Pepper price today October 20, 2023, organic pepper production area is low, mainly according to orders, US sharply reduces imports

Pepper prices today in the domestic market increased slightly in some key localities, trading from 67,500 - 70,500 VND/kg.

Pepper price today October 20, 2023, organic pepper production area is low, mainly according to orders, the US has sharply reduced imports. (Source: Borneo Talk)

Pepper prices today in the domestic market increased slightly in some key localities, trading from 67,500 - 70,500 VND/kg.

Specifically, pepper price today in Gia Lai is at 67,500 VND/kg.

Pepper prices today in Dong Nai province (69,500 VND/kg); Dak Nong, Dak Lak (69,000 VND/kg); Binh Phuoc (70,500 VND/kg) and Ba Ria - Vung Tau are at the highest level of 71,000 VND/kg.

According to preliminary data report of the General Department of Customs, exports in the first half of October 2023 reached 8,068 tons of pepper of all kinds, with a turnover value of 31.29 million USD, bringing exports in the first 9.5 months of the year to 214,105 tons, up 18.04% in volume and down 10.45% in value over the same period last year.

Previously, in the first 9 months of 2023, the average export price of Vietnam's pepper reached 3,312 USD/ton, down 25% over the same period in 2022, according to the latest report of the Import-Export Department ( Ministry of Industry and Trade ).

In the country, the Central Highlands and the Southeast are the two largest pepper producing regions, accounting for about 94% of the area and 97% of pepper output. Of which, about 91.7% of the area and 93.7% of the national pepper output are concentrated in 6 key producing provinces: Gia Lai, Dak Lak, Dak Nong, Binh Phuoc, Dong Nai and Ba Ria - Vung Tau.

Currently, in these 6 provinces, farmers have a strong tendency to switch from traditional methods to organic farming, forming organic pepper production areas. This is also a direction that is in line with the general development trend of the world and is welcomed by the international market.

However, organic pepper production in the three Central Highlands provinces is quite modest, accounting for only 3.53% of the total pepper area. Of which, the organic pepper production area of Gia Lai accounts for only 1.85%, Dak Lak reaches 3.35% and Dak Nong is 5.37%. Most of this organic farming area is produced according to orders from purchasing units and this area is currently on the rise.

In the world market, statistics from the US International Trade Commission (USITC) show that US pepper imports in July continued to decrease for the fifth consecutive month compared to the same period last year to 6,659 tons, a decrease of 21.3%.

Accumulated to the end of July, US pepper imports only reached 40,316 tons, down 25.7% over the same period last year.

Source