Pepper prices today, September 22, 2024, in the domestic market fluctuated in some key localities, trading from 149,000 - 152,000 VND/kg.
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| Pepper price today September 22, 2024: Market moves in opposite directions, there is a good sign for Vietnam's pepper industry. (Source: Black Pepper Plant) |
Pepper prices today, September 22, 2024, in the domestic market fluctuated in some key localities, trading from 149,000 - 152,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 149,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (149,000 VND/kg); Dak Lak (152,000 VND/kg); Dak Nong (150,000 VND/kg); Ba Ria - Vung Tau (149,000 VND/kg) and Binh Phuoc (149,000 VND/kg).
Thus, after a day of uniform increase in all localities, domestic pepper prices today fluctuated in key growing areas, with a slight increase recorded in Dak Lak and Gia Lai while a slight decrease was recorded in other provinces. The highest pepper price was at 152,000 VND/kg.
After the fluctuations in pepper prices in recent times, pepper prices in both domestic and international markets have gradually increased. This is a good sign for the entire Vietnamese pepper industry.
These fluctuations have really excited pepper growers in the Southeast and Central Highlands regions, reviving the production spirit of farmers. According to records at pepper growing households in the border district of Bu Dop, Binh Phuoc, the average price of pepper in the 2023 crop year only fluctuates between 65,000 - 67,000 VND/kg.
However, pepper prices have now set a new record in the past 9 years. Ms. Huynh Thi Kim Phuong, Hung Phuoc Commune, Bu Dop District, Binh Phuoc Province shared that her family produces 2 hectares of pepper, and in previous crops only harvested 2 tons.
In the 2024 crop year, with the news of pepper prices increasing, Ms. Phuong devoted herself to taking care of the pepper garden, so the yield was 4 tons. Not only that, the pepper garden was cared for according to organic processes, so Nedspice Vietnam Company purchased it at a price 5,000 VND/kg higher than the market price. With this good news, Ms. Phuong has a source of income to rebuild the pepper garden after many years of stagnation.
The Vietnam Pepper and Spice Association (VPSA) acknowledged that over the past years, the world pepper market has been in a crisis of oversupply, causing prices to plummet. In Vietnam, there was a time when pepper prices were only 35,000 - 40,000 VND/kg, causing farmers to lose motivation to produce and maintain, so they switched to other crops with higher economic efficiency, most notably durian. The pepper growing area has also plummeted.
If in 2020 there were still over 130,000 hectares, by the end of 2023 there will only be about 120,000 hectares. In the world, the inventory of countries is decreasing. Those are the reasons why pepper prices are increasing again.
Some experts believe that signs of supply shortage compared to demand will continue to be recorded and reflected in the market in the coming time until the crop season.
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,715 USD/ton, up 1.23%; the price of Brazilian black pepper ASTA 570 at 6,900 USD/ton, down 100 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,800 USD/ton.
Muntok white pepper price is 9,305 USD/ton, up 1.21%; Malaysian ASTA white pepper price is at 11,200 USD/ton, up 2.68%.
Vietnam black pepper prices are trading at 6,800 USD/ton for 500 g/l; 7,100 USD/ton for 550 g/l; and 10,150 USD/ton for white pepper. At the end of the week, the International Pepper Community increased pepper prices in Southeast Asian countries and decreased in Brazil.
IPC commented that the pepper market this week had mixed reactions. Both domestic and international Indian pepper prices have been on an upward trend since last week. As the Indonesian Rupiah strengthened against the USD (IDR 15,269 @ 1 USD), Indonesian pepper prices recorded positive signs.
Source: https://baoquocte.vn/gia-tieu-hom-nay-2292024-thi-truong-dien-bien-trai-chieu-xuat-hien-tin-hieu-vui-cho-nganh-ho-tieu-viet-nam-287172.html
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