Farmers are excited because pepper prices have increased sharply to 1,500 VND/kg.

Today's pepper price update, November 22, 2024: Farmers are delighted as domestic pepper prices unexpectedly surge. What are the latest pepper prices on November 22nd – are they increasing or decreasing?

Domestic pepper prices today

Today, November 22, 2024, pepper prices in Vietnam unexpectedly increased across the board. Gia Lai, Ba Ria-Vung Tau, and Binh Phuoc provinces all saw an increase of 1,500 VND/kg compared to yesterday, November 21, 2024. Dak Nong increased by 700 VND/kg, while Dak Lak saw a slight increase of 500 VND/kg.

Specifically, in Gia Lai province, the purchase price is 139,500 VND/kg, the same as in Ba Ria - Vung Tau , both of which have increased by 1,500 VND/kg. Binh Phuoc and Dak Lak provinces both have a price of 140,000 VND/kg. Notably, Dak Nong province has a slightly higher price of 140,200 VND/kg.

On average, the price of pepper today, November 22, 2024, ranges from 139,500 to 140,200 VND/kg, an increase of 1,100 VND/kg compared to yesterday, November 21, 2024.

Pepper prices have been consistently sluggish and have fallen sharply since the beginning of the week. The strong rebound in pepper prices would be a positive sign for the pepper industry and farmers nationwide.

In 2014-2015, black pepper was considered "black gold" when its price peaked at 250,000 VND/kg. Seeing the huge profits, many farmers rushed to buy land and convert it to pepper cultivation.

The consequence is that the pepper cultivation and care process is disrupted, and chemical fertilizers and pesticides are poured into the gardens indiscriminately in the hope of achieving the fastest growth and highest yield.

After 10 years, efforts to sustainably develop the pepper industry are being maintained and achieving positive results. After a year of good prices, people did not rush to plant new pepper, but instead focused on increasing productivity using organic methods.

Vietnam's pepper exports are expected to be favorable in early 2025 thanks to strong demand from the Chinese market. At the same time, global pepper supply will be scarce until February 2025 as Indonesia's most recent harvest has ended. This presents a great opportunity for Vietnam to capitalize on as it enters its new harvest season.

Today's world pepper prices

According to the International Pepper Association (IPC), the world pepper prices remained stable at the end of the most recent trading session, unchanged from the previous update. IPC listed Indonesian Lampung black pepper at US$6,470/ton; and Muntok white pepper at US$9,055/ton.

Brazilian ASTA 570 black pepper is priced at $6,000/ton. Malaysian ASTA black pepper is priced at $8,400/ton; the price of Malaysian ASTA white pepper is $10,500/ton.

Specifically, the price of Vietnamese black pepper remained stable at US$6,200/ton for the 500 g/l grade, and US$6,500/ton for the 550 g/l grade; the price of white pepper remained unchanged at US$9,400/ton.

Earlier this week, experts from the project to transform pest management practices on coffee, tea, and pepper farms in Vietnam visited and evaluated the effectiveness of the implementation in Dak Nong. They learned about the reality at the Doan Ket Agricultural Service Cooperative and some households in Dak Song and Cu Jut districts.

Experts highly appreciated the efforts of farmers and cooperatives in Dak Nong in applying integrated pest management. These measures help minimize negative impacts on the environment, ensure safe agricultural production and limit greenhouse gas emissions.

The project, which will run from 2022 to 2025 in Dak Lak, Lam Dong, Dak Nong, Binh Phuoc, Tuyen Quang and Phu Tho provinces, has built six models in Dak Nong with nearly 15 hectares of pepper using integrated pest management. The main objective of the project is to reduce the use of agricultural chemicals, limit negative impacts on climate and protect biodiversity.