Pepper price today October 24, 2023, big customers are indecisive, standing on the sidelines waiting for selling pressure, comments on the 2024 crop

Pepper prices today in the domestic market remained stable in some key localities, trading from 67,500 - 71,000 VND/kg.

Pepper price today October 24, 2023, big customers are indecisive, standing on the sidelines waiting for selling pressure, comments on the 2024 crop. (Source: Haprosimex)

Pepper prices today in the domestic market remained stable in some key localities, trading from 67,500 - 71,000 VND/kg.

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

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

It is currently the end of the rainy season in the Central Highlands - one of the two key pepper growing regions in Vietnam. At this time, large amounts of water and high humidity directly affect the growth and development of pepper farms. This is the stage when plants are susceptible to pests and diseases, affecting the growth of the plants.

Gardeners need to provide nutrients for pepper plants by adding mineral fertilizers containing high potassium content, helping the fruit develop evenly, the peppercorns firm, and biological organic fertilizer products are highly recommended to increase the ability to absorb nutrients and fruit yield.

In addition, pruning is done on farms growing spine trees to create ventilation, creating favorable conditions for pepper to grow and develop, limiting pests and diseases. Some pests such as black pepper bugs, aphids, mosquito bugs, etc. are considered dangerous diseases, so farmers should act immediately to completely eliminate them to ensure the productivity and quality of pepper plants.

Initial estimates suggest that next year’s crop will yield less. The market is currently sluggish amid the strong dollar and high inflation.

However, due to the limited amount of pepper available to the public, the price reduction is not large. Regarding the short-term price movement of pepper, experts say it is unlikely that there will be strong fluctuations in the context of cash flow into coffee. The market is still a tug-of-war between buyers and sellers.

According to Royal Golden General Trading's pepper market report for week 39/2023, amid sluggish demand abroad, the Vietnamese pepper market remains relatively stable.

The report showed that small volume purchases took place during the week to meet urgent needs from Asian buyers.

Meanwhile, other major importing countries remain indecisive in holding their positions in the pepper market and are said to be standing aside waiting for selling pressure to take place.

Source