How will pepper prices start the new week?

Update pepper price today November 19, 2024, which province leads the country in output, which province ranks second in area; what is the latest pepper price on November 19, 2024?

Domestic pepper price today

Pepper price today, November 19, 2024, starting the new week, domestic pepper prices are calm, domestic purchasing situation is stable, Gia Lai, Ba Ria - Vung Tau , Binh Phuoc areas are at 139,000 VND/kg, unchanged from yesterday, November 18, 2024. In addition, Dak Lak is 139,500 VND/kg; the highest is in Dak Nong at 140,000 VND/kg. Domestic pepper prices today fluctuate between 139,000 - 140,000 VND/kg.

According to Dak Nong province's data, the locality aims to maintain about 34,000 hectares of pepper by 2025, with an output of about 73,000 tons/crop; by 2030, the area will reach about 33,600 hectares, with an output of over 73,000 tons/crop. The province has established and developed 4 high-tech pepper production areas, concentrated production areas, with a total area of 3,049 hectares in key pepper production areas.

Currently, Dak Nong pepper ranks first in the Central Highlands and the whole country in terms of area; and second in the country (after Dak Lak ) in terms of output. Pepper acreage is most concentrated in Dak Song, Dak R'lap, Dak Mil.

However, pepper production in Dak Nong is still spontaneous and small-scale, with little production linkage between farmers. Up to now, the whole province has 322.8 hectares of pepper certified by VietGAP; 601.7 hectares certified by organic and 2,219.8 hectares certified by other standards such as Flo, Rainforest, etc.

In the coming time, Dak Nong is developing pepper into a concentrated commodity production industry, meeting all export conditions in the world market. The province also builds resolutions, projects, programs, and specific plans for pepper development. In particular, Dak Nong province aims to develop pepper plants in large-scale, concentrated production areas, improve product quality, and combine preservation, processing, and consumption according to the value chain.

World pepper price today

Update on world pepper prices from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 6,470 USD/ton, down 0.09%, and the price of Muntok white pepper at 9,055 USD/ton, down 0.09%.

The price of Brazilian ASTA 570 black pepper is at 6,000 USD/ton. The price of Malaysian ASTA black pepper is at 8,400 USD/ton; the price of this country's ASTA white pepper is at 10,500 USD/ton.

Of which, the price of Vietnamese black pepper is stable at 6,200 USD/ton for 500 g/l, 550 g/l remains at 6,500 USD/ton; the price of white pepper is at 9,400 USD/ton, unchanged.

Preliminary statistics from the Vietnam Pepper and Spices Association (VPSA) show that in the first 15 days of November 2024, Vietnam exported 8,082 tons of pepper, with a total export turnover of 55.4 million USD. Nedspice, Tran Chau and Olam Vietnam were the three largest exporters in the first half of November, reaching 988 tons, 895 tons and 865 tons, respectively.

Meanwhile, the largest export market for Vietnamese pepper is still the United States, reaching 2,362 tons, accounting for 29.2% of the market share. Thus, by mid-November 2024, pepper exports will earn 1.1674 billion USD.

On the other hand, in the first half of November 2024, Vietnam imported 2,484 tons of pepper, worth 14.3 million USD, an increase of 8.2% compared to the first half of October. Olam Vietnam and Harris Spice are the two main importers, accounting for 894 tons, accounting for 36.0% and 530 tons, accounting for 21.3%. Meanwhile, Indonesia continues to be the largest pepper supplier to Vietnam, accounting for 82.3%, reaching 2,045 tons.

Mr. Hoang Phuoc Binh, Vice President of the Chu Se Pepper Association (Gia Lai), said that the pepper price in Vietnam has decreased because Indonesia has just entered the harvest season. On the other hand, because it is the beginning of the coffee season, many agents are taking advantage of selling pepper in stock to buy coffee.

According to experts, Vietnam is about to enter the harvest season with an estimated output of around 170,000 tons, accounting for about 35-40% of the global supply. Therefore, the world pepper price may still fluctuate.

Based on current developments, some opinions say that pepper prices in the domestic market are forecast to remain stable or decrease slightly in some areas. In the international market, pepper prices are likely to continue to decrease slightly due to pressure from the stronger USD and weak demand in major markets.

Source: https://congthuong.vn/gia-tieu-hom-nay-19112024-khoi-dong-tuan-moi-gia-tieu-the-nao-359527.html