Farmers in Dak Nong are excited and hopeful that the crop, often referred to as "black gold," will return to its golden age.

Supply shortage

After many years of low pepper prices (reaching 34,000 VND/kg in March 2020), pepper prices began to improve in early 2024 (reaching 83,000 VND/kg), and by May 2024, prices started to increase sharply, reaching 120,000 VND/kg. By mid-June 2024, prices had peaked at 180,000 VND/kg.

After a short period at 180,000 VND/kg, pepper prices have shown signs of cooling down. Currently, pepper prices fluctuate around 150,000-160,000 VND/kg; however, this is still the highest price in the past 7 years.

Black pepper is considered "black gold," with prices on the rise again, promising high incomes for farmers in Dak Nong .

Although pepper prices are currently high, the market supply remains insufficient because the main pepper harvest has passed, and the current supply mainly comes from some households that are still stockpiling from the 2023 harvest. Due to this scarcity, the current supply cannot meet market demand.

Mr. Bui Van Tri, the owner of an agricultural product purchasing agency in Krong No district, Dak Nong province, said that the price of pepper is currently on a strong upward trend. Farmers are selling as much as the agencies can, and sometimes there isn't enough supply for the agencies to buy. If the price of pepper remains stable as it is now, farmers will benefit greatly.

Although pepper prices are stable and remain high, they are still not attractive enough for farmers to sell their stockpiled goods.

In the 2023 crop year, Mr. Nguyen Trong Tan's family (in Nam Da commune, Krong No district, Dak Nong province) harvested more than 12 tons of pepper. Mr. Tan shared: "With the current pepper price, if we sell it now, after deducting the costs of cultivation and harvesting, my family will make a profit of more than 1 billion VND. However, I'm not in a hurry to sell because I hope the price of pepper can increase further in the near future."

Expectations are high for pepper to return to its "golden age".

To this day, Mr. Truong Van Ha (Cu Jut district, Dak Nong province) still regrets selling 3 tons of pepper at the beginning of the year to reinvest in his pepper plantation, only for the price of pepper to continuously increase sharply. However, Mr. Ha said that if the price of pepper remains at its current high level, he and other farmers will be extremely happy and confident in reinvesting in pepper cultivation.

Farmers in Dak Nong are hoping that pepper prices will reach high and stable levels so they can confidently reinvest and better care for their crops.

Ms. Nong Thi Hien (from Nam N'Jang commune, Dak Song district, Dak Nong province) shared that farmers in Dak Nong still hope that the price of pepper will reach 200,000 VND/kg, like it did 7 years ago, when pepper was considered "black gold". At that price, farmers would make a high profit and recoup the costs of caring for their pepper gardens over the past years.

Currently, Dak Nong is the leading province in the country in terms of pepper cultivation area and production. If pepper prices remain high and stable as they are now, it will create favorable conditions for farmers in Dak Nong to confidently develop this crop sustainably, bringing high economic efficiency to farmers.

Source: https://danviet.vn/nong-dan-dak-nong-phan-khoi-ky-vong-loai-cay-duoc-vi-nhu-vang-den-tro-lai-thoi-ky-hoang-kim-20240702144801074.htm