Vietnam: Notable pepper market information on November 25, 2021

Pepper prices in the domestic market in Vietnam remained stable, with the highest price in Ba Ria - Vung Tau and the lowest in Gia Li. Indonesia's domestic and international pepper prices continued to increase as farmers withheld their goods in anticipation of higher prices. Climate change is expected to slow down the harvest time and decrease the output in 2022. Vietnam's pepper production is projected to decrease by 10-15%, and India's by about 20%. The total pepper production in 2022 is estimated at about 533,000 tons, with Vietnam and Brazil as the two largest markets.

Thai 45 ICUMSA white sugar closed at $518.4/ton, up 2.05% from the previous session and up 3.51% over the same period last month. New York cocoa futures in March 2022 closed at $2,512/ton, down 2.1%, and pound-denominated cocoa futures on London were also down 2% to close at 1,719 lb/mt. The two top cocoa producers, Ivory Coast and Ghana, are selling at these prices and are experiencing heavier-than-normal rainfall since August 2021. Citi forecasts a global cocoa deficit of 75,000-100,000 tonnes in 2021/22.