Pepper price today December 25, 2023, the factor that makes the domestic pepper industry unstable, Dak Nong farmers hit it big

Pepper price today, December 25, 2023, in the domestic market continued to decrease slightly in some key localities, trading from 78,500 - 82,000 VND/kg.

Pepper price today December 25, 2023, the factor that makes the domestic pepper industry unstable, Dak Nong farmers hit the jackpot. (Source: Borneo Talk)

Pepper prices today, December 25, 2023, in the domestic market continued to decrease slightly in some key localities, trading from 78,500 - 82,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 78,500 VND/kg.

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

Thus, domestically, the market recorded the 5th consecutive day of pepper price decline. At the end of the week, pepper price decreased by 3,500 VND/kg. The market was quiet before and during the Christmas and New Year holidays in 2024.

In recent years, the area and output of pepper have been decreasing. In 2020, the area of pepper cultivation was more than 130,000 hectares, and in 2023 it will decrease to 120,000 hectares, with an output of 190,000 tons. The reason is that pepper prices have been low for a long time, while growing other crops is very profitable, especially durian.

The Vietnam Pepper and Spice Association (VPSA) expressed concern that the above situation will affect pepper output in the long term. Businesses may have to increase pepper imports from Cambodia, Brazil, etc. Increased imports will cause instability and risks to the domestic pepper industry due to lack of proactive production and difficulty in controlling quality, thereby greatly affecting exports.

According to the Dak Nong Electronic Newspaper, the provincial Department of Agriculture and Rural Development said that in 2023, Dak Nong farmers will have a big pepper crop. This year, the province's average pepper yield is 1.5-2 tons/ha. Pepper prices range from 70,000-80,000 VND/kg. Farmers who produce pepper according to organic standards sell it at even higher prices.

Ms. Tran Thi Thu, Director of Hoang Nguyen Organic Agricultural Cooperative (Dak Song) said: In 2023, the Cooperative will purchase more than 300 tons of pepper that meets organic standards of the US, Europe, Japan and Canada, at prices ranging from 100,000 - 120,000 VND/kg. This year, the Cooperative earned over 30 billion VND from pepper exports.

Dak Nong currently has about 141,000 hectares of coffee, with an output of about 361,000 tons/year; 34,000 hectares of pepper, with an output of about 64,000 tons/year; 7,000 hectares of durian, with an output of about 40,000 tons/year...

Dak Nong’s main agricultural products have had good harvests and prices, contributing to improving farmers’ lives. This advantage has relieved a lot of pressure for both producers and traders.

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 3,874 USD/ton, up 0.28%; the price of Brazilian black pepper ASTA 570 at 3,270 USD/ton; the price of Kuching black pepper (Malaysia) ASTA remained at 4,900 USD/ton.

Muntok white pepper price is 6,080 USD/ton, up 0.28%; Malaysian ASTA white pepper price remains at 7,300 USD/ton.

Vietnamese black pepper prices are trading at 3,700 USD/ton for 500 g/l, 3,800 USD/ton for 550 g/l; white pepper prices are at 5,500 USD/ton. IPC assessed that this week, only Indonesian pepper prices were reported to have decreased.

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