Pepper Market September 7, 2024

 

Pepper Market September 7, 2024: Price slightly decreased again

Posted onSeptember 7, 2024by VPA

07
Sep

Pepper price today, September 7, is around 152,000 - 153,000 VND/kg, down slightly by 1,000 VND compared to yesterday.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,578 USD/ton, up 0.24%; the price of Brazilian black pepper ASTA 570 at 7,500 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,800 USD/ton, up 3.41%.

Muntok white pepper price is 8,923 USD/ton, up 0.25%; Malaysian ASTA white pepper price is at 10,900 USD/ton, up 4.59%.

Vietnam black pepper price is traded at 6,600 USD/ton for 500 g/l; 550 g/l at 7,000 USD/ton; white pepper price is at 9,300 USD/ton. IPC increased pepper prices in Southeast Asian countries compared to yesterday.

According to preliminary statistics of the Vietnam Pepper and Spice Association, in August 2024, Vietnam exported 19,399 tons of pepper of all kinds, of which black pepper reached 17,391 tons and white pepper reached 2,008 tons.

Total export turnover reached 117 million USD, black pepper reached 102.0 million USD, white pepper reached 15.0 million USD. Compared to the previous month, export volume decreased by 10.9%, turnover decreased by 9.9% and compared to August 2023, export volume decreased by 1.1% but turnover increased by 59.4%.

The average export price of black pepper in August reached 5,891 USD/ton, white pepper reached 7,462 USD/ton, an increase of 30 USD for black pepper but a decrease of 96 USD for white pepper compared to the previous month.

In August, pepper exports to the US broke an all-time high, with exports reaching 8,474 tons, up 43.3% compared to July and accounting for 43.7% of the export market share. Next are the markets: Germany: 1,080 tons, down 23.7%; UAE: 847 tons, down 66.2%. Exports to China reached only 329 tons, down 45.7% compared to the previous month.

Phuc Sinh was the leading pepper exporting enterprise in August, reaching 2,742 tons, up 12.3% compared to the previous month and accounting for 14.1% of the export market share. Following are the enterprises: Olam Vietnam: 2,218 tons, down 17.5%; Haprosimex JSC: 1,967 tons, up 10.1%; Nedspice Vietnam: 1,718 tons, down 8.9% and Lien Thanh: 1,580 tons, up 35.9%.

In the opposite direction, Vietnam imported 1,491 tons, of which black pepper reached 1,214 tons and white pepper reached 277 tons, with a total import turnover of 8.2 million USD, compared to the previous month, the import volume decreased by 19.6%.

Brazil was the largest pepper supplier to Vietnam with 736 tons, up 808.6% over the previous month, followed by Indonesia and Cambodia. Tran Chau was the largest importer with 669 tons, up 435.2% over July.

According to KTĐT.vn

Pepper Market September 6, 2024

 

Pepper Market September 6, 2024: Price increases again

Posted onSeptember 6, 2024by VPA

06
Sep

Pepper price today, September 6, is around 153,000 - 154,000 VND/kg, an increase of 3,000 - 4,000 VND compared to yesterday. The target of billion-dollar pepper export is within reach.

The increase that started in late August 2024, after nearly a week, is now about 6,000 - 7,000 VND/kg higher than before. More importantly, the domestic increase during the recent holiday has helped export pepper prices increase by 500 USD/ton.

Commenting on the market, experts said that pepper price movements often depend on timing, and short-term increases and decreases can still occur because they are influenced by many factors.

Businesses also commented that pepper prices have decreased in the past few months after peaking mainly due to seasonal factors and the export situation and delivery time of businesses.

Indonesia is in the harvest season, followed by Brazil, and Vietnam will enter its harvest season early next year. However, pepper prices can still be good even at harvest time if the mentality of hoarding and waiting for prices is still common among dealers and farmers.

According to a report by the Ministry of Agriculture and Rural Development, in the first 8 months of 2024, Vietnam exported 185,000 tons of pepper, earning about 891 million USD, a slight decrease of 1.4% in output but a sharp increase of 44.9% in value. Thus, the target of a billion-dollar pepper export industry is within reach.

The average export price of pepper in the first 8 months of this year is estimated at 4,810 USD/ton, a sharp increase of 47% over the same period last year. In August 2024 alone, pepper exports increased by 9.7% in volume and 75.1% in value compared to the same period in 2023, as the average export price increased by 69.6%.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,521 USD/ton; the price of Brazilian black pepper ASTA 570 at 7,500 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 8,855 USD/ton; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam's black pepper price is trading at 6,600 USD/ton for 500 g/l; 550 g/l at 7,000 USD/ton; white pepper price at 9,300 USD/ton. IPC keeps pepper prices in other countries unchanged compared to the previous day.

According to KTĐT.vn

 

Prices increase sharply, Vietnamese businesses sell 'black gold' and earn 900 million USD

Posted onSeptember 4, 2024by VPA

04
Sep

Since the beginning of the year, the export price of "black gold" has increased sharply, helping Vietnamese businesses earn nearly 900 million USD from selling this strong product.

On the first day of September, pepper prices continued to increase, reaching VND144,000-146,000/kg depending on the locality. This price is still quite far from the historical peak of VND180,000/kg in June, but is still about 80% higher than at the beginning of this year and double that of the same period last year.

In the world market, according to data from the International Pepper Community (IPC), at the end of the most recent trading session, the price of Vietnamese black pepper was at 6,100 USD/ton for 500 g/l; 550 g/l was priced at 6,500 USD/ton; the price of white pepper was at 8,800 USD/ton.

The latest report from the Ministry of Agriculture and Rural Development shows that the average export price of pepper - the type of grain considered as "black gold" of Vietnam in the first 8 months of this year is estimated at 4,810 USD/ton, a sharp increase of 47% over the same period last year.

Notably, the price increase of “black gold” has been maintained since 2023. In particular, this year has witnessed a sharp increase in the export price of pepper, from 4,000 USD/ton in January to 5,954 USD/ton in August (average price).

Accordingly, Vietnamese enterprises have “embraced” about 891 million USD thanks to the sale of 185,000 tons of “black gold”. Compared to the same period last year, the export of this item decreased slightly by 1.4% in output but the value increased sharply by 44.9%.

In August alone,  pepper exports  increased by 9.7% in volume and increased sharply by 75.1% in value compared to the same period in 2023, as the average export price increased by 69.6%.

Regarding the export market, the US is still the largest customer, spending 205.3 million USD to buy nearly 43,170 tons of pepper from our country. Compared to the same period last year, pepper exports to this market increased by 47.5% in volume and 74.9% in value.

Among the top 3 largest pepper export markets, Germany and the United Arab Emirates are spending a lot of money to buy this "black gold" from Vietnam.

Specifically, the amount of pepper exported to Germany doubled compared to the same period last year, with export value reaching over 57 million USD, an increase of 152.5%. Pepper exports to the United Arab Emirates also increased by 40.2% in volume and a sharp increase of 113.9% in value.

Vietnam's reduced pepper supply has pushed up global prices of this commodity. Illustration photo: Huchaco

Currently, the amount of pepper exported in the past 8 months has exceeded the output of 170,000 tons of the 2024 harvest. Meanwhile, the inventory from last year carried over to this year is estimated at about 30%, equivalent to 50,000-55,000 tons.

According to the Vietnam Pepper and Spices Association (VPSA), global pepper trade decreased sharply in the first half of this year.

Among the world's five largest pepper exporting countries, Indonesia and India saw their export volumes increase by 48.3% and 34.1% respectively. However, Vietnam and Brazil, the world's two largest pepper producing countries and accounting for the majority of global export market share, saw their exports decline by 6.8% and 6% respectively compared to the same period last year. Therefore, the sharp increase in supply from Indonesia and India still could not offset the decline in Vietnam and Brazil.

Ms. Hoang Thi Lien - President of VPSA said that the decrease in harvest output in Vietnam and Brazil is the main reason for the increase in pepper prices in the world market.

Currently, our country's pepper inventory is not much, so in the last months of this year, the export of this item will be lower than in previous years and will last until about March 2025 when the new harvest season begins. Therefore, the price of this item globally is forecast to continue to increase and stay at a high level.

To meet consumption and production needs, in the past 8 months, Vietnamese businesses have spent about 85 million USD to import pepper, a sharp increase of 34.5% compared to the same period last year. The amount of imported pepper is also forecast to increase because domestic supply is running out.

According to VietnamNet.vn

R

 

Pepper Market September 4, 2024: Prices continue to increase

Posted onSeptember 4, 2024by VPA

04
Sep

Pepper prices today, September 4, are around 152,000 - 153,000 VND/kg. This is the 5th consecutive day of increase in the domestic market. It seems that China's inventory has decreased significantly after a long period of minimal purchases, forcing it to buy in large quantities to compensate.

In the first 7 months of 2024, China's pepper imports from Vietnam reached only 8,059 tons (compared to the normal annual import level of 50,000-57,000 tons from Vietnam, excluding the Covid years). However, last week, demand from China returned with immediate orders in large quantities of 3,000 to 4,000 tons.

China's inventories have fallen significantly after a long period of minimal purchases, forcing it to buy in large quantities to make up for a shortage of raw materials as global pepper output is expected to continue to decline over the next few years.

In addition, there is also strong demand from the Middle East market for orders immediately after selling out cheaper imported stocks earlier this year, making the pepper market more vibrant.

Brazil, the world's second-largest producer and exporter of black pepper, has suffered a crop failure, sending global prices soaring for the remainder of 2024. Pepper supply will lag demand over the next three to five years.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,488 USD/ton, down 0.13%; the price of Brazilian black pepper ASTA 570 at 7,000 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 8,817 USD/ton, down 0.14%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnamese black pepper prices are trading at 6,100 USD/ton for 500 g/l; 6,500 USD/ton for 550 g/l; and 8,800 USD/ton for white pepper. IPC continues to reduce Indonesian pepper prices for the third consecutive day.

According to KTĐT.vn

 

 

 

 

Vietnam pepper exports to top 1 billion USD in 2024

Vietnam could ship more than 1 billion USD worth of pepper abroad for the whole 2024 on the back of high global demand and limited supply, according to the Vietnam Pepper and Spice Association (VPSA).

September 1, 2024 at 03:50:19

 

 

Hanoi (VNA) – Vietnam could ship more than 1 billion USD worth of pepper abroad for the whole 2024 on the back of high global demand and limited supply, according to the Vietnam Pepper and Spice Association (VPSA).

The pepper industry, the association said, is on track to return to the "billion-dollar" club, with export revenues hitting 764.2 million USD as of July 30.

During the seven-month span, more than 164,300 tonnes of pepper was sold to foreign markets at an average export price of 4,568 USD per tonne for black pepper and 6,195 USD per tonne for white pepper, up 32.7% and 25%, respectively, year on year.

The US was the largest purchaser, followed by Germany, the United Arab Emirates (UAE), and India.

Brazil, the world’s second biggest black pepper producer and exporter, has suffered crop failure, driving global prices skyward for the remaining months of 2024. Production in Vietnam, Malaysia and Indonesia is also forecast to fall sharply due to the impacts of El Nino.

In the next three to five years, pepper supply will lag behind demand.

Domestic pepper prices in July fetched 150,000 VND (over 6 USD) per kilogramme, rising 82.9% against January, and 120.6% year-on-year.

The VPSA forecast a fluctuation in the pepper prices in the coming time due to formidable challenges in the market.

According to a survey conducted by the VPSA in three Central Highlands localities in July, along with extreme weather caused by climate change, farmers chose durian and coffee production over pepper as the first two fetch higher prices.

Vietnam’s key pepper planting areas of Gia Lai, Dak Lak and Dak Nong in the Central Highlands, and Binh Phuoc, Dong Nai and Ba Ria – Vung Tau in the Southeastern region slashed cultivation acreage by 50% as compared to peak cultivation times./.

VNA

 

Pepper market update 2nd Sept 2024 – Week 35.

 

We would like to send you a quick highlight

 

• Last week, the price of pepper gradually recovered, increasing from 148,000 VND to 156,000 VND, corresponding to a 5,4% increase.

• The strong demand from the Chinese and Middle Eastern markets has led to a rapid increase in pepper prices recently.

 

In the first seven months of 2024, China’s imports of Vietnamese pepper amounted to only 8,059 tons (compared to the usual annual imports of 50,000-57,000 tons from Vietnam, excluding the Covid years). However, last week, demand from China has returned with immediate orders for large quantities ranging from 3,000 to 4,000 tons. It seems that China’s inventory has significantly decreased after a long period of minimal purchases, necessitating large purchases to compensate for the shortage of raw materials as global pepper production is expected to continue declining over the next few years.

 

The domestic pepper market in China also recorded a rapid increase, rising from 47 RMB to 51 RMB within just two days, corresponding to an increase of 8.5% in a very short period.

 

Additionally, there is also strong demand from the Middle Eastern market for immediate orders after selling off the cheaper stock imported earlier this year, making the pepper market more dynamic.

 

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

 

https://drive.google.com/file/d/1MrPT0olI4RDZwUTuZeGAWKLWqYKStr7U/view?usp=sharing

 

Pepper Market September 3, 2024

 

Pepper Market September 3, 2024: Domestic prices increased for the 4th day, Brazilian pepper prices increased sharply

Posted onSeptember 3, 2024by VPA

03
Sep

Pepper prices today, September 3, are in the range of 151,000 - 152,000 VND/kg. This is the fourth consecutive day of increase in the domestic market. Meanwhile, IPC continues to reduce pepper prices in Indonesia, but increases sharply in Brazil.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,498 USD/ton, down 0.41%; the price of Brazilian black pepper ASTA 570 at 7,000 USD/ton, up 7.86%; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 8,829 USD/ton, down 0.41%; Malaysian ASTA white pepper price is at 10,400 USD/ton.

Vietnam black pepper prices are trading at 6,100 USD/ton for 500 g/l; 6,500 USD/ton for 550 g/l; white pepper prices are at 8,800 USD/ton. IPC continues to reduce pepper prices in Indonesia, but increases sharply in Brazil.

According to the Import-Export Department (Ministry of Industry and Trade), global pepper supply is supplemented as Indonesia enters a new harvest season, starting in July. However, Brazil, the world's second largest black pepper producer, is facing continuous crop failures due to drought.

According to experts, signs of supply shortage compared to demand will continue to be recorded in the market in the coming time. In addition, rapidly increasing freight costs and port congestion in Asia also affect prices in import markets, and may cause shipping delays, causing prices to increase in the medium and long term.

Meanwhile, commodity markets are betting on the Fed cutting interest rates for the first time in years this month. Investors are expecting the Fed to cut rates by 0.25 percentage points each at its next two meetings in September and November, followed by a larger cut in December — say, 0.5 percentage points.

The Fed’s interest rate cut is expected to stimulate the recovery of the US economy, leading to a recovery in orders and exports from Vietnam to the above market. At that time, the Vietnamese economy will “benefit” from this policy reversal by the Fed.

According to KTĐT.vn