High price, good income, growers have motivation to invest heavily in pepper plants

Pepper price today, November 29, 2024 in the domestic market increased in some key localities, trading from 141,000 - 142,200 VND/kg.

Pepper price today November 29, 2024: High price, good income, growers have motivation to invest heavily in pepper plants. (Source: Borneo Talk)

Pepper price today, November 29, 2024 in the domestic market increased in some key localities, trading from 141,000 - 142,200 VND/kg.

Specifically, pepper price today in Gia Lai is at 141,500 VND/kg.

Pepper prices today in the provinces of Dong Nai (141,500 VND/kg); Dak Lak (142,000 VND/kg); Dak Nong (142,200 VND/kg); Ba Ria - Vung Tau (140,000 VND/kg) and Binh Phuoc (141,000 VND/kg).

Thus, domestic pepper prices today increased slightly in most key growing areas, increasing by 1,000 - 1,200 VND/kg, with the only decrease of 1,000 VND/kg recorded in Ba Ria - Vung Tau. The highest pepper price reached 142,200 VND/kg.

Mr. Nguyen Quy Duong, Deputy Director of the Plant Protection Department (Ministry of Agriculture and Rural Development) said that world pepper is in a price increase cycle. In 2024, pepper prices doubled compared to the previous period, which is a driving force for farmers to invest heavily in pepper plants.

Thanks to the high price of pepper, pepper farmers are benefiting and earning good income this year. However, this crop is also facing many challenges from climate change, increasingly complex pests and diseases, competition with other crops and high production costs.

Currently, Dak Nong ranks first in the Central Highlands region and the whole country in terms of pepper growing area, but its output ranks second in the country, after Dak Lak.

Pepper is one of the main crops, but most people still sell it in raw form through small and medium traders and agents, so the value is low.

To develop pepper into a concentrated commodity production industry, localities have issued specific orientations on pepper industry development through resolutions, projects, programs and specific plans.

Focusing on improving product quality, combining preservation, processing and consumption according to the value chain; promoting the application of technical advances and high technology in production, forming raw material areas to meet market demand.

According to statistics from the Vietnam Pepper and Spices Association (VPSA), by the end of October 2024, Vietnam had exported 219,387 tons of pepper of all kinds with a total export turnover of over 1.1 billion USD. Compared to the same period last year, the export volume decreased by 1.9% but the export turnover increased by 48%.

Ms. Hoang Thi Lien, Chairwoman of VPSA, said growth in the US and EU markets has helped offset the sharp decline in the Chinese market.

In the world market, 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; the price of Brazilian black pepper ASTA 570 at 6,050 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,400 USD/ton.

Muntok white pepper price is 9,101 USD/ton; 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 at 9,400 USD/ton.

Source: https://baoquocte.vn/gia-tieu-hom-nay-29112024-gia-cao-thu-nhap-tot-nguoi-trong-co-dong-luc-de-dau-tu-manh-cho-cay-tieu-295491.html