Pepper price remains stable, average 140,700 VND/kg

Domestic pepper price today

Pepper price today November 27, 2024, domestic pepper price situation is stable compared to yesterday November 26, 2024. Previously, yesterday November 26, 2024, the average pepper price in localities increased by 1,000 VND/kg.

Accordingly, the pepper price today, November 27, 2024, in Binh Phuoc is purchased at 140,000 VND/kg; increasing by more than 500 VND/kg is in Gia Lai, purchased at 140,500 VND/kg. The remaining localities such as Ba Ria - Vung Tau, Dak Lak, Dak Nong are all at 141,000 VND/kg. The average pepper price today, November 27, 2024 is at 140,700 VND/kg, no increase/decrease compared to yesterday, November 26, 2024.

Pepper price today, November 27, 2024, is unchanged compared to yesterday. Photo: Hoang Thien

Currently, pepper is one of the four main crops of Dak Nong. Pepper accounts for a large proportion of the province's agricultural land use structure. By the end of 2023, the pepper area in Dak Nong is estimated at about 34,000 hectares, with an annual output of 73,000 tons/crop. Pepper is grown mainly in areas such as Dak Song, Dak R'lap, Tuy Duc, Dak Glong, etc.

Pepper plants have affirmed their position and brought high economic efficiency to farmers. With a large area, the annual demand for fertilizers and pesticides for pepper plants is quite high.

The amount of inorganic fertilizer used for pepper plants is about 34,000 tons/year, mainly in the form of synthetic NPK. In addition, not to mention manure and organic fertilizer produced by people themselves.

As for pesticides, on average, farmers use about 2-3 sprays per year, with the amount of pesticides used being about 40,000-50,000 liters/year. Mainly pesticides used in the rainy season, pesticides used to kill sucking aphids.

According to the Dak Nong Department of Agriculture and Rural Development, to help people cultivate pepper effectively, the unit has coordinated with sectors and localities to promote training, propaganda, and provide people with technical measures in caring for and preventing diseases for crops. In particular, the unit focuses on guiding farmers to use fertilizers and pesticides responsibly to protect the environment and improve product quality.

Domestic pepper price today November 27, 2024

World pepper price today

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, the market was basically stable compared to the previous update, except for the Indonesian market which decreased slightly.

Specifically, IPC listed the price of Indonesian Lampung black pepper at 6,596 USD/ton; down 0.42%; the price of Muntok white pepper at 9,101 USD/ton, down 0.42%.

Brazilian ASTA 570 black pepper prices remained stable at $6,000/ton. Malaysian ASTA black pepper prices were at $8,400/ton; the country’s ASTA white pepper prices reached $10,500/ton.

Of which, the price of Vietnamese black pepper is stable at 6,200 USD/ton for 500 g/l, 550 g/l remains at 6,500 USD/ton; the price of white pepper is at 9,400 USD/ton, unchanged.

According to information from the 2024 Annual Conference of the Public-Private Partnership Group on Pepper and Spices, the country currently has more than 115,000 hectares of pepper and spice crops. Of which, the South Central Coast and Central Highlands regions account for more than 75,300 hectares, the rest are distributed in the South and the North. However, the planting area is expected to decrease to 110,000 hectares due to the impact of weather, pests and diseases and the increase in prices of many other agricultural products.

Vietnam’s pepper and spice industry is facing difficulties in expanding its export markets. Some markets are reducing imports and increasing standards and technical barriers. This puts great pressure on the competitiveness of Vietnamese pepper products in the international market.

According to Ms. Hoang Thi Lien, President of the Vietnam Pepper and Spice Association (VPSA), pepper prices increased sharply in 2024 but often fluctuated suddenly due to the impact of geopolitical conflicts. Exports to the US, Europe and the Middle East increased significantly, while the Indian market and especially China decreased sharply. The industry expects the Chinese market to recover in 2025, boosting exports again.