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| Pepper price today December 29, 2023, the market continues to fluctuate, pepper development in Dak Nong has reached new heights. (Source: Incredibleman) |
Pepper prices today, December 29, 2023, in the domestic market continued to increase sharply in some key localities, trading from 82,000 - 85,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 82,000 VND/kg.
Pepper prices today in Dong Nai province (82,000 VND/kg); Dak Nong, Dak Lak (84,500 VND/kg); Ba Ria - Vung Tau (83,000 VND/kg) and Binh Phuoc (85,000 VND/kg).
Thus, domestically, the market recorded its fourth consecutive day of increase, with a slight increase of VND500/kg in some localities. The highest pepper price was recorded in Binh Phuoc province at VND85,000/kg.
Currently, the early harvest has begun in some areas of Dak Nong. In this locality, pepper development in recent years has reached new heights associated with value chains. Dak Nong has built two high-tech pepper production areas in Thuan Ha and Thuan Hanh communes.
Dak Nong pepper currently ranks first in the Central Highlands region and the whole country in terms of area, second only to Dak Lak province in terms of output. Dak Lak province currently has over 32,800 hectares of pepper, with an output of nearly 82,000 tons, accounting for about 40% of the area and 43.3% of the output of the entire Central Highlands region.
In recent years, the pepper growing area in Dak Nong has grown steadily at 34,000 hectares, in line with the province's development orientation according to the Dak Nong Provincial Master Plan for the 2021-2030 period, with a vision to 2050.
The average pepper yield in the whole province is about 2.4 tons/ha; the total annual output is about 70,000 tons/year. Dak Nong has 547 hectares of pepper certified organic, about 332 hectares applying GAP process.
According to the Vietnam Pepper and Spice Association (VPSA), the spice industry has been receiving much attention from authorities because of its significant contribution to the agricultural sector in terms of export revenue. Vietnam is one of the largest spice producers and exporters in the world, accounting for about 11% of the global market share in 2022, of which it is the leader in the production and export of pepper and cinnamon.
However, the area and output of pepper are decreasing, in 2020 the area was more than 130,000 hectares, in 2023 it was only 120,000 hectares, the output reached 190,000 tons. Currently, the profit of durian trees is 20 times higher than that of pepper trees. Therefore, it is forecasted that the area of pepper will decrease further because farmers are massively cutting down pepper trees to switch to durian cultivation.
According to the general assessment of businesses, pepper output in the 2023/2024 crop year is expected to decrease by 10-15% to 160,000-165,000 tons as farmers tend to switch from growing pepper to other fruit trees with more economic efficiency.
Vietnam's average pepper export price in November increased for the second consecutive month compared to the previous month, with an increase of 1.8% to 3,839 USD/ton. At the same time, it increased by 3.8% compared to the same period last year. However, in the 11 months, the average pepper export price still decreased by 21.3% compared to the same period in 2022, reaching 3,392 USD/ton.
In the first 11 months of this year, whole black pepper was still the most exported type of Vietnam with a volume of 191,082 tons, up 25.7% over the same period and accounting for 66.1% of the proportion.
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