Pepper prices today, August 5, 2024, in the domestic market turned to increase in key localities, trading from 146,000 - 147,000 VND/kg.
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| Pepper price today August 5, 2024: Domestic price increased by more than 120% over the same period, world price increased sharply, what is the cause? (Source: Borneo Talk) |
Pepper price today, August 5, 2024, in the domestic market turned to increase in key localities, trading from 146,000 - 147,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 146,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (147,000 VND/kg); Dak Lak (147,000 VND/kg); Dak Nong (147,000 VND/kg); Ba Ria - Vung Tau (147,000 VND/kg) and Binh Phuoc (147,000 VND/kg).
Thus, after two days of decline, domestic pepper prices today turned to increase slightly in key localities, increasing by 500 - 1,000 VND/kg. The highest pepper price was at 147,000 VND/kg. In summary, last week, pepper prices decreased by an average of 3,000 VND/kg.
According to a survey by the Vietnam Pepper and Spice Association (VPSA) in three Central Highlands provinces in early July, pepper cultivation is increasingly being competed with by coffee and durian. The area for newly planted pepper is not large, mainly intercropped with coffee trees at a ratio of 6-2.
After the 2024 harvest, a 100-day drought in the Central Highlands caused severe drought in many pepper gardens. Immediately following that, heavy rains in the third week of May in Binh Phuoc and Dak Nong provinces caused waterlogging of pepper gardens. The humid weather created an environment for pests and diseases to attack pepper plants such as yellow leaves, slow death, net bugs, algae spots, and nematodes.
As a result, pepper gardens are prone to fruit loss, malnutrition, yellow leaves, waterlogging, pest and disease infection, etc., with a high rate of young fruit loss. The yield of the next crop may be the same or only slightly higher than in 2024.
The average domestic pepper price in July reached VND 150,000/kg, up 82.9% compared to January and up 120.6% compared to the same period in 2023. The average black pepper price in the first 7 months of 2024 increased by 66.5% compared to 2023. Shortage of supply due to reduced harvest output in Vietnam and Brazil is the main reason for the increase in pepper prices since the beginning of the year.
The International Pepper Community (IPC) commented that the pepper market continued to have mixed reactions this week. After decreasing in the past 3 weeks, both domestic and international Indian pepper prices tended to increase this week.
Exports from major producers in the world have shown contrasting patterns. In the first half of 2024, the world's two leading exporters, Vietnam and Brazil, fell by 6.8% and 6%, respectively. In the same direction, Malaysia's exports also fell by 8.1%, while Indonesia and India's exports increased by 48.3% and 34.1%.
Compared to the same period in 2023, in the first 6 months of 2024, the average FOB price of black pepper and white pepper in most major producing countries increased sharply, except for India. Specifically, the average FOB price of black pepper increased by 27% and the average FOB price of white pepper increased by 14% compared to the same period last year. The strongest increase was recorded in Brazilian black pepper, followed by Vietnam and Indonesia.
Source: https://baoquocte.vn/gia-tieu-hom-nay-582024-gia-noi-dia-tang-hon-120-so-voi-cung-ky-the-gioi-vot-tang-dau-la-nguyen-nhan-281340.html
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