Market increases, growers are excited, reviving production spirit before harvest season

Pepper prices today, September 23, 2024, in the domestic market increased in most key localities, trading from 150,000 - 151,000 VND/kg.

Pepper price today September 23, 2024: Market increases, growers are excited, reviving production spirit before the harvest season, (Source: Food Hacks)

Pepper price today, September 23, 2024, in the domestic market increased in most key localities, trading from 150,000 - 151,000 VND/kg.

Specifically, pepper price today in Gia Lai is at 150,000 VND/kg.

Pepper prices today in the provinces of Dong Nai (150,000 VND/kg); Dak Lak (151,000 VND/kg); Dak Nong (151,000 VND/kg); Ba Ria - Vung Tau (150,000 VND/kg) and Binh Phuoc (150,000 VND/kg).

Thus, after a day of mixed developments, domestic pepper prices today increased slightly in most key growing areas, an increase of 1,000 VND/kg, while a slight decrease of 1,000 VND/kg in Dak Lak . The highest pepper price was 151,000 VND/kg. In summary, last week, pepper prices decreased by 2,000 - 5,000 VND/kg in localities.

According to records, current pepper prices help local pepper growers to be excited, reviving production spirit before entering this year's harvest.

Experts say pepper prices could rise above VND160,000/kg before the harvest season in Vietnam. One of the main reasons for the recent increase in pepper prices is limited supply worldwide.

Even Indonesia and India are experiencing limited supply, as are smaller producers like Malaysia and Sri Lanka. Meanwhile, the two countries that determine global supply, Brazil and Vietnam, have both seen reduced production due to the impact of El Nino weather conditions causing drought. Although there are forecasts for higher production next year in Vietnam, with the current erratic weather conditions, nothing can be said for sure.

Looking long term in the next 3-5 years, the amount of pepper produced cannot meet the world's consumption needs.

In the structure of pepper export types in the first 8 months of the year, whole black pepper continued to account for a large proportion of up to 73.8%, reaching 135,620 tons. Next is ground black pepper reaching 25,699 tons, accounting for 14%; whole white pepper accounting for 7.7% with 14,975 tons; ground white pepper accounting for 3.8%; and finally pickled pepper, raw, nail head, green, pink... with 0.7%.

Since the beginning of the year, Vietnam's pepper exports to most major consumer markets have grown strongly at double-digit rates, except for the Chinese market.

According to the Vietnam Pepper and Spice Association (VPSA), Vietnam's pepper exports to the Chinese market in the first eight months of this year only reached 8,388 tons, worth 23.5 million USD, a sharp decrease of 84.4% in volume and 80.2% in value compared to the same period last year.

China's market share in Vietnam's total pepper exports accordingly dropped to 4.6% compared to 28.6% in the same period. With this result, China is now only ranked 5th in the list of Vietnam's largest pepper exporters after the first 8 months of the year, falling 4 places compared to the number one position in 2023.

Source: https://baoquocte.vn/gia-tieu-hom-nay-2392024-thi-truong-tang-nguoi-trong-phan-khoi-vuc-day-tinh-than-san-xuat-truoc-khi-vao-vu-thu-harch-287244.html