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| Pepper price today November 29, 2023, agents push goods to turn over capital, inventory decreases, growth momentum is still limited. (Source: Food and Wine) |
Pepper price today, November 29, 2023 in the domestic market increased slightly in some key localities, trading from 69,500 - 72,500 VND/kg.
Specifically, pepper price today in Gia Lai is at 69,500 VND/kg.
Pepper prices today in Dong Nai province (69,500 VND/kg); Dak Nong, Dak Lak (70,500 VND/kg); Ba Ria - Vung Tau (72,000 VND/kg) and Binh Phuoc (72,500 VND/kg).
In October, domestic black pepper prices decreased by about VND2,000/kg to VND67,000 - 70,000/kg.
Entering November, pepper prices tended to increase again, with an increase of 500 - 1,000 VND/kg to 68,000 - 71,000 VND/kg.
Black pepper prices increased again, supported by signs of improvement in demand from China, the US, the European Union (EU), and Asia.
However, the growth momentum is somewhat limited because some traders need large capital to switch to coffee trading when the price of this commodity continues to increase sharply. Meanwhile, their capital has been tied up in pepper for a long time. Therefore, agents sell a lot to turn around capital.
According to the Vietnam Pepper and Spices Association (VPSA), despite difficult market conditions, with the EU and US markets being more sluggish than the Chinese market, the pepper industry has achieved good export results, increasing in quantity but decreasing in value compared to last year.
Vietnam has now exported all of its 2023 harvest. It is forecasted that exports from now until the end of the year will depend on the amount of inventory carried over from previous years.
Total export volume for the whole year of 2023 is expected to be around 250 thousand tons. The inventory volume from 2023 carried over to 2024 will be the lowest in many years.
According to the Central Highlands Agricultural and Forestry Science Institute, Vietnam's pepper varieties are very poor, mainly Vinh Linh and Loc Ninh varieties. Of these, Vinh Linh pepper varieties account for over 90%. Currently, the Institute has collected about 40 different pepper varieties to combine with some foreign pepper materials to supplement the Vietnamese pepper variety set.
After 3 years of implementation, the Project “Assessing the development potential of tissue cultured pepper plants under cultivation conditions in Dak Nong” has yielded many positive results. This is a collaborative research project between the Department of Science and Technology of Dak Nong province and the Tay Nguyen Institute of Agricultural and Forestry Sciences.
The research team has built 4 models of tissue culture pepper cultivation in Dak Glong, Gia Nghia and Dak Song. From there, they have surveyed the climate and soil conditions to see how far tissue cultured pepper plants can grow and develop after being trained in the laboratory in the wild.
The results showed that tissue cultured pepper plants grew much stronger than conventional pepper plants that were propagated and planted at the same time. Within 12 months of planting, almost 100% of tissue cultured pepper plants were ready to start growing.
During the cultivation process, the research team increased organic matter and weeded the tissue-cultured pepper plants as well as planted yellow cassia to improve the soil. Thanks to that, the growth process of tissue-cultured pepper plants up to this point has been evaluated as very successful.
The Tay Nguyen Institute of Agricultural and Forestry Science and Technology is perfecting the process of planting and caring for tissue-cultured pepper in the field. When the results are available, the unit will transfer and expand the production of tissue-cultured pepper varieties.
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