The market is anchored at high prices, growers are excited to expand investment and area.

Pepper price today, September 19, 2024 in the domestic market decreased slightly in some key localities, trading from 152,000 - 155,000 VND/kg.

Pepper price today September 19, 2024: The market is anchored at high prices, growers are excited to expand investment and acreage. (Source: Getty)

Pepper price today, September 19, 2024 in the domestic market decreased slightly in some key localities, trading from 152,000 - 155,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 153,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (152,000 VND/kg); Dak Lak (155,000 VND/kg); Dak Nong (155,000 VND/kg); Ba Ria - Vung Tau (152,000 VND/kg) and Binh Phuoc (152,000 VND/kg).

Thus, continuing yesterday's decline, domestic pepper prices today decreased in Gia Lai, Dong Nai and Ba Ria - Vung Tau, while remaining unchanged in other key localities. The highest pepper price was at 155,000 VND/kg.

Compared to the same period last year, domestic pepper prices are much higher, which is a premise for local farmers to confidently expand their acreage, helping Vietnam maintain its position as the country with the world's leading pepper output and value.

As recorded in Xuan Loc district (Dong Nai province), from the beginning of 2024 until now, the price of pepper has improved, making farmers in Suoi Cao and Xuan Tho communes excited, focusing on investment and expanding the area.

Specifically, this year, the pepper area in these two communes has increased by about 130 hectares compared to last year, bringing the total area to nearly 1,000 hectares (these two localities are also known as the pepper capital in Xuan Loc).

However, the locality encourages farmers not to massively switch crops, but to focus on improving and caring for existing areas in a sustainable organic direction. For new planting areas, farmers should manage fungal diseases well, choose clean, healthy pepper varieties that are suitable for the climate and soil for cultivation.

Meanwhile, Mr. Phan Minh Thong, Chairman of Phuc Sinh Group, commented that 2024 will be a year of strong growth for the pepper industry, with the price of this spice forecast to continuously increase due to limited domestic and global supply.

However, with decades of experience in exporting and witnessing the ups and downs of the pepper industry, Chairman Phuc Sinh has drawn a lesson: “We should not look at the growing market and high prices and find ways to increase output to exceed supply. The important thing is that businesses and people cooperate together to invest sustainably in order to hope for long-term growth.”

In the world market, in contrast to the decline of leading producing countries such as Brazil or Vietnam, Indonesia's pepper export volume has witnessed a strong increase in the first months of this year.

Data from the Central Statistics Agency of Indonesia (BPS) shows that by the end of July, Indonesia's pepper exports reached 22,829 tons, worth more than 111 million USD, a sharp increase of 55.6% in volume and 59.6% in value compared to the same period last year.

Indonesia's average pepper export price in the past 7 months was 4,869 USD/ton, up 2.5% over the same period. This is a rather modest price increase compared to other leading producing countries and the general level of the international market in recent times.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 7,595 USD/ton, up 0.43%; the price of Brazilian black pepper ASTA 570 at 7,000 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,800 USD/ton.

Muntok white pepper price is 9,161 USD/ton, up 0.44%; Malaysian ASTA white pepper price is at 10,900 USD/ton.

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. IPC increased pepper prices in Indonesia while keeping them stable in other countries.

Source: https://baoquocte.vn/gia-tieu-hom-nay-1992024-thi-truong-neo-o-gia-cao-nguoi-trong-phan-khoi-mo-rong-dau-tu-dien-tich-286795.html