Pepper market on June 25, 2024

 

Pepper market on June 25, 2024: Trading around 145,000-146,000 VND/kg

Posted onJune 25, 2024by VPA

June 25

Pepper price today June 25 is in the range of 145,000 - 146,000 VND/kg. This year, with little inventory, most farmers kept their goods. The sharp decline earlier this week may have had speculative elements. Agents kept farmers' goods, now turning to pressurize prices.

This year, with small inventories, most farmers kept their goods, in a context where there was no financial pressure like in previous years. The sharp decline earlier this week may have had speculative elements from market participants. Agents kept farmers' goods, now turning to pressurize prices.

In addition, domestic pepper prices have decreased because the world market is plummeting. In 2 recent consecutive trading sessions, Vietnam's export pepper prices dropped sharply. Ahead of the Muslim holiday Eid al-Adha, the market surged as buying increased. Right after the holiday, the trading market returned to normal, causing prices to fall sharply.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,090 USD/ton, down 9.62%; Brazilian black pepper price ASTA 570 was at 7,200 USD/ton, down 4.17% USD/ton; Kuching (Malaysia) ASTA black pepper price is 7,500 USD/ton.

Muntok white pepper price was 9,027 USD/ton, down 7.36%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

In the first session of the week, both world and domestic pepper prices adjusted sharply down after a period of moving sideways at the end of last week.

The International Pepper Community commented that last week showed mixed reactions when Muslims around the world celebrated Eid al-Adha.

Accordingly, in the South Asia region, India's domestic and international pepper prices have continued to increase over the past 5 weeks. After 5 weeks of recording increases, Sri Lankan domestic pepper prices decreased last week.

In Southeast Asia, although the Indonesian Rupiah decreased by 1% against the USD (16,415 IDR/USD), both domestic and export pepper prices in this country continued to increase since last week.

Malaysian domestic pepper prices continued to increase in the past 2 weeks. Furthermore, the export price of pepper in this country also recorded an increase. Only Vietnam's domestic black pepper price recorded a decrease last week. Other types are stable.

After 3 weeks of recording an increase, Brazilian black pepper prices recorded a decrease last week. Prices of Chinese white pepper and Cambodian black pepper are both stable and unchanged.

According to KTĐT.v

 

Vietnamese pepper accounts for 61.5% of the market share in the EU

Posted onJune 24, 2024by VPA

June 24

According to data from the European Statistics Agency (Eurostat), Vietnam continued to be the largest pepper supplier to the European Union (EU) in the first 4 months of the year with a volume of 11,359 tons, an increase of 25.1%. compared to the same period last year and accounted for 61.5% of the region's total imports of this product.

Pepper imports   in the EU are showing signs of recovery in the first months of 2024 after a decline last year.

Eurostat data shows that the EU imported 18,474 tons of pepper from foreign markets in the first 4 months of the year, worth 83.7 million EUR, an increase of 22.9% in volume and 27% in value compared to the same period last year. period 2023.

In April alone, the amount of pepper imported into the EU reached its highest level since the beginning of 2023 until now, with 5,440 tons, up 22.7% over the previous month and up nearly 40% over the same period. This is also the fourth consecutive month that EU pepper imports increased compared to the same period last year.

Source: Hoang Hiep compiled from Eurostat data

Regarding the supply market, the EU imported a total of 11,359 tons of pepper from Vietnam in the first 4 months of the year with a value of more than 48.5 million EUR, an increase of 25.1% in volume and 32.1% in value compared to with the same period last year. With this result, Vietnam continues to be a pepper supplier to the EU with a market share of 61.5% of the region's total import volume of this product.

EU pepper imports from other markets also increased sharply over the same period last year such as: Brazil reached 3,443 tons, an increase of 25.3%; Indonesia reached 1,384 tons, an increase of 32.2%; India reached 952 tons, an increase of 9.9%.

The EU's average imported pepper price   from Vietnam reached 4,273 EUR/ton, from Brazil it was 3,665 EUR/ton, Indonesia 5,509 EUR/ton, and India alone reached 6,646 USD/ton.

 In addition to competitive prices, Vietnamese pepper  export  businesses have an advantage over some exporting countries such as India, Malaysia, Indonesia,... thanks to the EVFTA Agreement, which helps reduce import taxes on ground or crushed pepper. EU reduced from 4% to 0%.

Source: Hoang Hiep compiled from Eurostat data

In the first 4 months of the year, the top pepper importing countries in the EU included Germany with 5,829 tons, accounting for 31.6% of the market share; Netherlands 4,588 tons, accounting for 24.8%; France 2,827 tons, accounting for 15.3%... The three countries mentioned above account for 71.7% of the EU's total pepper imports from the world.

Besides domestic consumption, importers also re-export a significant portion of pepper to other countries in the region.

Last year, due to the impact of economic recession,  inflation   and high interest rates, EU pepper imports from foreign markets only reached 50,264 tons, worth 217.4 million EUR, a decrease of 20.4% in terms of value. quantity and decrease 30.4% in value compared to 2022.

According to the Center for Promotion of Imports from Developing Countries (CBI), Europe does not produce pepper, so the region's consumption mainly depends on imported supplies.

This agency also said that up to 95% of pepper imported into the EU is consumed in countries in the region and only 5% of that is re-exported to countries outside Europe.

Black pepper consumption in Europe is expected to grow steadily in the near future, with an expected increase of about 0.5% in 2023 and 1.8% in 2024.

CBI forecasts that pepper imports from European countries will grow by 1-2% each year. The European market offers a price advantage over Asian markets for high quality and sustainably produced black pepper.

Meanwhile, the Ministry of Industry and Trade, citing sources from the Vietnam Pepper and Spice Association (VPSA), said that the EU is a potential market for Vietnamese pepper exports. However, to take advantage of these opportunities, the pepper industry must move towards sustainable production, because more and more European consumers are demanding certifications that ensure products are sustainable.

Recently, the EU market's requirements and regulations on non-tariff barriers continue to increase and become increasingly strict. This market also continuously has warnings about pesticide residues as well as increasing the frequency of control and tightening MRLs regulations for food in general, including Vietnamese spices.

Currently, the EU has issued more than 500 criteria on MRL and continues to have more and more new criteria issued. The criteria issued later are becoming more and more difficult and strict. At the same time, the area of ​​active ingredients allowed to remain regulated is also wider.

According to VietnamBiz.

Vietnam - Demand for pepper in the US market increased sharply

 

Demand for pepper in the US market increased sharply

Posted onJune 23, 2024by VPA

June 23

The amount of US pepper imports increased by 24.5% over the same period last year. Of which, Vietnam is the main supplier, accounting for 76% of the market share.

According to the Vietnam Pepper and Spice Association (VPSA), in the first 5 months of the year, Vietnam  exported   a total of 114,424 tons of pepper of all kinds with a turnover of 493.1 million USD, down 13.2%. In terms of volume, however, export turnover increased by 20.6% over the same period last year.

In particular, the US surpassed China to return to the leading position in Vietnam's largest pepper export market with a volume of 30,466 tons, accounting for 26.6% of the market share and an increase of 44.4% over the same period. period.

According to data from the US International Trade Commission (USITC),  the country's demand for pepper  imports  is increasing strongly again after two consecutive years of decline due to the impact of  inflation   and rising interest rates.

By the end of April this year, the US imported 27,872 tons of pepper from the world worth 130.53 million USD, up 24.5% in volume and 24.2% in value compared to the same period last year. .

In April alone, the amount of imported pepper was 8,007 tons, up 39% over the previous month and up 32.8% over the same period in 2023.

 Source: Hoang Hiep compiled data from USITC 

Notably, Vietnam continued to be the largest pepper supplier to the US in the first 4 months of the year, accounting for 76% of the market share with a volume of 21,259 tons, worth more than 97.3 million USD, an increase of 19.2% in terms of sales. quantity and increased 21.5% in value compared to the same period last year.

In addition, the US also increased pepper imports from other markets such as: India reaching 2,258 tons, an increase of 20.8%; Indonesia reached 2,233 tons, an increase of 133.6%; Brazil reached 1,106 tons, an increase of 59.2%.

 Vietnam's average export price of pepper  to the US in the first 4 months of the year reached 4,576 USD/ton, up 1.9% over the same period last year. At the same time, it is higher than Brazil's price of 4,017 USD/ton, but lower than 4,933 USD/ton of Indonesia and 5,000 USD/ton of India.

Vietnamese pepper holds a large market share in the US thanks to its good price and increasingly high quality, making it popular in this market. Vietnam's pepper industry is also highly appreciated for its processing capacity with the rate of processed goods accounting for about 30% of total export turnover.

In terms of consumption demand, the US is currently the world's largest pepper importer. In the past 3 years, the US has spent 320 - 440 million USD/year to import this spice, equivalent to 19 - 20% of global pepper trade.

 Source: Hoang Hiep compiled data from USITC 

In recent times, the global pepper supply has decreased while demand has increased from the US and some other major markets, pushing the price of this commodity to its highest level in the past 8 years.

In Vietnam's domestic market, as of June 21, black pepper prices were traded at 156,000 - 160,000 VND/kg, nearly doubling compared to the beginning of the year and 2.2 times higher than the same period last year.

However, this price has decreased by about 20,000 VND/kg compared to the peak of 180,000 VND/kg reached on June 11.

The Import-Export Department (Ministry of Industry and Trade) forecasts that pepper prices will continue to increase in the near future, but the growth rate will slow down. There is currently a shortage of pepper supply while demand has recovered strongly from major markets such as Europe, the US and China. This year's pepper output from Vietnam and many major producing countries is forecast to decline, due to the impact of the El Nino phenomenon and the decline in cultivated area.

According to the Vietnam Pepper and Spice Association, the prolonged drought weather phenomenon has led to a 10% decrease in Vietnam's pepper output this year to about 170,000 tons compared to last year, the lowest level in 5 years. via.

Meanwhile, just through the first 5 months of the year, Vietnam has exported over 114,000 tons, equivalent to 67% of output. This shows that the supply for export is not much left.

“Although pepper prices are forecast to continue to increase in the near future, the management agency recommends not massively expanding planting areas but focusing on investing and taking care of intensive farming to grow pepper. sustainable and stable development,” said the Import-Export Department.

 

Pepper market on June 21, 2024: Slight increase

Posted onJune 21, 2024by VPA

21
Jun

Pepper price today June 21, 2024 only increased by 1,000 VND in Ba Ria Vung Tau. Currently, domestic pepper prices are trading around 155,000 - 160,000 VND/kg.

Pepper prices  today June 21 in the world

Around the world, the pepper market on June 21 turned down in Indonesia but remained unchanged in other countries.

Accordingly, the price of Lampung black pepper in Indonesia decreased by 24 USD; about 7,790 USD/ton. The price of Muntok white pepper in this country decreased by 31 USD; at 9,713 USD/ton.

Malaysia's Kuching ASTA black pepper price is anchored at 7,500 USD/ton; This country's ASTA white pepper costs 8,800 USD/ton.

For the Brazilian market, the price of ASTA 570 black pepper is anchored at 7,600 USD/ton.

In Vietnam, the export price of 500 g/l black pepper is trading at 7,800 USD/ton; The 550 g/l type is kept at 8,000 USD/ton. The export price of white pepper is anchored at 12,000 USD/ton.

Pepper type	Price	Change
Lampung black pepper (Indonesia)	7,814	-0.31%
Muntok white pepper	9,744	-0.32%
Brazilian black pepper ASTA 570	7,600	–
Kuching black pepper (Malaysia) ASTA	7,500	–
ASTA Malaysian white pepper	8,800	–
Black pepper type 500 g/l Vietnam	7,300	–
Black pepper type 550 g/l Vietnam	7,800	–
Vietnamese white pepper	11,300	–

Latest world pepper price list on June 21, 2024. Unit: USD/ton

Thus, world pepper prices on June 21, 2024 decreased slightly in Indonesia compared to yesterday.

Pepper prices today  June 21 in the country

Domestically, the pepper market on June 21 was less volatile than yesterday.

Specifically, Dak Lak still purchases pepper at a price of 160,000 VND/kg;

Similarly, Dak Nong pepper price today maintained trading at 160,000 VND/kg;

Gia Lai pepper price today moved sideways, remaining at 156,000 VND/kg;

Currently, Dong Nai traders buy pepper at a price of 156,000 VND/kg;

Increasing 1,000 VND, Ba Ria - Vung Tau pepper price increased to 157,000 VND/kg;

Binh Phuoc traders are still trading pepper at 155,000 VND/kg.

Province	Price	Up and down
Dak Lak	160,000	–
Dak Nong	160,000	–
Gia Lai	156,000	–
Dong Nai	156,000	–
BA Ria Vung Tau	157,000	1,000
Binh Phuoc	155,000	–

Latest domestic pepper price list dated June 21, 2024. Unit: VND/kg

Domestic pepper prices   today  mainly went sideways, only Ba Ria Vung Tau increased slightly by 1,000 VND.

After the first 16 days of June 2024, Vietnam exported 16,211 tons of pepper. Of which, black pepper reached 14,347 tons, and white pepper reached 1,864 tons. Total export turnover reached 77.8 million USD.

It is expected that Vietnam will export 30,000 tons of pepper in June, bringing the total export volume in the first 6 months of 2024 to 140 - 144 thousand tons, the lowest output level in the past 5 years.

There are currently no official statistics on pepper output in the past season from management agencies, associations, and businesses. But with an average estimate of 170 thousand tons, there is not much pepper left for export until the end of the year.

Businesses increased imports but did not increase significantly, in the context of scarce global supply due to low output in many countries.

According to experts, the pepper growing area is increasingly shrinking as farmers change crops. The supply of pepper on the global market is nearly 100,000 tons short of demand. Because businesses lack goods for export, they increase purchases in a short period of time, causing prices to increase dramatically.

The current "hot" increase in pepper is partly due to Chinese traders starting to buy pepper again after a long absence.

Thus, the domestic pepper price on June 21, 2024 is trading around 155,000 - 160,000 VND/kg.

According to Nongnghiep.vn

 

#pimienta #poivre #Pfeffer #pepe #pimenta #perets #胡椒 #胡椒 #فلفل #후추 #Vinaprogroup #export #import #pepper

Pepper market on June 19, 2024

 

Pepper market on June 19, 2024: Decreasing in the provinces

Posted onJune 19, 2024by VPA

June 19

Pepper price today June 19 is in the range of 157,000 - 159,000 VND/kg, down compared to yesterday (June 18). The International Pepper Community kept pepper prices in other countries unchanged but reduced in Brazil.

As noted by Ba Ria - Vung Tau newspaper, this year's pepper crop, Mr. Hoang Van Quan (Phu Tai hamlet, Hoa Hiep commune, Xuyen Moc district) harvested 10 tons of pepper, down 3 tons compared to last year, but still profitable. quite because pepper prices have increased. About a month ago, the selling price was 100,000 VND/kg. After deducting costs, he earned a profit of 400-500 million VND, a profit he only got after more than 5 years.

As for Ms. Nguyen Thi Thuy Trang (in Hoa Hiep commune, Xuyen Moc district) does not expand the area but focuses on taking care of the existing pepper garden of 4.3 hectares. According to Ms. Trang, pepper prices are at their highest level in the past 7 years, helping growers have a good source of income.

According to the agricultural sector, the whole province has more than 10,500 hectares of pepper, most of which is in the business stage, concentrated mainly in Chau Duc and Xuyen Moc districts.

The rush to plant pepper when prices increase is no longer the case. Instead, farmers focus on taking care of and improving their gardens better. Some households plant new trees on dead and old tree areas and cultivate organically for sustainable development.

Meanwhile, according to experts, the current price of pepper is still not attractive for people to grow again. Because durian and coffee are at very good prices; The lands where durian and coffee are grown are also the same areas where pepper was grown in the past.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 6,418 USD/ton; Brazilian black pepper price ASTA 570 is at 7,600 USD/ton, down 300 USD (3.95%); Kuching (Malaysia) ASTA black pepper price remained at 4,900 USD/ton.

Muntok white pepper price 8,377 USD/ton; Malaysian ASTA white pepper price is still at 7,300 USD/ton.

Vietnam black pepper price is trading at 7,800 USD/ton for 500 g/l type; type 550 g/l at 8,000 USD/ton; White pepper price is at 12,000 USD/ton. IPC kept pepper prices unchanged in other countries but reduced in Brazil.

According to KTĐT.vn

 

Pepper market June 17, 2024: Pepper prices increased again

Posted onJune 17, 2024by VPA

June 17

Pepper price today June 17 is in the range of 160,000 - 161,000 VND/kg, an increase of 3,000 VND compared to last weekend. Currently, the inventory level of traders is assessed at a low level. In particular, some dealers have faced shortages and were unable to buy back when the market increased rapidly.

In the latest report, PTEXIM Corp assessed that the current inventory level of intermediaries, an important link connecting farmers with exporters, is assessed at a low level. In particular, some dealers have faced shortages when they sold out and were unable to buy back when the market increased rapidly. The company said that the above reason causes prices to escalate further.

The average inventory in the hands of intermediaries is very small, the lowest in recent years, due to the increasingly expensive capital cost of black pepper. Purchasing and storing inventory becomes difficult and requires large capital, leading to low inventory levels.

PTEXIM Corp further informed that with Brazil forecast to have a crop failure and slow harvest due to prolonged harsh weather, the price of black pepper at SPOT spot warehouse continuously increased sharply. This leaves many manufacturers unprepared for the year's production needs.

Many importers/processors expect that the supply of raw materials will be supplemented from Brazil and Indonesia, leading to a shortage of raw materials for production because Brazil/Indonesia hardly offers them for sale, causing prices to continuously skyrocket in recent times. via.

Brazilian pepper prices increased sharply, according to reports from Brazilian exporters, the main reason being mass crop failures in Espirito Santom state, the country's main pepper production area.

Currently, experts say that the shipping market is in a more difficult crisis than during Covid-19. In fact, due to the lack of ships, freight prices suddenly increased again, 2 - 2.5 times higher than 2 months ago. The reason for the impact on freight rates is the impact of the ongoing Red Sea crisis in the Panama Canal, and signs of escalation in the US-China trade war.

In addition to supply and demand factors, the above factors are causing commodity prices to increase, setting new floors, including pepper.

Commenting on pepper prices this week, experts say that they are still increasing steadily in all countries, but the domestic market continues to adjust, depending heavily on speculation.

According to KTĐT.vn

Pepper market update 17th June 2024 – Week 24

 

 

•        Last week, the pepper price experienced dizzying fluctuations. Prices surged and dropped significantly within hours. There were days when the market increased by up to 8%, but then decreased by 7-9% in just one day.

 

•        It can be said that the market last week was chaotic, with many moments when there were no reference prices.

 

•        At the end of the week, prices had unchanged and kept the same level 174.000vnd.

 

It is important to note that in June, Vietnam is expected to export 26-30,000 tons of pepper, bringing the total exported quantity in the first 6 months to reach between 140,424 tons and 144,424 tons. This is an impressive export figure as Vietnam’s crop is forecasted to be the lowest in production in the past 5 years.

 

Furthermore, Vietnam is currently the largest pepper-producing country, almost the only affordable supplier with a large quantity in the global pepper market. Other countries like Brazil and Indonesia are forecasted to have poor crops, with the upcoming crop season starting around August. Therefore, considering stockpiling to ensure production orders is a necessary consideration, despite the increasing capital costs and rising transportation fees in recent times.

 

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