Pepper prices today, October 18, 2024, in the domestic market continued to increase in some key localities, trading from 144,000 - 145,000 VND/kg.
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| Pepper price today October 18, 2024: Market inched up slightly; boldly switching, Binh Phuoc pepper farmers reaped 'sweet fruit'. (Source: Food and Wine) |
Pepper prices today, October 18, 2024, in the domestic market continued to increase in some key localities, trading from 144,000 - 145,000 VND/kg.
Specifically, pepper price today in Gia Lai is at 144,000 VND/kg.
Pepper prices today in the provinces of Dong Nai (143,500 VND/kg); Dak Lak (145,000 VND/kg); Dak Nong (145,000 VND/kg); Ba Ria - Vung Tau (144,000 VND/kg) and Binh Phuoc (144,000 VND/kg).
Thus, continuing yesterday's increase, domestic pepper prices today increased slightly by 500 - 1,000 VND/kg in some localities of the Central Highlands, while remaining stable in other growing provinces. The highest pepper price reached 145,000 VND/kg.
Binh Phuoc’s agricultural sector has been recording a breakthrough in the field of organic pepper cultivation. Many farmers choosing organic production have reaped “sweet fruit” with stable productivity, good quality and effective environmental protection.
In large pepper growing areas such as Loc Ninh, Bu Dop, Hon Quan, Bu Gia Map districts... since farmers boldly switched to organic farming, the gardens have grown well, with stable productivity and higher purchase prices than regular pepper prices on the market.
According to the Chairman of the Farmers’ Association of Loc Hiep Commune, Nguyen Van Ha, the conversion to clean and organic farming methods has partly restored the position of pepper plants. Through the Association’s actual inspection, most households cultivating clean and organic peppers currently have a very stable income, are committed to this crop for a long time and can live well.
According to Chairman of the Farmers' Association of Loc Ninh District Hoang Ngoc Anh, in the coming time, the locality will continue to promote propaganda and timely information so that farmers can proactively produce pepper in an organic and sustainable manner. Pepper products must ensure quality to maintain the brand and meet export criteria. The Farmers' Association coordinates with relevant units to organize training and support pepper farmers to create raw material areas and high-quality pepper products; support businesses to build a system to trace the origin of products under the collective brand "Loc Ninh Pepper".
Currently, the pepper growing area in Binh Phuoc is about 12,450 hectares, which has shrunk considerably due to reasons such as low prices, diseases, crop conversion, etc. In recent years, many families have "held out" taking care of pepper when prices have dropped and produced organically.
However, since the beginning of 2024, the purchase price has increased beyond 100,000 VND/kg, bringing joy to pepper farmers. In addition, the shift to organic pepper cultivation has brought many benefits to both growers and consumers. This approach is opening up a new direction that is both sustainable in cultivation and stable in income for pepper growers.
In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,764 USD/ton, up 0.12%; the price of Brazilian black pepper ASTA 570 at 6,400 USD/ton, down 150 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,700 USD/ton.
Muntok white pepper price is 9,260 USD/ton, up 0.12%; Malaysian ASTA white pepper price is at 11,200 USD/ton.
Vietnam black pepper price is traded at 6,500 USD/ton for 500 g/l; 550 g/l at 6,800 USD/ton; white pepper price is at 9,500 USD/ton, down 350 USD/ton (3.68%). IPC continues to slightly increase Indonesian pepper price while decreasing Brazilian and Vietnamese white pepper export.
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