Export prices skyrocket, people boldly expand cultivation area

Pepper prices today, October 15, 2024, in the domestic market are stable in some key localities, trading from 143,000 - 144,000 VND/kg.

Pepper price today October 15, 2024: Export price skyrockets, people boldly expand cultivation area. (Source: AdobeStock)

Pepper price today October 15, 2024 in the domestic market is stable in some key localities, trading from 143,000 - 144,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 143,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (143,000 VND/kg); Dak Lak (144,000 VND/kg); Dak Nong (144,000 VND/kg); Ba Ria - Vung Tau (144,000 VND/kg) and Binh Phuoc (144,000 VND/kg).

Thus, after 3 consecutive days of decline, domestic pepper prices today remained stable in some key growing areas. The highest pepper price was at 144,000 VND/kg.

The average export price of pepper in the first 9 months of the year reached 4,933 USD/ton, up 49.2% over the same period last year. In September alone, the export price of pepper increased to the highest level in nearly 8 years with an average of 6,239 USD/ton, up 3.8% over the previous month and up 67.5% over the same period last year.

As expected, Vietnam's 2025 pepper harvest will be mostly concentrated in February 2025, and in some regions it will last until March and April, 1-2 months later than previous years due to the impact of prolonged drought, causing Vietnam's pepper supply to become increasingly limited.

With prices higher than previous years as they are now, along with the assessment that Vietnam's export pepper prices will still be supported in the coming time, farmers in localities in the country tend to replant this once "black gold" crop.

Accordingly, some farmers with old pepper gardens have boldly invested in new planting or expanded the area compared to before. Many provinces with strengths in pepper growing have also recorded the above.

As in Binh Dinh, the pepper acreage is smaller than in the provinces of the Central Highlands and the Southeast, most of which is concentrated in Hoai An district. In particular, the entire Hoai An district currently has about 300 hectares of pepper, of which 260 hectares are harvested. The estimated yield is about 7 tons/ha, a fairly positive figure although it has decreased slightly compared to previous years, due to lack of investment.

Faced with high pepper prices, many farmers in Hoai An are planning to expand their pepper growing scale.

According to data from the China Customs Administration, the country's pepper imports in August reached 890 tons, worth 5.8 million USD, down 54.7% in volume and 36.8% in value compared to the previous month, but up 23.7% in volume and 80.9% in value compared to the same period last year.

In the first 8 months of the year, China imported 7,484 tons of pepper, worth 36.1 million USD, up 21.9% in volume and 41% in value over the same period in 2023.

The two main pepper suppliers to China in the first eight months of the year were still Indonesia and Vietnam, accounting for a total of 90% of the Northeast Asian country's pepper import market share.

According to a report by Nedspice, Vietnam's processed pepper exports in the first 9 months of 2024 increased by more than 50% compared to last year. Of which, whole black pepper exports increased slightly due to the absence of Chinese suppliers in the market.

Experts say that in the long term, pepper export prices will still be supported because the 2025 crop is expected to be harvested later due to the impact of weather last year.

Source: https://baoquocte.vn/gia-tieu-hom-nay-15102024-gia-xuat-khau-vot-tang-nguoi-dan-manh-dan-mo-rong-dien-tich-canh-tac-290058.html