Pepper prices today, September 23, 2024, in the domestic market increased in most key localities, trading from 150,000 - 151,000 VND/kg.
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| Pepper price today September 23, 2024: Market increases, growers are excited, reviving production spirit before the harvest season, (Source: Food Hacks) |
Pepper prices today, September 23, 2024, in the domestic market increased in most key localities, trading from 150,000 - 151,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 150,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (150,000 VND/kg); Dak Lak (151,000 VND/kg); Dak Nong (151,000 VND/kg); Ba Ria - Vung Tau (150,000 VND/kg) and Binh Phuoc (150,000 VND/kg).
Thus, after a day of mixed developments, domestic pepper prices today increased slightly in most key growing areas, an increase of 1,000 VND/kg, while decreasing slightly by 1,000 VND/kg in Dak Lak. The highest pepper price was at 151,000 VND/kg. In summary, last week, pepper prices decreased by 2,000 - 5,000 VND/kg in localities.
According to records, current pepper prices help local pepper growers feel excited, reviving production spirit before entering this year's harvest.
Experts say pepper prices could rise above VND160,000/kg before the harvest season in Vietnam. One of the main reasons for the recent increase in pepper prices is limited supply worldwide.
Even Indonesia and India are experiencing limited supply, as are smaller producers like Malaysia and Sri Lanka. Meanwhile, the two countries that determine global supply, Brazil and Vietnam, have both seen reduced production due to drought caused by El Nino. Although there are forecasts for higher production in Vietnam next year, with the current erratic weather conditions, nothing can be said for sure.
Looking long term in the next 3-5 years, the amount of pepper produced cannot meet the world's consumption demand.
In the structure of pepper export types in the first 8 months of the year, whole black pepper continued to account for a large proportion of up to 73.8%, reaching 135,620 tons. Next is ground black pepper reaching 25,699 tons, accounting for 14%; whole white pepper accounting for 7.7% with 14,975 tons; ground white pepper accounting for 3.8%; and finally pickled pepper, black pepper, nail head pepper, green pepper, pink pepper... with 0.7%.
Since the beginning of the year, Vietnam's pepper exports to most major consumer markets have grown strongly at double-digit rates, except for the Chinese market.
According to the Vietnam Pepper and Spice Association (VPSA), Vietnam's pepper exports to the Chinese market in the first 8 months of this year only reached 8,388 tons, worth 23.5 million USD, a sharp decrease of 84.4% in volume and 80.2% in value compared to the same period last year.
China's market share in Vietnam's total pepper exports accordingly dropped to 4.6% compared to 28.6% in the same period. With this result, China is now only ranked 5th in the list of Vietnam's largest pepper exporters after the first 8 months of the year, falling 4 places compared to the number one position in 2023.
Source: https://baoquocte.vn/gia-tieu-hom-nay-2392024-thi-truong-tang-nguoi-trong-phan-khoi-vuc-day-tinh-than-san-xuat-truoc-khi-vao-vu-thu-harvest-287244.html
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