Deep discounts in key markets

Pepper price today, October 19, 2024, in key areas has fluctuated sharply compared to yesterday and traded around 143,000 - 143,500 VND/kg. On average, in some key areas, it decreased by 1,000 VND/kg.

Accordingly, Dak Lak pepper price was purchased at 143,500 VND/kg, down 1,000 VND compared to yesterday. Chu Se pepper price (Gia Lai) was purchased at 143,000 VND/kg, unchanged, Dak Nong pepper price today was recorded at 143,500 VND/kg, down 1,000 VND/kg compared to yesterday.

In the Southeast region, pepper prices today (October 19, 2024) mainly did not record a decrease of 1,000 VND/kg compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 143,000 VND/kg. In Binh Phuoc, pepper prices today are at 143,000 VND/kg.

Giá tiêu hôm nay 19/10/2024: Giảm sâu tại các thị trường trọng điểm

Pepper price today October 19, 2024: Deep decrease in key markets

World pepper price today:

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,794 USD/ton; the price of Muntok white pepper at 9,302 USD/ton.

The price of Brazilian ASTA 570 black pepper was at USD 6,400/ton. The price of Malaysian ASTA black pepper remained stable at USD 8,700/ton; the price of this country's ASTA white pepper reached USD 11,200/ton.

Today, Vietnam's black pepper price is trading at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price at 9,500 USD/ton.

Pepper prices are currently at a high level, surpassing previous years, and promise to continue to increase in the coming time. This has sparked a wave of pepper replanting in many regions of the country, especially in provinces with favorable conditions for this plant once known as "black gold".

Binh Phuoc Province, famous for its agricultural strengths, is witnessing an explosion of organic pepper farming. Many farming households have converted and achieved positive results. Although the pepper growing area here has decreased to about 12,450 hectares due to many factors such as unstable prices, diseases and the switch to other crops, many families still persevere in pursuing organic farming methods, bringing benefits to both growers and consumers.

Pepper prices have increased sharply since the beginning of 2024, reaching over VND 100,000/kg, bringing joy and motivation to pepper farmers. However, the pepper industry also faces challenges:

Global economic instability has reduced demand for pepper as inflation and recession have caused consumers to limit spending on non-essential products.

The El Nino and La Nina phenomena affect farmers' productivity and decisions to plant pepper, especially when durian and coffee prices are high.

Pepper exports to China have decreased due to their heavy imports from Indonesia, negatively impacting the Vietnamese pepper industry.

The domestic pepper market has been unstable recently, with prices falling continuously, but some areas have begun to see prices increase again.

The revival of “black gold” is a positive signal for Vietnam’s agricultural sector. However, for sustainable development, there needs to be synchronous solutions to overcome challenges, ensure supply and stabilize prices, while boosting exports and increasing added value for Vietnamese pepper products.