Pepper
price today, September 16, is around 153,500-155,000 VND/kg. This
week's market will be affected by the FED's interest rate cut in the
policy meeting taking place in the next few days.
Commenting
on the market this week, experts said it will be affected by the FED
cutting interest rates by 0.25 or 0.5 percentage points in the policy
meeting taking place in the next few days.
The
news of interest rate cuts has weakened the USD for a long time,
helping commodity markets to flourish, including pepper. On a global
scale, the International Pepper Community also noted that last week no
country reported a decrease in pepper prices.
Along
with that, increased purchasing power from the markets, and concerns
about supply are still two constant reasons expected to continue to
boost pepper prices this week. Experts predict that if the upward
momentum continues as it has since the beginning of the month, the
domestic market this week could reach 160,000 VND/kg.
By
the end of August, Vietnam exported 183,756 tons of pepper of all
kinds, of which black pepper reached 162,721 tons and white pepper
reached 21,035 tons. Total pepper export turnover reached 881.2 million
USD (of which black pepper reached 754.1 million USD and white pepper
reached 127.1 million USD). The amount of pepper exported has exceeded
last year's output. Meanwhile, there are still 4 months left until the
harvest. This raises concerns about supply in the last months of the
year from Vietnam.
Pepper
prices today, September 10, ranged from 154,000 to 155,000 VND/kg. IPC
adjusted pepper prices in Indonesia in opposite directions while keeping
them stable in other countries at the beginning of the week. Vietnam's
domestic and export pepper prices both increased in the first week of
September 2024.
At
the end of the most recent trading session, the International Pepper
Community (IPC) listed the price of Lampung black pepper (Indonesia) at
7,542 USD/ton, down 0.48%; 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.
Muntok white pepper price is 9,097 USD/ton, up 1.91%; Malaysian ASTA white pepper price is at 10,900 USD/ton.
Vietnam
black pepper prices are trading at 6,600 USD/ton for 500 g/l; 7,000
USD/ton for 550 g/l; and 9,300 USD/ton for white pepper. IPC adjusted
pepper prices in Indonesia in opposite directions while keeping them
stable in other countries at the beginning of the week.
The International Pepper Community commented that the market in the first week of September continued to show mixed reactions.
Specifically,
in the South Asian region, domestic and export pepper prices in India
have been stable since last week. Meanwhile, domestic pepper prices in
Sri Lanka have increased over the past week.
In
Southeast Asia, after two weeks of increases, domestic and
international pepper prices in Indonesia stabilized last week, amid more
inventory in the market after some major producing regions completed
their harvest.
Malaysian
domestic pepper prices continued to decline over the past two weeks.
After remaining stable for four consecutive weeks, the country’s export
prices recorded an increase last week.
Brazilian
black pepper prices continued to increase over the past three weeks.
Meanwhile, Cambodian black pepper and Chinese white pepper prices
remained stable and unchanged. Meanwhile, domestic and export pepper
prices in Vietnam both increased in the first week of September 2024.
Previously,
the Vietnam Pepper and Spice Association said that the average export
price of black pepper in the past 8 months reached 4,712 USD/ton, white
pepper reached 6,326 USD/ton, up 1,270 USD for black pepper and 1,371
USD for white pepper compared to the same period last year. By the end
of August, Vietnam had exported 183,756 tons of pepper of all kinds, far
exceeding the output of this year's harvest.
-Last week, the price of pepper increasing from 156,000 VND to 159,000 VND, corresponding to a 1.92% increase.
-The
demand is very good in various markets such as the EU, Middle East, and
Asian countries, while demand from China has quieted down again
compared to last week after the sharp increase in pepper prices in week
35.
-However, at the end of the week on Saturday and Sunday, demand from China surged again, making the market more active.
-Shipping
rates to the U.S. have been significantly reduced by about $2,000 per
40-foot container in the past week. Other routes such as the EU, Asia,
and Africa have maintained stable shipping rates with little change.
-The
VND continued to strengthen by about 1%, which has led to an increase
in the price of pepper when converted to USD. It is forecasted that the
VND will continue to appreciate as the USD may weaken due to the Fed
lowering interest rates.
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Overall,
pepper prices have increased by about 2,000 - 4,000 VND/kg over the
past week. At the end of the first 8 months of the year, Vietnam's
pepper exports to major markets such as the US, EU, India, UAE... all
increased sharply compared to the same period last year.
In the domestic market
Pepper prices on the weekend fluctuated at 152,000 - 153,000 VND/kg.
However,
in general, pepper prices have increased by about 2,000 - 4,000 VND in
the past week and have increased by 9,000 - 11,000 VND since the end of
August.
Of
which, Ba Ria - Vung Tau and Dong Nai are the two localities with the
strongest price increase last week, both increasing by 4,000 VND, to
153,000 VND/kg.
Pepper
prices in Dak Lak and Dak Nong provinces are also being purchased at
153,000 VND/kg, an increase of 3,000 VND over the past week.
In Gia Lai and Binh Phuoc provinces, the price increased by VND2,000/kg and was traded at VND152,000/kg.
Province/district
(survey area)
Purchase price on September 8 (Unit: VND/kg)
Change from previous day (Unit: VND/kg)
Change compared to the beginning of the week (Unit: VND/kg)
Dak Lak
153,000
-1,000
+3,000
Gia Lai
152,000
-1,000
+2,000
Dak Nong
153,000
-1,000
+3,000
Ba Ria – Vung Tau
153,000
-1,000
+4,000
Binh Phuoc
152,000
-1,000
+2,000
Dong Nai
153,000
-1,000
+4,000
Source: Hoang Hiep compiled from giatieu.com.
On the world market world
According
to data from the International Pepper Community (IPC), black pepper
trading prices in major producing countries did not fluctuate much in
the most recent trading session.
Overall, over the past week, the price of Brazilian black pepper ASTA 570 recorded an increase of up to 16.3%, at 7,500 USD/ton.
Vietnam's 500 g/l and 550 g/l black pepper exports are being traded in the range of 6,600 - 7,000 USD/ton, up 7.7 - 8.2% compared to the beginning of the week.
Similarly, black pepper export prices from Indonesia and Malaysia also increased by 0.7% and 3.5% last week.
Type name
World black pepper price list
September 8 (Unit: USD/ton)
% change from previous day
% change from the beginning of the week
Lampung Black Pepper (Indonesia)
7,578
0
0.7
Brazilian Black Pepper ASTA 570
7,500
0
16.3
Kuching Black Pepper (Malaysia) ASTA
8,800
0
3.5
Vietnamese black pepper (500 g/l)
6,600
0
8.2
Vietnamese black pepper (500 g/l)
7,000
0
7.7
At
the same time of survey, white pepper prices of Indonesia, Malaysia and
Vietnam increased by 4.2%, 4.8% and 5.7% respectively last week.
Type name
World white pepper price list (Unit: USD/ton)
September 8
% change from previous day
% change from the beginning of the week
Muntok White Pepper (Indonesia)
8,855
0
4.2
ASTA Malaysian White Pepper
10,900
0
4.8
Vietnam white pepper
9,300
0
5.7
According
to the Vietnam Pepper and Spice Association, in the first 8 months of
the year, Vietnam exported 183,756 tons of pepper of all kinds, with a
turnover of 881.2 million USD, down 2.1% in volume but up 43% in
turnover compared to the same period last year.
Of
which, black pepper reached 162,721 tons, turnover of 754.1 million
USD; white pepper reached 21,035 tons, turnover of 127.1 million USD.
The
average export price of black pepper in the first 8 months of the year
reached 4,712 USD/ton, white pepper reached 6,326 USD/ton, an increase
of 1,270 USD for black pepper and 1,371 USD for white pepper
respectively compared to the same period last year.
Of
which, the export volume to the US in 8 months reached 51,823 tons, an
increase of 54.3% over the same period last year and nearly equal to the
total export volume of the whole year 2023 (54,271 tons), accounting
for 28.2% of the market share.
Next
are the markets: Germany: 12,021 tons, up 96.3%; UAE: 11,744 tons, up
29.6%; India: 9,086 tons, up 10.2%; China: 8,388 tons, down 84.4%;
Netherlands: 7,503 tons, up 35.9%...
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.
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.
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.
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