Pepper Market November 7, 2024

 

Pepper Market November 7, 2024: Price increases again

Posted onNovember 7, 2024by VPA

07
Nov

Pepper prices today (November 7) continued to increase again to around 138,000 - 139,000 VND/kg. According to VPSA, by the end of October, Vietnam had exported 219,387 tons of pepper with a total turnover of over 1.1 billion USD, down 1.9% in volume but up 48% in turnover.

 

In the world market

Updated from the International Pepper Community (IPC), in the most recent trading session,  the price of   Indonesian Lampung black pepper continued to extend its downward trend to 6,634 USD/ton, down 0.47% compared to the previous trading session.

Elsewhere, pepper prices remained stable. Of which, Brazilian pepper ASTA 570 was flat at $6,300/ton after falling the previous day; Malaysian Kuching black pepper was priced at $8,500/ton.

 Vietnam's  export  prices of 500 g/l and 550 g/l black pepper remain stable at around 6,500 - 6,800 USD/ton.

 

 

Update pepper information

According to preliminary statistics from the Vietnam Pepper and Spice Association (VPSA), in October, Vietnam exported 18,493 tons of pepper of all kinds with a turnover of 120.2 million USD. The export volume increased by 7.9% compared to the previous month, but decreased by 3.6% compared to the same period last year.

The average export price of black pepper in the month reached 6,284 USD/ton, down 28 USD compared to the previous month, while the price of white pepper reached 8,029 USD/ton, up 191 USD.

The US remained the largest export market in October, accounting for 27.7% of total exports, reaching 5,128 tons, down 8.5% compared to September. The following markets were Hong Kong: 1,784 tons, UAE: 1,382 tons, the Netherlands: 1,000 tons and Germany: 960 tons.

Meanwhile, Olam was still the largest exporter last month, reaching 2,595 tons, accounting for 14.0%, followed by the following enterprises: Nedspice Vietnam: 1,878 tons, Phuc Sinh: 1,605 tons, Tran Chau: 1,397 tons and Lien Thanh: 1,202 tons.

By the end of October, Vietnam had exported a total of 219,387 tons of pepper of all kinds with a turnover of more than 1.1 billion USD, a slight decrease of 1.9% in volume but a sharp increase of 48% in turnover compared to the same period last year.

Of which, black pepper exports reached 193,892 tons, white pepper reached 25,495 tons (black pepper decreased by 3.3% while white pepper increased by 10.8%), corresponding to turnover of 881.6 million USD and 162.6 million USD.

The average export price of black pepper in 10 months reached 4,971 USD/ton, an increase of 1,528 USD/ton and white pepper reached 6,626 USD/ton, an increase of 1,671 USD/ton compared to the same period in 2023.

Regarding export markets, the US is the largest export market for Vietnamese pepper after 10 months, accounting for 28.5% reaching 62,553 tons, up 46.8% over the same period last year.

Next are the markets: UAE: 14,540 tons, accounting for 6.6%, up 45.0%; Germany: 13,737 tons, accounting for 6.3%, up 77.2%; India: 9,428 tons, accounting for 4.3%, down 10.5% and the Netherlands: 9,295 tons, accounting for 4.2%, up 41.2% over the same period. China is Vietnam's 6th largest export market, reaching 9,252 tons, but compared to the same period, the export volume decreased by 84%.

Olam Vietnam is the largest exporter in the first 10 months of 2024, reaching 23,160 tons, accounting for 10.6% and increasing by 51.1% over the same period. Next are the following enterprises: Phuc Sinh: 20,118 tons, accounting for 9.2%, increasing by 58.2%; Nedspice Vietnam: 17,014 tons, accounting for 7.8%, increasing by 10.0%; Haprosimex JSC: 16,002 tons, accounting for 7.3%, increasing by 77.5% and Tran Chau: 14,031 tons, accounting for 6.4% and decreasing by 0.8%...

According to VietnamBiz.vn

 

Pepper Market on November 6, 2024

 

Pepper Market on November 6, 2024: Price drops by 4,000-5,000 VND

Posted onNovember 6, 2024by VPA

06
Nov

Pepper price today (November 6) fluctuates at 135,000 - 136,000 VND/kg, down sharply by 4,000 - 5,000 VND compared to yesterday.

In the world market

Updated from the International Pepper Community (IPC), in the most recent trading session, the price of Indonesian Lampung black pepper continued to decrease slightly by 6 USD/ton compared to the previous trading session, down to 6,665 USD/ton.

Similarly, the price of Brazilian pepper ASTA 570 decreased by 1.59% (100 USD/ton), down to 6,300 USD/ton.

Kuching Malaysia black pepper remained stable at USD 8,500/ton.

 Vietnam's  export  prices of 500 g/l and 550 g/l black pepper remained stable at around 6,500 - 6,800 USD/ton.

Type name	World black pepper price list
	November 6 (Unit: USD/ton)	% change from previous day
Lampung Black Pepper (Indonesia)	6.665	-0.09
Brazilian Black Pepper ASTA 570	6,300	-1.59
Kuching Black Pepper (Malaysia) ASTA	8,500	0.0
Vietnamese black pepper (500 g/l)	6,500	0.0
Vietnamese black pepper (500 g/l)	6,800	0.0

At the same time of survey, the price of Indonesian Muntok white pepper also decreased by 8 USD/ton, down to 9,125 USD/ton.

Meanwhile, the price of white pepper from Vietnam and Malaysia remained stable at 9,500 USD/ton and 11,000 USD/ton.

Type name	World white pepper price list
	November 6 (Unit: USD/ton)	% change from previous day
Muntok Indonesian White Pepper	9.125	-0.09
ASTA Malaysian White Pepper	11,000	0.0
Vietnam white pepper	9,500	0.0

Update pepper information

According to Nong Nghiep Newspaper, after many days of being affected by heavy rain caused by storm No. 6, a series of pepper gardens of people in Gio An commune, Gio Linh district, Quang Tri province were flooded.

After the water receded, many underground water sources continuously appeared, causing the pepper plant roots to be at risk of being flooded and invaded by fungi. This situation appeared after the historic flood in October 2020, causing dozens of hectares of pepper in Gio An commune to die and be affected.

Mr. Le Phuoc Hieu, Vice Chairman of Gio An Commune People's Committee, said that the water vein that appeared in 2020 caused nearly 20 hectares of pepper in the locality to have yellow leaves, rotten roots and die completely; more than 60 hectares of pepper were affected in productivity and quality, and it took a long time to recover.

At this time, the entire Gio An commune has identified 3 hectares of pepper showing symptoms of yellowing, wilting, and leaf loss, with a very high risk of death. If it continues to rain, the area of ​​dead pepper could reach 10 hectares.

According to Mr. Hieu, people are currently actively saving pepper gardens. Some immediate tasks include creating fences to prevent water from flowing into the pepper gardens; creating drainage ditches around the pepper gardens and between the pepper rows; and mounding the pepper plants to reduce the risk of pepper dying. Some households are cutting down and pruning choai trees to create ventilation for the pepper gardens to drain water quickly.

“Pepper is the main crop in Gio An commune. This year, pepper prices have increased, people are very excited, but now there is a risk of great losses. If the measures people have taken are still ineffective, they will be forced to switch to other crops. This is very regrettable because Gio An currently has dozens of hectares of very valuable organic pepper,” Mr. Hieu shared.

According to VietnamBiz

Pepper Market on November 4, 2024

 

Pepper Market on November 4, 2024: Stable at the beginning of the week, pepper exports of Dak Lak province skyrocketed

Posted onNovember 4, 2024by VPA

04
Nov

Pepper prices today  (November 4) are stable at around 140,000 - 141,000 VND/kg. By the end of the third quarter, pepper exports from Dak Lak province reached more than 31,000 tons with an average price of 6,239 USD/ton, up 83.3% and 67.5% respectively over the same period.

Update pepper price

In the domestic market

See more:  Pepper price today November 3

Pepper prices  today have no new fluctuations, fluctuating at 140,000 - 141,000 VND in localities.

Accordingly,  pepper prices   in Dak Lak, Dak Nong, Ba Ria - Vung Tau and Dong Nai provinces are being purchased at 141,000 VND/kg.

In Gia Lai and Binh Phuoc provinces, the transaction price is lower at 140,000 VND/kg.

Update pepper information

According to  Dak Lak Newspaper , along with the country's export growth, the export situation of goods in the province continues to achieve many positive results. The total export turnover of the whole province in the first 9 months of 2024 reached more than 1.4 billion USD (an increase of 29% over the same period last year).

Besides coffee, pepper is a commodity with high growth rate in both volume and export price of the province. By the end of the third quarter of 2024, pepper export of Dak Lak province reached more than 31,000 tons with an average price of 6,239 USD/ton, up 83.3% and 67.5% respectively over the same period last year.

As a leading enterprise in exporting pepper and coffee, the export turnover of Dak Lak 2-9 Import-  Export  Company Limited  has also increased sharply in recent times. Particularly for pepper, the unit exported 12,238 tons of pepper, earning over 59.7 million USD (up 278% over the same period).

Currently, the prices of agricultural products are still high, which is a positive signal for the province's export turnover in the last months of the year. At this time, the business community is making every effort to complete the goals and plans set for the whole year 2024.

However, many export enterprises in the province also shared that although export turnover has increased sharply in recent times, they also face many difficulties in the production and business process.

For example, the high price of agricultural products, especially coffee and pepper, has caused difficulties for export enterprises in purchasing raw materials. Many orders have suffered heavy losses when they have to buy at high prices to have goods to deliver to partners.

According to VietnamBiz.

 

• Vietnamnet global

04/11/2024   09:30 (GMT+07:00)

Domestic supply struggles drive Vietnam’s pepper imports to $108 million

Facing limited domestic output and high global prices, Vietnamese companies imported significant quantities of pepper, totaling VND 2.7 trillion ($108 million) in the first 10 months of 2024.

Limited domestic supply has driven pepper prices up. Photo by Minh Khang

According to preliminary statistics, over the past 10 months, enterprises have disbursed $108 million to import pepper. This marks a significant 38.2% increase compared to the same period last year.

Most of the imported pepper comes from Brazil, Indonesia, and Cambodia.

Phan Minh Thong, Chairman of Phuc Sinh Joint Stock Company, stated that Vietnam’s pepper industry is benefiting from high export prices due to limited supply.

“This year, pepper farmers have enjoyed higher selling prices. On the other hand, export companies have struggled to buy sufficient domestic pepper, which is one reason Phuc Sinh has imported significant amounts from Brazil and Indonesia,” Thong explained.

The main reasons include reduced domestic production, farmers holding back supplies to speculate, and prolonged droughts exacerbating the scarcity of local pepper.

On the other hand, the Ministry of Agriculture and Rural Development (MARD) reported that in the first 10 months of 2024, Vietnam exported about 220,300 tons of pepper, with an estimated value of $1.12 billion. Although the export volume decreased by 2.3% compared to the same period last year, the value surged by 48.2%.

The average export price of pepper over the 10 months of 2024 was estimated at $5,084 per ton, up 51.7% from the same period in 2023.

The main export markets include the U.S., Germany, and the United Arab Emirates (UAE), which together accounted for 44.2% of Vietnam’s “black gold” export value over the first 9 months of 2024. Notably, exports to Germany increased by 2.4 times compared to last year.

Tam An

Pepper Market on November 3, 2024

 

Pepper Market on November 3, 2024: Decreased by 2,000 - 2,500 VND last week

Posted onNovember 3, 2024by VPA

 

 

Pepper prices today  (November 3) fluctuated at 140,000 - 141,000 VND/kg, down 2,000 - 2,500 VND/kg over the past week. In the past 10 months alone, businesses spent 108 million USD to import pepper, a sharp increase of 38.2%.

In the domestic market

See more:  Pepper price today November 2

Pepper price  today, November 3, slightly decreased by 200 VND/kg in Dak Nong province and remained stable in other localities.

Overall, last week,  domestic  pepper prices  decreased by 2,000 - 2,500 VND/kg, fluctuating between 140,000 - 141,000 VND/kg.

Of which, pepper prices in Dak Nong and Dak Lak provinces decreased by VND2,500/kg during the week, down to VND141,000/kg.

Similarly, pepper prices in Ba Ria - Vung Tau and Dong Nai provinces are being traded at 141,000 VND/kg, down 2,000 VND/kg.

Pepper prices in Gia Lai and Binh Phuoc provinces also decreased by VND2,000/kg, down to VND140,000/kg.

The market continues to be under pressure as demand slows, while sellers seek to raise capital to invest in coffee, which is currently in harvest season. However, limited supply has helped pepper prices remain 72-76% higher than at the beginning of the year and double the same period last year.

n the world market

Update from the International Pepper Community (IPC), last week, world pepper prices were quite stable and only decreased in Indonesia.

Specifically, the price of Lampung Indonesian black pepper is listed at 6,683 USD/ton, down 0.6% last week.

Meanwhile, pepper prices at other suppliers remained stable. Specifically, Kuching Malaysian black pepper was priced at USD 8,500/ton, while Brazilian ASTA 570 black pepper was traded at USD 6,400/ton.

Vietnam's 500 g/l and 550 g/l black pepper  for export   is offered at USD 6,500 - 6,800/ton.

Update pepper information

According to preliminary statistics, in the past 10 months alone, businesses spent 108 million USD (equivalent to 2,700 billion VND) to  import   pepper. Compared to the same period last year, imports of this item increased sharply by 38.2%.

In particular, businesses mainly import pepper from Brazil, Indonesia and Cambodia.

Mr. Phan Minh Thong - Chairman of the Board of Directors of Phuc Sinh Joint Stock Company, said that the Vietnamese pepper industry is benefiting from high export prices due to limited supply.

Accordingly, this year pepper farmers benefited from the high selling price. On the contrary, export enterprises could not buy much domestic pepper. This is also part of the reason why Phuc Sinh had to import a lot of pepper from Brazil and Indonesia this year.

The reason is that, due to the decrease in output, people are holding back pepper for speculation. Along with that, the prolonged drought has made the domestic pepper supply increasingly difficult.

On the other hand, the Ministry of Agriculture and Rural Development said that in the first 10 months of 2024, Vietnam exported about 220,300 tons of pepper, with an estimated value of 1.12 billion USD. Although the volume of pepper exported decreased by 2.3% compared to the same period last year, the value increased sharply by 48.2%.

The average export price of pepper in the first 10 months of 2024 is estimated at 5,084 USD/ton, an increase of 51.7% over the same period in 2023.

In terms of markets, the US, Germany and the United Arab Emirates (UAE) are the three largest customers, accounting for 44.2% of the export value of "black gold" of our country in the first 9 months of 2024. Of which, exports to the German market increased 2.4 times compared to the same period last year, according to  vietnamnet .

According to VietnamBiz.vn

 

 

Pepper Market on November 1, 2024: Market plummets

Posted onNovember 1, 2024by VPA

01
Nov

Pepper prices today (November 1) fluctuated between 141,000 - 142,500 VND/kg, down sharply by 1,000 - 1,500 VND compared to yesterday. Pepper is the agricultural product with the strongest export growth in the first 10 months of the year, reaching 1.12 billion USD, up 48% over the same period last year.

In the world market

Updated from the International Pepper Association (IPC), in the most recent trading session, the price of Indonesian Lampung black pepper continued to increase slightly by 0.16% compared to the previous trading session, listed at 6,691 USD/ton.

Meanwhile, pepper prices at other suppliers remained stable. Specifically, Kuching Malaysian black pepper was priced at USD 8,500/ton, while Brazilian ASTA 570 black pepper was traded at USD 6,400/ton.

Vietnam's 500 g/l and 550 g/l black pepper  for export   is offered at USD 6,500 - 6,800/ton.

---

Lampung Black Pepper (Indonesia)	6,691
Brazilian Black Pepper ASTA 570	6,400
Kuching Black Pepper (Malaysia) ASTA	8,500
Vietnamese black pepper (500 g/l)	6,500
Vietnamese black pepper (500 g/l)	6,800

-----

Update pepper information

According to the Ministry of Agriculture and Rural Development, pepper is the agricultural product with the strongest export growth in the first 10 months of 2024, reaching 1.12 billion USD, up 48% over the same period last year.

Thus, after only 10 months, this industry has soon surpassed the 1 billion USD mark for the first time in 6 years.

This impressive growth momentum comes from high pepper prices due to a decline in global supply while demand recovers strongly in major markets, especially the US and EU.

Data from the European Statistical Office (Eurostat) shows that in the first 8 months of 2024, the EU  imported   44,870 tons of pepper from non-bloc markets, worth nearly 216 million EUR, up 33.3% in volume and 49.5% in value over the same period last year.

Of which, Vietnam is the largest pepper supplier to the EU, with imports reaching over 29,736 tons, worth 138.3 million EUR, up 41.8% in volume and 66.5% in value.

Vietnam's pepper market share in the EU's total imports from extra-bloc markets accounted for 66.3% of the total volume and 63% of the total value in the first 8 months of 2024.

According to data from the US International Trade Commission, in the first 8 months of the year, the world's largest importing country bought 63,294 tons of pepper of all kinds, worth 306.9 million USD, up 37% in volume and 44.8% in value over the same period last year.

Of which, Vietnam is the largest pepper supplier to the US with a volume of 49,277 tons, up 35.4% over the same period and accounting for nearly 78% of the market's import capacity.

According to VietnamBiz.vn

Pepper Market on October 31, 2024

 

Pepper Market on October 31, 2024: Indonesia increases again, domestic pepper crop is at risk

Posted onOctober 31, 2024by VPA

October 31

Pepper prices today, October 31, range from 143,000 to 144,500 VND/kg. Domestically, next year's harvest is forecast by some sources to remain the same or increase slightly, fluctuating between 170,000 and 180,000 tons. The harvest may be delayed due to weather.

In this context, pepper prices are not expected to fluctuate much. The driving force for strong growth last season was the lack of demand from China. According to statistics from the International Pepper Community, in recent months, this market has increased imports from other countries.

Domestically, next year's harvest is forecast by some sources to remain the same or increase slightly, fluctuating between 170,000 - 180,000 tons. Harvest time may come later due to weather.

However, in late October 2024, the press reported on the risk of many flowers falling off, resulting in low fruit set rates and a high risk of crop failure in Ba Ria - Vung Tau.

According to VOV, many pepper farmers in Chau Duc, Xuyen Moc districts and Phu My town, Ba Ria - Vung Tau province said that this year the rain came late, the hot and dry weather and low humidity were not favorable for pepper to bloom.

Mr. Tuyen, who owns nearly 1 hectare of pepper, in Binh Ba commune, Chau Duc district, said that the weather this year is unfavorable, so the productivity is not as good as last year. Meanwhile, pepper harvesting workers are scarce, so the rental price is also high. If the workers do it themselves, it will be more convenient.

“This year’s pepper yield is not as good as last year’s, and it is difficult to find workers because everyone is working for the company. Luckily, my family’s pepper garden has 4 workers to pick pepper and will be harvested by the end of this month. This year’s yield is not as good as last year’s, and the price is higher than last year’s. If the garden owner joins in the harvest, it will be more favorable,” Mr. Tuyen told VOV.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,680 USD/ton, up 0.18%; the price of Brazilian black pepper ASTA 570 at 6,400 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 9,144 USD/ton, down 0.17%; Malaysian ASTA white pepper price is at 11,000 USD/ton.

Vietnam black pepper price is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price is at 9,500 USD/ton. IPC increases Indonesian pepper price again.

According to KTĐT.vn