Pepper market on July 15, 2024

 

Pepper market on July 15, 2024: Pepper price stands at 150,000-151,000 VND/kg

Posted onJuly 15, 2024by VPA

15
Jul

Pepper price today July 15 is in the range of 150,000 - 151,000 VND/kg. Last week, the rapid increase in domestic coffee has absorbed all the capital from pepper. Currently, goods are coming to the market in small drops. There are no businesses buying thousands of tons of pepper right now, making demand in the market "fragile".

Pepper prices at the beginning of this morning remained stable compared to the same time yesterday. Summary: Last week, pepper prices decreased slightly in Dak Lak, increased in Ba Ria - Vung Tau, while remaining unchanged in the remaining localities.

Last week, the rapid increase in domestic coffee has absorbed all the capital from pepper. Currently, goods are coming to the market "in a trickle". There are no businesses buying thousands of tons of pepper right now, making demand in the market "fragile".

In addition to supply and demand issues, shipping congestion continues to affect exports in general and pepper in particular.

Container ship rates have skyrocketed due to delays and rerouting. According to statistics from the Financial Times, freight rates have increased fivefold in the past year and it is only a matter of time before consumers have to bear some of the increased costs.

Container port congestion in Singapore, one of Asia's largest ports, is spreading to Malaysia. Singapore's container port is currently the world's largest container transshipment hub, connecting more than 600 ports from 123 countries and with an annual capacity of about 50 million TEUs. Analysts expect congestion at shipping terminals could last until August.

Increased freight prices are embedded in the cost of goods, this is also a factor pushing pepper prices to continue to increase in the coming time. However, reporting on industrial and commercial production for the first 6 months of 2024, the Ministry of Industry and Trade stated that, according to the cycle, demand for goods will increase in both the domestic and world markets at the end of the year.

Vietnam is benefiting from a wave of orders shifting from the US and has many advantages in boosting exports to China. Pepper is also one of the export products affected as above. This year's export turnover of billions of dollars is wide open to completion with the current high pepper export price.

According to the Vietnam Pepper and Spice Association, the average export price of black pepper in 6 months reached 4,365 USD/ton, white pepper reached 5,983 USD/ton, an increase of 922 USD for black pepper and 1,028 USD for pepper, respectively. white compared to the same period in the first 6 months of 2023.

Commenting on the market this week, experts say that there has not been a driving force to push prices up. However, domestic pepper prices have formed a new price range and are difficult to reduce further. Pepper prices fluctuate around 150,000 VND/kg. If this week's coffee adjusts down after the past 2 hot weeks, capital flows will flow back to pepper, expected to bring the price to 155,000 VND/kg.

Pepper market July 10th 2024 - Prices Increased sharply

 

Pepper prices increased sharply, export turnover increased by 30.5% in the first half of the year

Posted onJuly 10, 2024by VPA

10
Jul

In the first 6 months of 2024, exports to the US increased by 44.6% to 37,435 tons, accounting for 26.3% of the market share. Next are the markets of Germany, India, China,...

According to statistics from the Vietnam Pepper and Spice Association (VPSA), in the first 6 months of 2024, by the end of June 2024, Vietnam has  exported   142,586 tons of pepper of all kinds, down 6.8%. in volume but increased by 30.5% in turnover.

Of which, the amount of black pepper exported reached 125,959 tons, white pepper reached 16,627 tons. Total export turnover reached 634.2 million USD, black pepper reached 539.9 million USD, white pepper reached 94.3 million USD.

In the first 6 months of 2024, the US is Vietnam's largest pepper export market with a volume of 37,435 tons, an increase of 44.6% over the same period last year, accounting for 26.3% of the market share. Next are markets such as Germany with 9,526 tons, an increase of 106.7%; UAE: 8,388 tons, up 15.2%; India: 8,173 tons, up 45.7%, China: 7,453 tons, down 85.2% and Netherlands: 6,019 tons, up 52.1%.

Top white pepper export markets: Germany: 2,454 tons, US: 2,044 tons, Netherlands: 1,779 tons, Thailand: 1,732 tons and China: 1,567 tons...

Along with that, Vietnam  imported   18,002 tons of pepper of all kinds, of which black pepper reached 16,357 tons, white pepper reached 1,645 tons, total import turnover reached 69.6 million USD, an increase of 18.9% over the same period. period last year. The three main pepper supply countries to Vietnam include: Brazil reaching 7,241 tons, down 22.3%; Cambodia reached 6,212 tons, an increase of 34.5%; Indonesia reached 2,991 tons, an increase of 67.3%.

The continuous increase in pepper prices   is the reason why although export value has increased, quantity has decreased. Currently, the average export price of Vietnamese pepper has increased by 1,000 USD/ton compared to the same period in 2023. Specifically Specifically, the price of black pepper reached more than 4,300 USD/ton, white pepper reached nearly 6,000 USD/ton.

The main reason for the sharp increase in pepper prices is that global pepper output has decreased significantly due to the El Nino phenomenon and the decline in planted area, and the amount of inventory from last year transferred to this year in Vietnam (the largest pepper exporting country). world today) is almost negligible while demand in major markets such as Europe, America and China has increased sharply.

“This is pushing pepper into a new price increase cycle. This cycle will last for the next 10 years and the price can reach 350,000 - 400,000 VND/kg," Mr. Hoang Phuoc Binh, Standing Vice Chairman of Chu Se Pepper Association (Gia Lai) shared with  VnEconomy.

According to VPSA's assessment, Vietnam's pepper output in 2024 is estimated to decrease by 10% compared to 2023, to only about 170,000 tons. This is the lowest level in the past 5 years.

In Brazil, one of the major pepper exporting countries, the 2024 pepper crop here will be severely affected by prolonged drought. Brazil's pepper output is expected to be the lowest in many years, down 20-40% compared to the previous year. If experts' predictions about Brazil are correct, the pepper market can only become vibrant again from September onwards.

Sharing with VTV Online, a representative of the Import-Export Department (Ministry of Industry and Trade) predicted that the increase in domestic pepper prices will push up export pepper prices and the pepper industry can be expected to earn billions of USD in exports this year. now.

Not only that, in the world market it is also forecast that pepper prices will continue to increase but the growth rate will slow down. In the domestic market, black pepper prices have increased sharply due to limited supply, but people should not massively expand planting areas but focus on investing and taking care of intensive farming so that pepper plants can develop sustainably. and stable.

As for domestic businesses, VPSA recommends that export businesses be careful in purchasing and exporting activities to avoid risks similar to the  recent coffee or  rice  prices.

According to VietnamBiz.vn

Vietnam exported 142 k pepper in the first 6 month of 2024

 

 

 

By the end of June 2024, Vietnam had exported 142,586 tons of pepper of all kinds, of which black pepper reached 125,959 tons and white pepper reached 16,627 tons.
Total export turnover reached 634.2 million USD, black pepper reached 539.9 million USD, white pepper reached 94.3 million USD.

Compared to the same period last year, export volume decreased by 6.8%, but export turnover increased by 30.5%.
The average export price of black pepper in 6 months reached 4,365 USD/ton, white pepper reached 5,983 USD/ton, an increase of 922 USD for black pepper and 1,028 USD for white pepper compared to the same period in the same 6 months of 2023.

Main destination of Vietnam Black pepper exports in the first 6 months of 2024

US: 37,435 tons, increased by 44.6% to
Germany: 9,526 tons, an increase of 106.7%;
UAE: 8,388 tons, up 15.2%;
India: 8,173 tons, up 45.7%,
China: 7,453 tons, down 85.2% and
Netherlands: 6,019 tons, up 52.1%.

Top white pepper export markets:

Germany: 2,454 tons,
US: 2,044 tons,
Netherlands: 1,779 tons,
Thailand: 1,732 tons 
China: 1,567 tons

Pepper market on July 9, 2024

 

Pepper market on July 9, 2024: increased simultaneously, exports increased by 1,000 USD since the beginning of the year

Posted onJuly 9, 2024by VPA

09
Jul

Pepper price today July 9 is in the range of 153,000 - 154,000 VND/kg.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,162 USD/ton, an increase of 0.28%; Brazilian black pepper price ASTA 570 was at 7,175 USD/ton, down 1.05%; Kuching (Malaysia) ASTA black pepper price is 7,500 USD/ton.

Muntok white pepper price was 9,119 USD/ton, up 0.29%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam black pepper price is trading at 6,000 USD/ton for 500 g/l type; type 550 g/l at 6,600 USD/ton; White pepper price is at 8,800 USD/ton. IPC continued to slightly increase pepper prices in Indonesia, decreasing in Brazil.

Ptexim's latest weekly report said that many experts in Brazil assess that the 2024 crop in this country will be severely affected by prolonged drought. Brazilian production is expected to be the lowest in many years, with the 2024 crop year down 20-40% compared to 2023.

If experts' forecasts about Brazil are correct, expect the pepper market to be more vibrant from September onwards.

Meanwhile, by the end of June 2024, Vietnam had exported 142,586 tons of pepper of all kinds, of which black pepper reached 125,959 tons and white pepper reached 16,627 tons. Total export turnover reached 634.2 million USD, black pepper reached 539.9 million USD, white pepper reached 94.3 million USD.

Compared to the same period last year, export volume decreased by 6.8%, but export turnover increased by 30.5%. The average export price of black pepper in 6 months reached 4,365 USD/ton, white pepper reached 5,983 USD/ton, an increase of 922 USD for black pepper and 1,028 USD for white pepper compared to the same period in the same 6 months of 2023.

In the first 6 months of 2024, exports to the US increased by 44.6% to 37,435 tons, accounting for 26.3% of the market share. Next is the German market: 9,526 tons, an increase of 106.7%; UAE: 8,388 tons, up 15.2%; India: 8,173 tons, up 45.7%, China: 7,453 tons, down 85.2% and Netherlands: 6,019 tons, up 52.1%. Top white pepper export markets: Germany: 2,454 tons, US: 2,044 tons, Netherlands: 1,779 tons, Thailand: 1,732 tons and China: 1,567 tons...

According to KTĐT.vn

Pepper market update 8th July 2024 – Week 27 – Monthly report.

 

Vietnam

•        Last week, the price of pepper was rapid fluctuations, with prices fluctuating by $100-200 within a day. However, after the decrease, the price of pepper quickly recovered within a few hours. By the end of the week, the price of pepper decreased from 160,000 VND to 159,000 VND, equivalent to 0,6% down.

•        Demand has been relatively slow in the entire market as many countries have started holidays.

Brazil

•        There have been clearer information in the second largest pepper supplier in the world, Brazil. Many experts in Brazil assess that the 2024 season is severely affected by prolonged drought. Brazil’s production is expected to be the lowest in many years, with a decrease in the harvest of the 2024 season by 20-40% compared to 2023.

•        If the forecasts of experts regarding Brazil are accurate, we can expect the pepper market to become more active from September onwards.

 

Please see the REPORT FILE & FULL QUOTATION LIST by click to download.

 

https://drive.google.com/file/d/13CjGCpDlG2Rz0E1exlWfGHGr_64LSTNG/view?usp=sharing

Pepper market on July 8, 2024

 

Pepper market on July 8, 2024: Price fluctuates at 151,000 VND/kg

Posted onJuly 8, 2024by VPA

08
Jul

Pepper price today July 8 is in the range of 150,000 - 151,000 VND/kg. Last week it lost up to 6,000 VND/kg, but pepper is having a series of 2 consecutive days of increases. Signs of supply shortage continue to be the driving force for pepper prices to increase this week, expected to regain the 160,000 VND/kg mark.

In Dak Lak province, today's pepper purchase price is 151,000 VND/kg.

In Dak Nong province, today's pepper price was purchased at 151,000 VND/kg.

In Gia Lai province, today's pepper price is 150,000 VND/kg.

Meanwhile in Dong Nai, today's pepper price is at 150,000 VND/kg.

In Ba Ria - Vung Tau province, pepper price today is at 150,000 VND/kg.

In Binh Phuoc province, today's pepper price is purchased at 150,000 VND/kg.

Pepper prices at the beginning of this morning remained stable in localities compared to the same time yesterday. Summarizing last week, pepper prices decreased by an average of 3,000 - 6,000 VND/kg.

Vietnam Pepper and Spice Association informed that in the first 6 months of the year, Vietnam imported 18,002 tons of pepper of all kinds, of which black pepper reached 16,357 tons, white pepper reached 1,645 tons. Total import turnover reached 69.6 million USD.

Compared to the same period last year, imports increased by 18.9%. The 3 main countries supplying pepper to Vietnam include: Brazil: 7,241 tons, down 22.3%; Cambodia: 6,212 tons, up 34.5%; Indonesia: 2,991 tons, up 67.3%.

In the context of reduced domestic supply, domestic businesses have had to increase import of pepper from other countries. In the past, Brazilian pepper was always considered reasonably priced, and many countries sought to import it. However, this year with the general increase in the market, Brazilian pepper prices also increased quite rapidly. In this country, the pepper harvest is also forecast to be unfavorable.

In addition, increased transportation costs due to political instability in the world make it difficult to import pepper from Brazil. Faced with the above situation, it is understandable that pepper imports from Southeast Asian countries Indonesia and Cambodia increased sharply.

Commenting on the market, experts said that last week it lost up to 6,000 VND/kg, but pepper is having a series of 2 consecutive days of increases during the weekend.

The Vietnam Pepper and Spice Association quoted experts as saying that signs of supply shortage compared to demand will continue to be recorded in the near future until the end of the season. This continues to be the driving force for pepper prices to increase this week, expected to regain the mark of 160,000 VND/kg.

According to KTĐT.vn

 

Market information for Vietnamese and Brazilian pepper

Posted onJuly 2, 2024by VPA

02
Jul

In recent times, price information on the website of the International Pepper Association (IPC) about Vietnamese pepper prices has differed greatly from the information provided by VSPA, and at times there were errors. To avoid psychological fluctuations that lead to making decisions that cause economic damage, we recommend that farmers, agents, export companies, and foreign customers refer to other sources to ensure more objectivity and reliability when deciding to buy/sell. VPSA will try to update information about countries and export prices of Vietnamese Pepper in the most accurate and timely manner.

Data show that by the end of June 2024, Vietnam has exported an estimated 140 thousand tons, with a turnover of 550 million USD, down 8.2% in volume but up 32.2% in value over the same period. 2023. Thus, there are still 7-8 months left until the new harvest (expected after the Lunar New Year from February 2025) while the amount of goods left by people, agents and businesses is not as much as VPSA received. previously determined.

Brazil, by the end of May, had exported 31,846 tons, down 8% over the same period. It is expected that the next harvest will be in August in the Espirito Santos region and in November in the Para region. It is estimated that the whole country will collect about 60 thousand more tons.

According to some farmers in the Espirito Santos region, the harvest in 2024 may be 25-30% lower due to the heat causing most of the first cotton to fall and the ratio of fruit set to buds of the second and second cotton blooms. Phase 3 is quite low so it is expected to only reach about 70% compared to last year. Overall, the whole country in 2024 may decrease by 20-25% compared to 2023.

Some experts believe that signs of supply shortage compared to demand will continue to be recognized and reflected by the market in the coming time until the end of the season.

VPSA