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| Pepper price today November 3, 2024: Market down, risk of crop failure due to unfavorable weather, many agents and small businesses stockpile goods waiting for prices. (Source: Getty) |
Pepper prices today, November 3, 2024, in the domestic market continued to decrease in some key localities, trading from 140,000 - 141,200 VND/kg.
Specifically, pepper price today in Gia Lai is at 140,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (140,000 VND/kg); Dak Lak (141,000 VND/kg); Dak Nong (141,200 VND/kg); Ba Ria - Vung Tau (141,000 VND/kg) and Binh Phuoc (140,000 VND/kg).
Thus, continuing the downward trend, domestic pepper prices today decreased in key growing areas, with a decrease of 1,000 - 1,200 VND/kg. The highest pepper price was at 141,200 VND/kg. This is the second consecutive day of decrease in the domestic market.
According to Ba Ria – Vung Tau Newspaper, recently in this locality, due to the impact of unfavorable weather, many pepper flowers have fallen off, causing low fruit set rate and high risk of crop failure. Many farmers are worried because pepper prices are currently high, but profits may decrease sharply.
Mr. Tran Van Phap, Hamlet 1, Hoa Hung Commune, Xuyen Moc District, said that his family's 1.1-hectare pepper garden is in the fruit-bearing stage. If last year, the pepper garden yielded nearly 6 tons, this year the estimated fruit-bearing rate is only about 50%.
According to Mr. Phap, at the time of treatment for flowering, the prolonged harsh sunlight and drought caused the tree to stop growing buds. Any tree that had flowers fell off en masse, resulting in a very low fruit set rate.
In Chau Duc district, fruit drop also occurs in many pepper gardens.
Statistics from the Department of Agriculture and Rural Development of Ba Ria - Vung Tau show that the pepper growing area of the province is about 10,500 hectares. Although pepper prices have started to increase again since the 2023 crop year, farmers have focused on investing in tree care, but due to the impact of the weather, this crop year's output is forecast to decrease sharply compared to last year.
Recently, speaking to the press, Mr. Hoang Phuoc Binh - Permanent Vice President of the Chu Se Pepper Association (Gia Lai province), said that the increasing trend of world pepper prices has created opportunities for many agents and small businesses to stockpile goods waiting for prices. This action pushes prices higher than the actual supply and demand of the market, causing pepper prices to fluctuate strongly.
In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,683 USD/ton, down 0.12%; the price of Brazilian black pepper ASTA 570 at 6,400 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.
Muntok white pepper price is 9,150 USD/ton, down 0.11%; Malaysian ASTA white pepper price is at 11,000 USD/ton.
Vietnamese black pepper price is traded 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. IPC adjusts down Indonesian pepper price.
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