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| Pepper price today November 26, 2023, market fluctuations, pepper industry affected by extreme weather. (Source: MC) |
Pepper price today, November 26, 2023 in the domestic market decreased slightly in some key localities, trading from 69,000 - 71,5000 VND/kg.
Specifically, pepper price today in Gia Lai is at 69,500 VND/kg.
Pepper prices today in Dong Nai province (69,000 VND/kg); Dak Nong, Dak Lak (70,500 VND/kg); Ba Ria - Vung Tau (71,500 VND/kg) and Binh Phuoc (72,000 VND/kg).
At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Vietnamese black pepper at 3,500 USD/ton for 500 g/l, 3,600 USD/ton for 550 g/l; and the price of white pepper at 5,100 USD/ton.
Lampung black pepper price (Indonesia) closed at 4,033 USD/ton, up 0.05%; Brazilian black pepper price ASTA 570 was at 3,000 USD/ton; Kuching black pepper price (Malaysia) ASTA remained at 4,900 USD/ton.
Muntok white pepper price is 6,221 USD/ton, up 0.03%; Malaysian ASTA white pepper price remains at 7,300 USD/ton.
According to Peppertrade , a large Brazilian export company recently announced to its partners that new contracts placed after this week will only be shipped in January 2024.
The company acknowledged that it is having difficulty finding suppliers who are willing to sell or have stock. The main reason for this situation is the ongoing heat wave. The El Niño phenomenon is causing high temperatures in Brazil, including in the production areas. According to the unit, pepper can only withstand 32 degrees Celsius, however, in some areas it is reaching 43 degrees Celsius.
In Vietnam, the 2024 pepper crop will begin in more than a month in the Dak Nong region, which is considered the most important area at present. The flood situation in July is expected to affect the upcoming pepper harvest, combined with the predicted El Nino phenomenon that will occur at the end of the year, which could lead to a decrease in output in 2024 compared to 2023.
So the important issue for the major pepper producing countries in the world is the rainfall in the coming time. Pepper plants require an annual rainfall of 1,500 - 2,500mm and a relatively even distribution of rainfall. Pepper requires a relatively short dry period after harvest to differentiate flower buds and flower concentrated at the beginning of the rainy season next year.
Preliminary statistics from the Vietnam Pepper and Spices Association (VPSA) show that in October 2023, Vietnam imported 1,961 tons of pepper, a sharp increase of 28.3% compared to the previous month. Imports from Brazil accounted for 74.3%, reaching 1,458 tons, an increase of 59.2%, while imports from Indonesia decreased by 50.4%, reaching 183 tons.
From the beginning of the year to the end of October, Vietnam imported 22,502 tons of pepper of all kinds, of which black pepper reached 21,084 tons and white pepper reached 1,418 tons. Compared to the same period in 2022, the import volume decreased by 29.2%.
Of which, imports from Brazil accounted for 62.1% and increased by 51.4% over the same period to reach 13,975 tons, while imports from Cambodia decreased by 73.5% to reach 3,403 tons and from Indonesia decreased by 46.6% to reach 2,880 tons.
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