Pepper price today February 24, 2024, Vietnamese pepper has a good harvest and good price, favorable weather, farmers are excited in the middle of the harvest

Pepper price today, February 24, 2024, in the domestic market continued to increase sharply in some key localities, trading from 93,000 - 96,000 VND/kg.

Pepper price today February 24, 2024, Vietnamese pepper has a good harvest and good price, favorable weather, farmers are excited in the middle of the harvest. (Source: Getty)

Pepper prices today, February 24, 2024, in the domestic market continued to increase sharply in some key localities, trading from 93,000 - 96,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 93,000 VND/kg.

Pepper prices today in Dong Nai province (93,000 VND/kg); Dak Nong, Dak Lak (95,000 VND/kg); Ba Ria - Vung Tau (95,000 VND/kg) and Binh Phuoc (96,000 VND/kg).

Thus, pepper prices today continue to increase very strongly, with a large increase of 3,500-4,000 VND per kg in key localities. The highest pepper price was recorded in Binh Phuoc with a new mark of 96,000 VND/kg.

After the Lunar New Year, farmers in many localities began the pepper harvest season. This year, the weather was relatively favorable and pepper prices remained high, making people very excited.

According to Dak Nong Radio and Television Station, Mr. Tran Trong Khuong's family in Dac Thuy village, Dac Lao commune (Dak Mil district) has 2 hectares. It is estimated that this year his family will harvest more than 2.5 tons of pepper. Not only is the harvest good, but the pepper price is also maintained at a high level, so he is very excited. According to calculations, after deducting expenses, his family will have a profit of over 130 million VND.

According to the Department of Agriculture and Rural Development of Dak Mil district, in recent years, thanks to investment in organic farming, pepper plants have been less susceptible to disease. This year's expected yield is 1-2 quintals/ha higher than last year, averaging about 3 tons/ha.

With its position as the world's number 1 pepper supplier thanks to stable supply and guaranteed quality, Vietnamese pepper will easily penetrate the markets.

Along with that, the quality of Vietnamese pepper is increasingly improved, meeting the strict standards of importing countries. In addition, the price of Vietnamese pepper is relatively competitive compared to other pepper exporting powers.

In 2024, the Vietnamese pepper industry is likely to continue to exploit the US, China, EU and other potential markets.

According to preliminary statistics of the Vietnam Pepper and Spice Association, in the first 15 days of February 2024, Vietnam exported 5,687 tons of pepper, of which black pepper reached 4,886 tons and white pepper reached 801 tons, with a total export turnover of 22.7 million USD.

The first half of February 2024 is the period when the Vietnamese market is on a long Lunar New Year holiday, so the export volume has decreased sharply. It is expected that the export volume will increase sharply in the second half of the month due to the demand for immediate orders in the first quarter of 2024. This is also one of the reasons for the sharp increase in pepper prices in recent days.

In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 3,912 USD/ton, up 0.18%; the price of Brazilian black pepper ASTA 570 at 4,350 USD/ton, up 250 USD/ton; the price of Kuching black pepper (Malaysia) ASTA remained at 4,900 USD/ton.

Muntok white pepper price is 6,168 USD/ton, up 0.18%; 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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