Pepper price today January 23, 2024, reached the highest level in many years, growers are excited about the new harvest season

Pepper price today, January 23, 2024, in the domestic market is stable in some key localities, trading from 79,500 - 82,500 VND/kg.

Pepper prices today, January 23, 2024, reached the highest level in many years, growers are excited about the new harvest season. (Source: Times of India)

Pepper price today January 23, 2024 in the domestic market is stable in some key localities, trading from 79,500 - 82,500 VND/kg.

Specifically, pepper price today in Gia Lai is at 80,000 VND/kg.

Pepper prices today in Dong Nai province (79,500 VND/kg); Dak Nong, Dak Lak (82,500 VND/kg); Ba Ria - Vung Tau (81,500 VND/kg) and Binh Phuoc (82,000 VND/kg).

Thus, today's pepper price is unchanged compared to yesterday. At this time last year, the current pepper price increased by an average of VND22,000/kg. Commenting on the market this week, experts assessed that the increase came from purchase orders before Vietnam entered the Lunar New Year holiday. The increase will not be strong.

Right after the Lunar New Year holiday this year, the peak harvest will take place in key localities. Currently, some early-ripening pepper regions are being harvested. With high early-season prices and low inventories, farmers are excited about the new season.

According to Dak Nong newspaper, pepper prices in the province are currently at around 82,000 VND/kg, 35,000 VND/kg higher than the same period last year. This is the highest price in many years.

Dak Nong currently has 34,000 hectares of pepper, with an output of nearly 70,000 tons. At times, pepper prices remained at VND80,000/kg. Pepper produced using organic processes is even higher, from VND30,000 to VND40,000/kg. Therefore, this year's pepper harvest is expected to bring high income to the people.

Entering 2024, the Vietnam Pepper and Spice Association (VPSA) said it will actively support businesses trading, importing and exporting spices and promote investment attraction, financial and technical support from organizations.

Especially international organizations, for sustainable development, contribute to improving product quality, developing brands, taking advantage of benefits from international integration to promote bringing Vietnamese spice products to the world market.

The goal is that by 2025, the export turnover of the entire pepper and spice industry will reach around 2 billion USD, with a total output of 400,000 - 500,000 tons, with the orientation of sustainable development of the pepper and spice industry to make Vietnam the first choice destination in the global spice supply chain.

In the world market, at the end of last week's trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 3,913 USD/ton, up 0.03%; the price of Brazilian black pepper ASTA 570 at 3,850 USD/ton; the price of Kuching black pepper (Malaysia) ASTA remained at 4,900 USD/ton.

Muntok white pepper price is 6,169 USD/ton, up 0.02%; Malaysian ASTA white pepper price remains at 7,300 USD/ton.

Vietnam black pepper price is traded at 3,900 USD/ton for 500 g/l, 4,000 USD/ton for 550 g/l; white pepper price is at 5,700 USD/ton.

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