Farmers are excited because pepper prices have increased sharply to 1,500 VND/kg.

Pepper price update today November 22, 2024, farmers are excited because domestic pepper prices suddenly increased sharply, did the latest pepper price on November 22 increase or decrease?

Domestic pepper price today

Pepper price today, November 22, 2024, domestic pepper price situation suddenly increased simultaneously. Gia Lai, Ba Ria - Vung Tau and Binh Phuoc provinces all increased by 1,500 VND/kg compared to yesterday, November 21, 2024. Dak Nong increased by 700 VND/kg, Dak Lak increased slightly by 500 VND/kg compared to yesterday.

Specifically, the Gia Lai area was purchased at 139,500 VND/kg, equal to the price of Ba Ria - Vung Tau, both of these localities also increased by 1,500 VND/kg. Meanwhile, Binh Phuoc and Dak Lak both had prices of 140,000 VND/kg. In particular, Dak Nong province increased slightly at 140,200 VND/kg.

The average pepper price today, November 22, 2024, fluctuates from 139,500 - 140,200 VND/kg, an increase of 1,100 VND/kg compared to yesterday, November 21, 2024.

Pepper prices have been gloomy and falling since the beginning of the week. The sharp increase in pepper prices will be a positive sign for the pepper industry as well as domestic farmers.

In 2014-2015, pepper was considered “black gold” when the price peaked at 250,000 VND/kg. Seeing the big profits, many farmers rushed to buy land and switch to growing pepper.

The consequence is that the process of planting and caring for pepper plants is broken, chemical fertilizers and pesticides are poured into the garden with the desire to grow the fastest and achieve the highest yield.

After 10 years, efforts to sustainably develop the pepper industry are being maintained and achieving positive results. After a year of good prices, people did not rush to plant new pepper, but instead focused on increasing productivity using organic methods.

It is expected that Vietnam’s pepper exports will be favorable in early 2025 thanks to strong demand from the Chinese market. At the same time, global pepper supply will be scarce until February 2025 because Indonesia’s most recent harvest has ended. This is a great opportunity for Vietnam to take advantage of when entering the new harvest.

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 remained stable, unchanged, flat compared to the previous update. IPC listed the price of Indonesian Lampung black pepper at 6,470 USD/ton; the price of Muntok white pepper at 9,055 USD/ton.

The price of Brazilian ASTA 570 black pepper is at 6,000 USD/ton. The price of Malaysian ASTA black pepper is at 8,400 USD/ton; the price of this country's ASTA white pepper is at 10,500 USD/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.

Earlier this week, experts from the project to transform pest management practices on coffee, tea, and pepper farms in Vietnam visited and evaluated the effectiveness of the implementation in Dak Nong. They learned about the reality at the Doan Ket Agricultural Service Cooperative and some households in Dak Song and Cu Jut districts.

Experts highly appreciated the efforts of farmers and cooperatives in Dak Nong in applying integrated pest management. These measures help minimize negative impacts on the environment, ensure safe agricultural production and limit greenhouse gas emissions.

The project, which will be implemented from 2022 to 2025 in Dak Lak, Lam Dong, Dak Nong, Binh Phuoc, Tuyen Quang and Phu Tho provinces, has built 6 models in Dak Nong with nearly 15 hectares of pepper applying integrated pest management. The main objective of the project is to reduce the use of agricultural chemicals, limit negative impacts on climate and protect biodiversity.