Vietnam Pepper Market, June 07, 2024

 

Pepper export businesses are "gutted"

Posted onJune 7, 2024by VPA

07
Jun

Amid the shocking increase in pepper prices, some businesses reported that export goods were "withdrawn" causing international customers to not receive the full amount of delivered goods.

On June 7, the domestic pepper price jumped to 164,000 VND/kg, an increase of 16,000 VND/kg compared to the previous day and an increase of more than 60% compared to mid-May. In early 2024, pepper prices were still low. at 70,000 VND/kg.

The hot increase in pepper prices helps gardeners and agents who are storing pepper profit, but commercial units that forget the practice of "buying far - selling far" will suffer losses because they have to buy goods at high prices to deliver to price contracts. short.

Processing enterprises are also tired of increasing raw material prices while final product prices can only increase slightly.

Meanwhile, the Vietnam Pepper and Spice Association reported that some businesses reported losing part of their export volume.

Pepper prices are increasing dramatically

Specifically, the importer discovered that the goods were in short supply compared to the contract, while the volume of the container, including the goods inside weighed at the port according to the weighing slip at the port, showed that the goods were of sufficient volume.

According to an internal investigation, the export enterprise suspected the possibility of goods being lost while the container was being unloaded and awaiting export. This shortage of goods reduces the trust of international partners and customers in Vietnam's logistics and shipping system as well as the reputation of export businesses. In addition, businesses have to spend more money to increase security, insure goods, and handle lost goods.

The Vietnam Pepper and Spice Association has sent a warning to its members and requested businesses experiencing similar situations to provide information for the Association to compile and report to relevant ministries and agencies for consideration. handle.

According to Labor Newspaper

Pepper market on June 5, 2024

 

Pepper market on June 5, 2024, pepper prices continue to increase rapidly in many provinces

Posted onJune 5, 2024by VPA

05
Jun

Today,  pepper prices maintain increasing momentum in many places.

In the domestic market

The latest survey shows that  pepper prices  today continue to increase in many localities.

Specifically, pepper prices in provinces are standing at 144,000 VND/kg, an increase of 1,000-2,000 VND/kg compared to yesterday.

On the world world market

According to an update from the International Pepper Association (IPC) on June 4 (local time), the trading price of Lampung black pepper (Indonesia) increased by 0.02%, the purchasing price of Brazilian black pepper ASTA 570 and the price of Kuching black pepper (Malaysia) ASTA remained stable compared to June 3.

Type name	World black pepper price list (Unit: USD/ton)
	June 3	June 4	% change
Lampung black pepper (Indonesia)	5,633	5,634	+0.02
Brazilian black pepper ASTA 570	5,900	5,900	0
Kuching black pepper (Malaysia) ASTA	4,900	4,900	0

At the same time of the survey, the purchasing price of Muntok white pepper increased by 0.03%, while the Malaysian ASTA white pepper price had no new adjustments.

Type name	World white pepper price list (Unit: USD/ton)
	June 3	June 4	% change
Muntok white pepper	7,422	7,424	+0.03
ASTA Malaysian white pepper	7,300	7,300	0

The driving force for price increases comes from global supply shortages, while demand is recovering positively; Along with that, sea freight rates increased sharply again, causing pepper export costs to increase.

Under “new normal” conditions, voyages will be longer but with fewer port calls. Routing around the Cape of Good Hope is a temporary solution to avoid risks in the Red Sea but also leads to consequences in terms of cost, time and especially increased transport emissions due to the long route. This causes a shortage of empty containers and makes a shipping crisis imminent.

The current increase in pepper prices is much higher than the most optimistic forecasts made at the beginning of the second quarter of 2024 with the prediction that pepper prices will only reach 110,000 VND/kg by the end of this quarter.

According to industry experts, the pepper market has entered a new price increasing cycle with a period lasting from 8 to 10 years, according to information from The Gioi and Vietnam newspapers.

According to VietnamBiz.vn

PINK PEPPER BRAZIL 2024 SEASON IS READY

 

PINK PEPPER BRAZIL 2024 SEASON IS READY

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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