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| Pepper price today November 27, 2024: The market is flourishing, Vietnamese pepper is increasingly asserting its position in the world, growers benefit. (Source: Food Hacks) |
Pepper price today, November 27, 2024 in the domestic market increased slightly in some key localities, trading from 140,000 - 141,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 140,500 VND/kg.
Pepper prices today in the provinces of Dong Nai (140,500 VND/kg); Dak Lak (141,000 VND/kg); Dak Nong (141,000 VND/kg); Ba Ria - Vung Tau (141,000 VND/kg) and Binh Phuoc (140,000 VND/kg).
Thus, domestic pepper prices increased today in most key growing areas, by 1,000 VND/kg. The highest pepper price reached 141,000 VND/kg.
Recently, speaking at the Annual Conference of the Public-Private Partnership Group (PPP) on sustainable development of Vietnamese pepper and spices, Ms. Hoang Thi Lien, President of the Vietnam Pepper and Spice Association (VPSA), said that Vietnamese pepper is increasingly affirming its position in the international market.
In the first 10 months of this year alone, pepper exports earned more than 1.1 billion USD, and it is estimated that the total export value could reach 1.4 billion USD in 2024. The Vietnamese pepper and spice industry aims to become a source of high-quality spices, produced sustainably, with traceability records and meeting the regulations of importing countries.
Thanks to the high pepper prices, pepper farmers are benefiting and earning good incomes this year. However, looking more broadly, pepper is also facing many challenges from climate change, increasingly complex pests and diseases, competition with other crops and rising production costs.
Currently, the whole country has more than 115,000 hectares of pepper and spice plants, mainly concentrated in the South Central Coast - Central Highlands region with more than 75,300 hectares; the rest are in the Southern and Northern regions.
In the coming time, the area of pepper and spices in the country is expected to decrease to 110,000 hectares. The main reasons are due to weather, pests and diseases and the sharp increase in prices of many other agricultural products.
In addition, market expansion is facing difficulties, some markets are reducing imports, and at the same time, technical regulations, standards, and barriers for Vietnamese pepper and spice products continue to increase.
The VPSA Chairman said that although it will increase sharply in 2024, pepper prices have often increased and decreased suddenly in recent times. The reason is that geopolitical conflicts in the world affect the trade of goods between regions as well as key markets.
Exports to the US, Europe and Middle East markets increased sharply, while those to the Indian market, especially China, decreased sharply. Hopefully, in 2025, the Chinese market will increase purchases again.
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 6,624 USD/ton, up 2.46%; 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 9,139 USD/ton, up 1.06%; Malaysian ASTA white pepper price is at 10,500 USD/ton.
Vietnamese black pepper prices are trading at 6,200 USD/ton for 500 g/l; 6,500 USD/ton for 550 g/l; and 9,400 USD/ton for white pepper. IPC sharply increased Indonesian pepper prices at the beginning of this week.
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