND;

Dak Nong pepper price today increased by 3,000 VND, trading to 128,000 VND/kg;

Gia Lai pepper price today is anchored at 127,000 VND/kg, an increase of 4,000 VND;

Similarly, Dong Nai traders have purchased pepper at a price of 127,000 VND/kg;

The latest Ba Ria - Vung Tau pepper price on May 30 is 128,000 VND/kg, an increase of 5,000 VND;

Increasing by 3,000 VND, traders in Binh Phuoc traded pepper up to 128,000 VND/kg.

Province	Price	Up and down
Dak Lak	129,000	3,000
Dak Nong	128,000	3,000
Gia Lai	127,000	4,000
Dong Nai	127,000	4,000
BA Ria Vung Tau	128,000	5,000
Binh Phuoc	128,000	3,000

Latest domestic pepper price list on May 30, 2024. Unit: VND/kg

Domestic pepper prices   today  increased for the second consecutive day by 3,000 - 5,000 VND/kg. Thereby helping this agricultural product approach the high threshold of 130,000 VND/kg.

Thus, domestic pepper prices on May 30, 2024 are trading around 127,000 - 129,000 VND/kg.

According to Nongnghiep.vn

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.