Pepper market on August 23

 

Pepper market on August 23: Domestic price stood at 143,000 VND/kg

Posted onAugust 23, 2024by VPA

23
Aug

Pepper price today August 23 is in the range of 143,000 - 144,000 VND/kg.

The Vietnam Pepper and Spice Association (VPSA) forecasts that pepper prices will continue to increase as demand in the world market remains high, while supply is limited.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,478 USD/ton, down 0.79%; Brazilian black pepper price ASTA 570 is at 6,300 USD/ton; Kuching (Malaysia) ASTA black pepper price is 8,500 USD/ton.

Muntok white pepper price was 8,804 USD/ton, down 0.8%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam black pepper price is trading at 5,800 USD/ton for 500 g/l type; type 550 g/l at 6,200 USD/ton; White pepper price is at 8,500 USD/ton. IPC reduced Indonesian pepper prices after recent price increases.

Currently, pepper supply is limited globally due to the impact of El Nino. In the long term, in the next 3-5 years, the amount of pepper produced cannot meet the world's consumer demand.

The impact of El Nino climate change at the beginning of the year continued to impact the production and maintenance of pepper gardens of farmers. Next, the La Nina phenomenon made farmers' psychology even more disturbed, especially at the present time durian and coffee prices are high so they are still not attractive enough for farmers to replant the seeds. massively spent.

Vietnam still has about 30% of pepper inventory, equivalent to 50,000 - 55,000 tons. According to VPSA, the output of the next pepper crop is likely to be equivalent or higher than in 2024. The amount of pepper in stock among the population is not much, and although the pest and disease situation still exists, it is not too serious.

According to KTĐT.vn

Pepper market on August 22, 2024

 

Pepper market on August 22, 2024: Increased by 2,000 VND

Posted onAugust 22, 2024by VPA

22
Aug

Pepper prices today, August 22, 2024, increased for the third consecutive day. Currently, the domestic pepper price has increased by 3,000 VND, trading at 142,000 - 144,000 VND/kg.

World pepper prices  today August 22

In the world, the pepper market on August 22 tended to increase again.

Accordingly, the price of Lampung black pepper in Indonesia increased by 0.16%, to 7,537 USD/ton. The price of Muntok white pepper in this country increased by 0.15%; at 8,874 USD/ton.

Malaysia's Kuching ASTA black pepper price remained at 8,500 USD/ton; This country's ASTA white pepper costs 10,400 USD/ton.

For the Brazilian market, the price of ASTA 570 black pepper increased by 1.98%; trading up to 6,300 USD/ton.

In Vietnam, the export price of 500 g/l black pepper is trading at 5,800 USD/ton; and the 550 g/l type is at 6,200 USD/ton. The export price of white pepper remains at 8,500 USD/ton.

Pepper type	Price (Unit: USD/ton)	Change
Lampung black pepper (Indonesia)	7,537	0.16%
Muntok white pepper	8,874	0.15%
Brazilian black pepper ASTA 570	6,300	1.98%
Kuching black pepper (Malaysia) ASTA	8,500	–
ASTA Malaysian white pepper	10,400	–
Black pepper type 500 g/l Vietnam	5,800	–
Black pepper type 550 g/l Vietnam	6,200	–
Vietnamese white pepper	8,500	–

World pepper prices today  increased in Indonesia and Brazil, while other markets remained stable.

Thus, world pepper prices on August 22, 2024 increased slightly compared to yesterday.

Pepper prices today  August 22 in the country

Domestically, the pepper market on August 22 continued to increase sharply compared to yesterday.

Specifically, Dak Lak increased sharply by 3,000 VND, purchasing pepper to 144,000 VND/kg;

With the above increase, Dak Nong pepper price today reached 144,000 VND/kg;

Gia Lai pepper price today increased by 2,000 VND, trading to 142,000 VND/kg;

Dong Nai traders also bought pepper at a price of 142,000 VND/kg, an increase of 1,000 VND;

Ba Ria - Vung Tau pepper price today increased by 2,000 VND, reaching 143,000 VND/kg;

Similarly, Binh Phuoc's pepper trading price increased to 142,000 VND/kg.

Province	Price	Increase/Decrease
Dak Lak	144,000	3,000
Dak Nong	144,000	3,000
Gia Lai	142,000	2,000
Dong Nai	142,000	1,000
Ba Ria – Vung Tau	143,000	2,000
Binh Phuoc	142,000	2,000

Latest domestic pepper price list dated August 22, 2024. Unit: VND/kg

Domestic pepper prices   today  continue to increase by 1,000 - 3,000 VND. With a 3-day increase in a row, the price of this agricultural product has reached 144,000 VND/kg.

According to data from the General Department of Vietnam Customs, Vietnam's pepper exports by the end of May 2024 reached 109,330 tons with a value of 469 million USD, down 16.8% in volume but increased by 15. 4% in value compared to the same period in 2023.

Meanwhile, China's return to purchasing goods also has a strong impact on pepper prices. Specifically, in May 2024, the amount of pepper exported to the Chinese market reached 3,137 tons; increased 4.8 times compared to the previous month and is the highest level achieved in the past 11 months.

Although prices have increased, businesses still have difficulty purchasing raw materials because pepper growers expect prices to continue to increase. Farmers in the Central Highlands and Southeast provinces have high income from durian and coffee, so they have enough financial capacity to store pepper. Many are even willing to store it for up to 2-3 years, not in a hurry to sell it.

Thus, the domestic pepper price on August 22, 2024 is trading around 142,000 - 144,000 VND/kg.

According to Nongnghiep.vn

 

Sea freight rates dropped sharply

Posted onAugust 22, 2024by VPA

22
Aug

Information from the Vietnam Maritime Administration shows that global shipping rates are trending down, creating favorable conditions for export businesses.

In particular, in August 2024, transport routes from Asia to the West Coast of the US and Europe recorded the sharpest decrease, ranging from 20 - 30% compared to the previous month.

Compared to the peak period in September 2021, when the global supply chain was seriously disrupted due to the COVID-19 pandemic,  ocean freight rates  have decreased by up to 44%.

Notably, each week freight prices decrease by an average of 3 - 4%, reflecting a stable downward trend in prices and is expected to continue in the near future.

Mr. Nguyen Thanh Tuan,  director of  Blue Sea Commercial Shipping Company (Phu Nhuan District, Ho Chi Minh City), said that although freight rates have cooled down, they are still high compared to before the pandemic.

Specifically, shipping rates from Europe are around 6,000 - 8,000 USD/40-foot container, from Asia to the West Coast of the US range from 5,000 - 6,000 USD/container. The US East Coast route alone remains high, ranging from 9,000 - 10,000 USD/container.

Similarly, Mr. Nguyen Hoai Chung, CEO of Phattaa - Vietnam's international logistics exchange - also said that freight rates from Asia to North America have dropped to 6,356 USD/40-foot container, down 1.52% compared to with the beginning of August and decreased by 19.28% compared to the previous month.

According to Mr. Chung, adding more ships on the trans  -Pacific trade route  has helped reduce space pressure, especially at ports in the southwest Pacific.

Also according to the Vietnam Maritime Administration, shipping rates will continue to decrease in the near future, after congestion at major ports around the world has been completely resolved.

This is a golden opportunity for  export businesses  to take advantage of lower transportation costs to boost business activities, expand markets and seek strong growth in the last months of the year.

Pepper market on August 20, 2024

 

Pepper market on August 20, 2024: Average increase of 1,000 VND

Posted onAugust 20, 2024by VPA

20
Aug

Pepper price today August 20 is in the range of 139,000 - 141,000 VND/kg. Pepper prices early this morning increased by 1,000 - 2,000 VND/kg. The International Pepper Community adjusted pepper prices in Indonesia on the first day of the week. In the past 7 months of 2024, Brazil's pepper exports decreased by 8%.

In Dak Lak province, today's pepper price was purchased at 141,000 VND/kg, an increase of 1,000 VND/kg.

In Dak Nong province, today's pepper price was purchased at 140,000 VND/kg, an increase of 1,000 VND/kg.

In Gia Lai province, pepper price today is at 139,000 VND/kg, an increase of 1,000 VND/kg.

Meanwhile in Dong Nai, pepper price today is at 139.00 VND/kg, an increase of 1,000 VND/kg.

In Ba Ria - Vung Tau province, pepper price today is at 140,000 VND/kg, an increase of 2,000 VND/kg.

In Binh Phuoc province, today's pepper price was purchased at 139,000 VND/kg, an increase of 1,000 VND/kg.

Pepper prices early this morning increased by 1,000 - 2,000 VND/kg compared to the same time yesterday.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,472 USD/ton, an increase of 0.8%; Brazilian black pepper price ASTA 570 is at 6,175 USD/ton; Kuching (Malaysia) ASTA black pepper price is 8,500 USD/ton.

Muntok white pepper price was 8,798 USD/ton, up 0.8%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam black pepper price is trading at 5,800 USD/ton for 500 g/l type; type 550 g/l at 6,200 USD/ton; White pepper price is at 8,500 USD/ton. IPC adjusted to increase pepper prices in Indonesia on the first day of the week.

Commenting on the market last week, IPC said there were mixed reactions.

Specifically, after 2 weeks of recording increases, domestic and export pepper prices of India and Sri Lanka stabilized last week.

In Southeast Asia, only Indonesian black pepper prices continued to increase since last week. Meanwhile, white pepper prices recorded a decrease when most farmers in this country were in the harvest season.

Malaysian domestic pepper prices recorded a decrease last week. Export prices are stable and do not change.

Brazilian black pepper prices continued to decrease over the past 3 weeks. Meanwhile, prices of Cambodian black pepper and Chinese white pepper continued to be stable and unchanged.

Also according to the International Pepper Community, in the past 7 months of 2024, Brazil's pepper exports decreased by 8%, to about 42 thousand tons, equivalent to 165 million USD.

According to KTĐT.vn

Pepper market on August 14, 2024

 

Pepper market on August 14, 2024: Indonesian and Brazilian pepper prices increased along with Vietnam

Posted onAugust 14, 2024by VPA

14
Aug

Pepper price today August 14 is in the range of 139,000 - 140,000 VND/kg. After a sharp decline at the beginning of the week, domestic pepper prices recovered slightly. In localities where the purchasing price is below the threshold of 140,000 VND/kg, purchasing power also decreased compared to last weekend. IPC also increased pepper prices in Indonesia and Brazil.

Pepper prices early this morning increased by 500 - 1,000 VND/kg compared to the same time yesterday. After a sharp decline at the beginning of the week, domestic pepper prices recovered slightly. In localities where the purchasing price is below the threshold of 140,000 VND/kg, purchasing power also decreased compared to last weekend.

The newly released 2024 status report of the Vietnam Pepper and Spice Association said that, according to Decision No. 431/QD-BNN-BNNPTNT of the Ministry of Agriculture and Rural Development dated January 26, 2024 on approving Approve the project to develop key industrial crops until 2030, in which pepper is planned for the whole country: 80,000 - 100,000 hectares, including the Central Highlands: 60,000 - 70,000 hectares; Southeast: 25,000 – 30,000 hectares; Other provinces: 5,000 - 10,000 hectares (Quang Tri, Quang Binh, Binh Thuan, Binh Dinh, Phu Yen, Kien Giang).

In terms of advantages, pepper is an agricultural crop with a long history of development, associated with the lives of many generations of people in the Central Highlands provinces and has become a concentrated commodity production industry, meeting all conditions. exported to the world market.

The provinces have issued policies to encourage the development of agriculture in general and high-tech agriculture in particular to support production development and increase value, including pepper.

Farmers have experience in intensive farming and pepper production, and scientific and technical advances are gradually being applied: organic pepper production, application of economical irrigation technology, reasonable use of fertilizers... gradually. Steps to bring pepper production towards sustainability and environmental friendliness.

Regarding difficulties, the application of technical procedures for planting, care and harvesting, and application of scientific and technical advances to ethnic minority areas is still limited. Breed structure is not yet rich. The ability to invest in farming and access capital is difficult. Agricultural input prices are high.

There is not much replication of the model. Infrastructure is not guaranteed and is outdated. Production also depends too much on nature. In addition, mechanisms, policies and solutions for sustainable pepper development have not been effectively implemented into actual production.

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,334 USD/ton, an increase of 0.49%; Brazilian black pepper price ASTA 570 was at 6,175 USD/ton, up 1.21%; Kuching (Malaysia) ASTA black pepper price is 8,500 USD/ton.

Muntok white pepper price was 8,635 USD/ton, up 0.5%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam black pepper price is trading at 5,800 USD/ton for 500 g/l type; type 550 g/l at 6,200 USD/ton; White pepper price is at 8,500 USD/ton. IPC increased pepper prices in Indonesia and Brazil.

According to KTĐT.vn

Pepper market on August 12, 2024

 

Pepper market on August 12, 2024: Prices dropped sharply at the beginning of the week

Posted onAugust 12, 2024by VPA

12
Aug

Pepper price today August 12 is in the range of 137,000-138,000 VND/kg, a sharp decrease of 3,000-4,000 VND compared to last weekend.

The average export price of black pepper in 7 months reached 4,568 USD/ton, white pepper reached 6,195 USD/ton, up 32.7% for black pepper and 25% for white pepper respectively compared to the same period last year.

The US is Vietnam's largest pepper export market in 7 months, increasing by 48.4% and accounting for 26.4% of the market share reaching 43,349 tons. Next are the markets: Germany: 10,941 tons, up 97.3%; UAE: 10,897 tons, up 39.2%; India: 8,744 tons, up 39.7%; China ranked fourth with 8,059 tons, down 84.6% over the same period.

Regarding the Chinese market, experts say that it is possible that due to the strong increase in purchases last year and full warehouses, demand in the Chinese market will decrease this year, adding that the economy in China is still difficult. .

Regarding the upward momentum, experts added that for prices to increase, there must be a push from the market and there must be demand. The US and Europe account for nearly 50% of Vietnam's exports and have bought very strongly in the first 6 months of the year. In the last months of the year, if these two markets do not buy much, it may be difficult for prices to increase strongly again as before. This week's market is forecast to recover after falling sharply last week.

Indonesia and Brazil will enter the season, followed by Vietnam. Supply will increase rapidly in the last months of the year. Although it is forecast that in some places the output will not be as high as estimated, or the world supply is still not enough to meet demand, overall pepper prices in the medium term are unlikely to increase strongly.

Last weekend, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,320 USD/ton, an increase of 0.23%; Brazilian black pepper price ASTA 570 was at 6,100 USD/ton, down 4.92%; Kuching (Malaysia) ASTA black pepper price is 8,500 USD/ton.

Muntok white pepper price was 8,970 USD/ton, up 0.25%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam black pepper price is trading at 5,800 USD/ton for 500 g/l type; type 550 g/l at 6,200 USD/ton; White pepper price is at 8,500 USD/ton. IPC continues to increase pepper prices in Indonesia and decrease sharply in Brazil.

According to KTĐT.vn

Pepper market update 12th August 2024 – Week 32.

 

          •        Last week, the pepper price experienced fluctuations with a range of +/- $200/MT in a single day. After a decline, the pepper price quickly rebounded, with a large volume of transactions recorded in the market.

          •        Demand in various markets has improved, especially in the U.S. and the European Union. China has also started to resume purchases.

          •        By the end of the week, the pepper price decreased from 148,000 VND to 146,000 VND, corresponding to a reduction of 1.3%.

In July 2024, Vietnam exported 21,771 tons of pepper, black pepper reached 19,371 tons, white pepper reached 2,400 tons. Total export turnover reached 129.9 million USD, black pepper reached 112.2 million USD, white pepper reached 17.7 million USD, compared to June, export volume decreased by 22.7%, turnover decreased by 7.9% and compared to the same period in July 2023, export volume increased by 43.7% and turnover increased by 128.9%. The average export price of black pepper in July reached 5,861 USD/ton, white pepper reached 7,558 USD/ton, an increase of 15.7% for black pepper and 9.2% for white pepper compared to the previous month.

The United States is still Vietnam's largest export market in the month, accounting for 27.2% reached 5,914 tons, followed by markets: UAE: 2,509 tons, Germany: 1,415 tons, Netherlands: 940 tons, France: 936 tons. Exports to China only reached 606 tons, down 76.5% compared to June.