Unexpected spike, pepper production and maintenance is competitive, the market has conflicting information

Today, September 1st, 2024, pepper prices in the domestic market unexpectedly surged in key producing regions, trading at 143,000 – 145,000 VND/kg.

Pepper prices today, September 1, 2024: Unexpected surge, competition for maintaining and producing pepper, conflicting information emerging in the market. (Source: Food Hacks)

Today, September 1st, 2024, pepper prices in the domestic market unexpectedly surged in key producing areas, trading at 143,000 – 145,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 143,000 VND/kg.

Today's pepper prices in the provinces of Dong Nai (143,500 VND/kg); Dak Lak (145,000 VND/kg); Dak Nong (144,500 VND/kg); Ba Ria - Vung Tau (144,500 VND/kg) and Binh Phuoc (145,000 VND/kg).

Thus, after a day of stability, domestic pepper prices unexpectedly surged today in key producing regions, increasing by 1,500 – 3,000 VND/kg. The highest price reached 145,000 VND/kg.

According to the Vietnam Pepper and Spice Association (VPSA), the impact of the El Nino climate change phenomenon at the beginning of the year affected the cultivation, production, and maintenance of pepper gardens by farmers.

Following that, the La Nina phenomenon further disturbed the farmers' psychology, especially at the present time when durian and coffee prices are at high levels, so they are not attractive enough for farmers to replant pepper massively. However, the price of pepper seedlings in some provinces has also increased sharply by an average of 20,000 - 25,000 VND/tree due to limited seed supply.

The Association’s survey of the current situation in the three Central Highlands provinces in early July showed that farmers’ pepper production and maintenance is increasingly being competed by durian and coffee. New planting areas have been recorded but not much, mainly intercropping pepper with coffee at a ratio of 6/2.

Therefore, VPSA believes that the yield for the next crop season may be equivalent to or slightly higher than in 2024. There is not much stock remaining in farmers' hands, pest and disease problems still exist but are insignificant, and farmers are able to control some common diseases such as: yellowing leaves, slow wilting, net stink bugs, algal spots, and nematodes.

The pepper harvest in Vietnam will last from January to the end of April in key growing areas, with output slightly increasing compared to 2023.

There is conflicting information currently. Some farmers share that their pepper plants are not bearing fruit this new season. However, others say they expect a bumper crop, attributing this to weather conditions.

According to experts, even if the next pepper crop is slightly better than the last one, it will not be able to make up for the pepper acreage that has been lost in the past and is still being lost. Therefore, it is forecasted that the supply will continue to be in short supply in the future.

At the close of the most recent trading session, the International Pepper Community (IPC) listed Lampung black pepper (Indonesia) at $7,529/ton, down 0.41%; Brazilian ASTA 570 black pepper at $6,450/ton; and Kuching (Malaysia) ASTA black pepper at $8,500/ton.

Muntok white pepper was priced at US$8,8651/ton, down 0.41%; Malaysian ASTA white pepper was priced at US$10,400/ton.

Vietnamese black pepper is trading at US$6,100/ton for the 500 g/l grade; US$6,500/ton for the 550 g/l grade; and white pepper at US$8,800/ton. IPC lowered Indonesian pepper prices after a one-day increase.

The International Pepper Community noted that the pepper market at the end of August continued to experience mixed reactions. Indian pepper prices remained stable both domestically and internationally this week. However, the strengthening of the Indonesian Rupiah against the USD pushed Indonesian pepper prices higher this week.

Source: https://baoquocte.vn/gia-tieu-hom-nay-192024-bat-ngo-tang-vot-viec-duy-tri-va-san-xuat-ho-tieu-bi-canh-tranh-thi-truong-xuat-hien-thong-tin-trai-chieu-284547.html