Pepper prices today, November 23, 2024, in the domestic market suddenly increased in some key localities, trading from 139,500 - 140,200 VND/kg.
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| Pepper price today November 23, 2024: Market bounces back, farmers are excited, expecting a bumper crop, good harvest, good price. (Source: AdobeStock) |
Pepper prices today, November 23, 2024, in the domestic market suddenly increased in some key localities, trading from 139,500 - 140,200 VND/kg.
Specifically, pepper price today in Gia Lai is at 139,500 VND/kg.
Pepper prices today in the provinces of Dong Nai (139,500 VND/kg); Dak Lak (140,000 VND/kg); Dak Nong (140,200 VND/kg); Ba Ria - Vung Tau (139,500 VND/kg) and Binh Phuoc (140,000 VND/kg).
Thus, domestic pepper prices today increased across most key growing regions, increasing by 500 - 1,500 VND/kg. The highest pepper price is at 140,200 VND/kg.
Up to now, Vietnam has exported nearly 230 thousand tons of pepper of all kinds. The total export volume is lower than last year, but the value has far exceeded.
The average export price of black pepper in 10 months reached 4,971 USD/ton, an increase of 1,528 USD and white pepper reached 6,626 USD/ton, an increase of 1,671 USD over the same period in 2023.
After 10 years, pepper exports have regained the 1 billion USD mark, and are forecast to set a new record of 1.3 billion USD for the whole year 2024. In a few months, the whole country will enter the new harvest season. The current high price makes farmers excited, expecting a bumper crop, good harvest, and good price.
Regarding the output of the next crop, although there is a lot of information that it will be delayed by 1 month, the output may increase slightly by 5 - 10% compared to the previous crop (170,000 tons).
Regarding price developments, there are many forecasts, including a scenario of the market continuously increasing, starting from the beginning of the season thanks to increased purchases from China. Comments are all leaning towards a medium- and long-term increase in pepper prices. There are even predictions that a new growth phase for pepper has arrived, and it could peak at 300,000 in the next few years.
However, the Import-Export Department (Ministry of Industry and Trade) forecasts that Vietnam's pepper export activities will not be favorable in the last months of this year due to limited domestic supply, and demand from China is still low. It is expected that by early 2025, the export situation to this market will be more positive as demand is expected to increase sharply.
In recent years, Dak Nong has had more and more farmers, cooperatives, and businesses investing in developing organic agriculture, creating many high-quality products.
Hoang Nguyen Organic Agricultural Cooperative in Thuan Ha Commune, Dak Song District is one of the leading units in developing organic pepper in the country. Right from its establishment in 2018, the Cooperative determined to develop organic pepper.
To date, the cooperative has 202 households growing 700 hectares of organic pepper and following the organic direction. Of which, the cooperative has nearly 197 hectares certified organic according to international standards including: Japan, USA, EU, Canada.
Over the years, members of the cooperative have always sold organic pepper at a price higher than the market price, sometimes twice as high.
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,470 USD/ton; the price of Brazilian black pepper ASTA 570 at 6,000 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,400 USD/ton.
Muntok white pepper price is 9,055 USD/ton; ASTA Malaysian white pepper price is at 10,500 USD/ton.
Vietnam's black pepper price is trading at 6,200 USD/ton for 500 g/l; 550 g/l at 6,500 USD/ton; white pepper price at 9,400 USD/ton. Pepper prices in other countries remain stable.
Source: https://baoquocte.vn/gia-tieu-hom-nay-23112024-thi-truong-bat-tang-nong-dan-phan-khoi-ky-vong-ve-mot-vu-boi-thu-duoc-mua-duoc-gia-294718.html
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