Pepper Market on December 12, 2024

 

Pepper Market on December 12, 20224: Price unexpectedly dropped by 2,000 VND

Pepper prices today (December 12) unexpectedly dropped by 2,000 VND. In the international market, pepper prices from Brazil and Indonesia both dropped. The US spent 409.16 million USD to buy pepper in the first 10 months of the year, mainly imported from Vietnam.

 

In the world market

According to an update from the International Pepper Association (IPC), at the end of the most recent trading session, the price of Indonesian Lampung black pepper continued to decrease slightly by 0.19% (13 USD/ton) compared to the previous trading session, down to 6,822 USD/ton.

Similarly, the price of Brazilian black pepper ASTA 570 also decreased by 0.4% (25 USD/ton), down to 6,250 USD/ton.

Meanwhile, the price of Kuching black pepper from Malaysia remained stable at USD 8,200/ton. The  export  price of 500 g/l and 550 g/l black pepper  from Vietnam was around USD 6,300 – 6,600/ton.

At the same time of survey, the price of Indonesian Muntok white pepper decreased by 0.2% (18 USD/ton), down to 9,115 USD/ton.

Meanwhile, Vietnamese white pepper and Malaysian ASTA white pepper remained unchanged at USD 9,400/ton and USD 10,400/ton.

 

Update pepper information

Figures from the US International Trade Commission (USITC) show that in October, the US imported  7,211   tons of pepper of all kinds from the world, down 26.4% compared to the previous month but up 21% compared to the same period last year.

Accumulated from the beginning of the year to the end of October, pepper imports of the world's leading consumer country reached 80,298 tons, worth 409.16 million USD, up 40.9% in volume and 56.6% in value over the same period last year.

Of which, Vietnam continues to be the largest pepper supplier to this market, accounting for 77.4% of total pepper imports into the US with a volume of 62,158 tons, worth 314.4 million USD, up 40.7% in volume and 62.5% in value over the same period last year.

In addition, the amount of pepper imported by the US from other leading supplying markets also increased in the first 10 months of the year, such as: India reached 6,359 tons, up 25% and accounting for 7.9% of the market share; Indonesia reached 6,046 tons, up 90.3% and accounting for 7.5%; Brazil reached 3,178 tons, up 73.8% and accounting for 4%...

US pepper imports have rebounded sharply after two consecutive years of decline due to cooling  inflation   and loose monetary policy, leading to a recovery in demand.

In addition, importers also increased their stockpiles due to concerns about changes in economic policies after the US presidential election.

US President-elect Donald Trump plans to raise import taxes and cut taxes on individuals and businesses – as he did in his previous term. During his campaign, Trump vowed to impose a 10-20% import tax on all goods entering the US. The figure for China alone is 60-100%.

Currently, US importers are stepping up imports of goods before Mr. Donald Trump returns to the White House.

According to VietnamBiz.vn

 

Pepper Market on December 3, 2024

 

Pepper Market on December 3, 2024: Shocking price drop in all provinces

Pepper prices today, December 3, are around 142,000 - 143,000 VND/kg, down sharply by 4,000 - 5,000 VND in key pepper growing provinces. IPC adjusted the price of Indonesian pepper in opposite directions while it decreased in Malaysia. It is estimated that pepper exports could reach 1.4 billion USD this year. This is a new record for the industry.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,679 USD/ton, up 0.78%; the price of Brazilian black pepper ASTA 570 at 6,150 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,300 USD/ton, down 1.2%.

Muntok white pepper price is 9,115 USD/ton, down 0.31%; Malaysian ASTA white pepper price is at 10,500 USD/ton.

Vietnam black pepper price is traded at 6,200 USD/ton for 500 g/l; 550 g/l at 6,500 USD/ton; white pepper price is at 9,400 USD/ton. IPC adjusted the price of Indonesian pepper in the opposite direction while it decreased in Malaysia.

Ms. Hoang Thi Lien - President of the Vietnam Pepper and Spice Association (VPSA), estimated that Vietnam's pepper exports could reach 1.4 billion USD this year. This is a new record for the industry. The result is that recently, pepper prices have been in an increasing cycle and are currently maintaining a level nearly double that of previous years.

Currently, the country has more than 115,000 hectares of pepper and spice crops, mostly concentrated in the South Central Coast - Central Highlands region with more than 75,300 hectares. The pepper industry is facing many challenges. Among them are climate change, shrinking area, investment costs in irrigation and disease prevention to maintain productivity... which have a significant impact on competitiveness.

Currently, according to experts, pepper prices have passed the decline cycle and are starting an increase cycle due to a decrease in supply. However, due to the low purchasing pressure at the beginning of the season, farmers should not be too eager to sell pepper early, especially should not borrow capital to store pepper to avoid risks due to market fluctuations.

According to VietnamBiz.vn

Pepper Market November 27, 2024: Vietnamese pepper dominates the US market

 

Pepper Market November 27, 2024: Vietnamese pepper dominates the US market

Pepper prices today, November 27, range from 141,000 to 142,000 VND/kg, up 1,000 VND compared to yesterday. Vietnam is the largest pepper supplier to the US market, accounting for 77.8%, reaching 56,820 tons, up 42.9%; followed by India, accounting for 7.8%, reaching 5,699 tons, up 27.5%.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,596 USD/ton, down 0.42%; the price of Brazilian black pepper ASTA 570 at 6,050 USD/ton, up 50 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,400 USD/ton.

Muntok white pepper price is 9,101 USD/ton, down 0.42%; Malaysian ASTA white pepper price is at 10,500 USD/ton.

Vietnamese black pepper prices are trading at 6,200 USD/ton for 500 g/l; 6,500 USD/ton for 550 g/l; and 9,400 USD/ton for white pepper. IPC adjusted down Indonesian pepper prices right after the increase at the beginning of the week.

The International Pepper Community commented that the market last week showed mixed reactions when only domestic black pepper prices in Sri Lanka continued to record increases.

Indian domestic and export pepper prices recorded a decline last week.

As the Indonesian Rupiah depreciated by 1% against the USD (IDR 15,875/USD), both domestic and export pepper prices recorded a decrease last week.

Both domestic and export pepper prices in Malaysia continued to decline since last week, partly due to the impact of the 2% depreciation of the Malaysian Ringgit against the USD (MYR 4.47/USD).

Prices of Brazilian black pepper as well as Chinese white pepper recorded a decrease last week. Meanwhile, prices of Cambodian black pepper were stable.

According to the Vietnam Pepper and Spices Association, in the first 9 months of 2024, the US imported 73,080 tons of pepper, with a total import turnover of 376.4 million USD. Compared to the same period last year, the import volume increased by 43.2% and the turnover increased by 56.1%.

Vietnam is the largest pepper supplier, accounting for 77.8%, reaching 56,820 tons, up 42.9%; followed by India, accounting for 7.8%, reaching 5,699 tons, up 27.5%. Indonesia and Brazil ranked 3rd and 4th, accounting for 7.1% and 4.2%, reaching 5,174 tons and 3,054 tons, up 88.4% and 88.8% over the same period in 2023.

According to KTĐT.vn

Pepper Market November 25, 2024 - Update pepper information

 

Pepper Market November 25, 2024: Prices increased slightly at the beginning of the week

Posted onNovember 25, 2024by VPA

November 25

Pepper prices today (November 25) fluctuated between 140,000 - 141,000 VND/kg, a slight increase on the first day of the new week.

 

Update pepper information

In a recent report, Ptexim said demand remained weak in major markets such as the US, EU, Middle East and China.

 The ongoing coffee  harvest season  attracts investors’ attention and capital, which could cause cash flow to shift away from pepper. This competition for investment could lead to a reduction in focus on pepper production and trading, contributing to the already recorded price decline.

In 2024, Vietnamese coffee prices are also at a good level and this is Vietnam's main harvest season. At the same time, this is also the time when countries around the world focus on buying coffee from Vietnam.

However, pepper inventories have been sharply reduced, with current stocks being held mainly by a small number of dealers and import-export companies  .  Therefore, Ptexim predicts that the upcoming market trend could witness significant volatility, especially as inventories are low and there are signs that the upcoming crop will be reduced.

According to recent surveys, Ba Ria – Vung Tau, one of the main pepper growing areas in Vietnam, has recorded a sharp decline in pepper production of about 50%. This severe decline is attributed to many factors, of which climate change is the most important cause. Unpredictable weather patterns, including irregular rainfall and extreme temperatures, have negatively affected the growth and productivity of pepper plants.

Tariffs proposed by US President-elect Donald Trump could encourage US importers to boost purchases before the tariffs are imposed, which could lead to a sharp increase in container shipping rates.

The urgent and increased demand for imports is likely to cause a sharp increase in ocean freight costs in 2025. However, by 2026, we could see a significant decline in these costs as the US works to reduce its inventories.

According to VietnamBiz.vn

 

Madagascar Local market Clove update: 13th November, 2024

 

Madagascar Local market Clove update: 13th November, 2024:-
Trend continues bullish. Stock availability is limited in the sense, sellers, local traders and farmers are not ready to sell; they hold back stock, asking higher and higher price 
This week from 9th to 12th - price again increased by Ariary 1000 per kg [ = USD 220 per MT]
Local traders who have stock with them demand 32000 to 34000 per KG raw material at their depot [ raw material with moisture 27% to 30% ] ! Market seems crazy !! What is next ?
As usual every year, now in Madagascar Litchi season starting.
Litchi export season is only for one month - only December.
Therefore, many people will turn to Litchi now. Large scale exporters of Clove also will turn to Litchi - as it is a short time crop. This would create reduced activity in Clove. All available money will move into Litchi business. At this time, it is expected, as like every year,
Clove demand in local market would come down [might come down - a possibility based on past years happening] That would probably be the correction time.
Secondly, Xmas and New Year celebration is very important for Malagasy people.
They need huge amount of cash for these celebrations. I
t is the time of family togetherness, and spending. Therefore, in December, ""marginal"" farmers, stockists, and local traders would need liquid cash - for that they would be ready to sell Clove whatever price possible to get from the market. This would increase availabiltiy in the market.
These are the only expectation now for Clove in the local market.

Girish Mada Cloves

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Pepper Market November 23, 2024: Price increased slightly back to 140,000 VND/kg

Posted onNovember 23, 2024by VPA

23
Nov

Pepper prices today (November 23) increased slightly by VND1,000 and returned to VND140,000/kg. Vietnam's pepper export activities are slowing down but export prices continue to increase and reach new peaks.

In the world market

In the world market, pepper prices continue to move sideways across the board.

The International Pepper Community (IPC) is listing the price of Indonesian Lampung black pepper at $6,470/ton, Brazilian ASTA 570 black pepper at $6,000/ton, and Malaysian Kuching black pepper at $8,400/ton.

 The export  price of 500 g/l and 550 g/l black pepper  from Vietnam fluctuates between 6,200 - 6,500 USD/ton.

At the same time of survey, the price of Indonesian Muntok white pepper reached 9,055 USD/ton. Meanwhile, Vietnamese white pepper and Malaysian white pepper stood at higher levels of 9,400 USD/ton and 10,500 USD/ton.

Update pepper information

Vietnam's pepper exports are slowing down, a sign that domestic supply is running low.

According to the General Department of Customs, Vietnam's pepper exports in the first 15 days of November only reached 7,642 tons, worth 52.4 million USD, down 9.9% in volume and 5% in value compared to the first half of October, and down 18.8% in volume compared to the same period last year but still up 44.3% in value.

Accumulated from the beginning of the year to November 15, pepper exports reached 226,366 tons, worth 1.16 billion USD, down 3.6% in volume but up 46.9% in value over the same period thanks to high prices.

Since the beginning of the year, Vietnam's pepper export price has increased by 52.3% over the same period last year, reaching an average of 5,137 USD/ton.

In the first half of November alone, the export price of this item reached 6,856 USD/ton, up 4.7% compared to October and up 77.6% compared to the same period last year. This is also the highest price recorded since January 2017.

Not only Vietnam, the pepper export volume of Brazil - the world's second largest pepper producer and supplier - also recorded a decrease of 19.3% in the first 10 months of the year, reaching only 52,988 tons.

However, in return, pepper exports from Indonesia and India increased sharply at double-digit rates.

Regarding consumption demand, since the beginning of the year, pepper  imports   from major markets such as the US, EU, Middle East, and Asia have all increased compared to last year, while the Chinese market has decreased sharply.

According to VietnamBiz.vn

 

Ba Ria – Vung Tau: Organic pepper production for export

Posted onNovember 22, 2024by VPA

22
Nov

To develop clean and safe raw material areas, many farming households and cooperatives in Chau Duc district have linked up to produce organic pepper, targeting the export market.

Choose clean production direction

Mr. Tran Xuan Tho, a farmer in Son Lap village (Son Binh commune) has been growing pepper for decades. Thanks to organic farming, 8.5 sao of pepper grown on acacia and cotton trees has brought a stable annual income for his family.

In the 2024 pepper crop, Mr. Tho harvested nearly 4 tons of dry pepper. “ In the past 3 years, I have switched to organic care, reducing investment costs. Although the yield is not high, in return, the pepper plants grow well and sell for a higher price. Previously, many growers used excessive chemicals in traditional farming, leading to many consequences for the environment, the land quickly became barren and affected human health ,” said Mr. Tho.

Mr. Bui Thanh Hung, in Song Cau village (Nghia Thanh commune) also clearly saw the value and effectiveness of  organic pepper cultivation . In the 2024 crop, despite being affected by prolonged hot weather, the 6-sao pepper garden grew well and harvested 2.5 tons of dry beans. Mr. Hung said that although the yield was not as good as traditional cultivation, there was no crop failure, the plants were not sick, and did not weaken after harvest.

“ I see that organic farming has many benefits. When we do organic farming, we do not use chemicals that are harmful to human health. Regarding plants, we do not use toxic chemicals, so the soil remains fertile and lush for plants to grow ,” Mr. Hung added.

According to Mr. Than Xuan Dong, Vice Chairman of the Farmers’ Association of Chau Duc district, the conversion to clean and organic farming methods has partly restored the position of pepper plants. Through the actual inspection of the Farmers’ Association of the district, currently most households cultivating clean and organic pepper standards have stable incomes, are committed to long-term cultivation and can live well from this crop.

Sustainable Development Link

Recently, through the formation of cooperative models and cooperatives for sustainable pepper production, many participating households have had the opportunity to exchange and access techniques for growing and caring for pepper plants in an organic manner. In particular, when participating in the models, farmers will ensure a source of output for products and stable prices.

Mr. Ngo Xuan Son, Chairman of the Board of Directors and Director of the Comprehensive Rich Organic Cooperative, shared that the majority of members of the cooperative are farmers who have been growing pepper for many years. Thanks to the propaganda and mobilization of the District Farmers' Association, 7 farmer households in the district, Dong Nai province and Ho Chi Minh City have joined forces to produce organic pepper, with the desire to increase product value and move towards sustainable production.

Since its inception, the cooperative has zoned off nearly 50 hectares of adjacent farming households in Xuan Son, Son Binh and Suoi Rao communes to form a raw material area. Participating households must comply with technical instructions and strict supervision by the cooperative's environmental control board.

According to Mr. Do Chi Khoi, Head of the Department of Agriculture and Rural Development of Chau Duc district, the whole district has 5,077 hectares of pepper; the harvested area is 4,928 hectares, the output reaches 9,856 tons of dry pepper/crop.

Chau Duc district sets the goal of forming organic pepper production areas by 2025, creating a source of high-quality agricultural products; forming production chains associated with the consumption of organic agricultural products, meeting domestic consumption and export needs.

According to Mr. Son, before establishing the cooperative, he and some members had more than 5 years of organic pepper production. “ For many years, I have not abused chemical fertilizers and pesticides to take care of the pepper garden, but mainly used biological products to help prevent nematodes and root-damaging fungi. Since producing organically, well water is no longer polluted as before. The rate of dead plants in the garden has decreased to only 3-5%; the cost of buying fertilizer has also decreased compared to before… ”, Mr. Son added.

According to the plan, in the 2025-2027 period, the cooperative will have a raw material area of ​​100 hectares of pepper; in the 2028-2030 period, the cooperative will produce about 500 hectares of pepper in an organic direction. Currently, the cooperative has signed a contract to purchase organic pepper output with Organics More Company. In addition, in the district, there are also Phuc Thinh Import-Export Investment Joint Stock Company (PTEXIM CORP), Harris Freeman Vietnam Company Limited, which are cooperating to purchase dry pepper from farmers in large quantities.

According to Ba Ria - Vung Tau Newspaper