Pepper market on July 22, 2024

 

Pepper market on July 22, 2024: Increased again to 149,000 VND/kg

Posted onJuly 22, 2024by VPA

22
Jul

Updated pepper price today July 22, 2024 average at 149,000-150,000 VND/kg.

Currently, pepper prices are in a "shaking" state, sometimes up, sometimes down, but in general the trend will continue to increase. According to Mr. Hoang Phuoc Binh - Vice Chairman of Chu Se Pepper Association (Gia Lai), not only this year, pepper prices will continue to be high for many years to come, because each price increase cycle usually lasts for a long time. about 10 years.

World pepper prices  today

At the end of the most recent trading session, the International Pepper Community (IPC) listed Lampung (Indonesia) black pepper price at 7,191 USD/ton, down 0.25%; Brazilian black pepper price ASTA 570 is at 7,125 USD/ton; Kuching (Malaysia) ASTA black pepper price is 7,500 USD/ton.

Muntok white pepper price was 9,157 USD/ton, down 0.24%; Malaysian ASTA white pepper price is at 8,800 USD/ton.

Vietnam black pepper prices simultaneously kept their prices at a high mark, trading at 6,000 USD/ton for 500 g/l type; type 550 g/l at 6,600 USD/ton; White pepper price is at 8,800 USD/ton. According to the International Pepper Association (IPC), pepper prices in Brazil and Vietnam remain unchanged. Indonesian black pepper price decreased compared to yesterday.

By the end of 2023, the pepper area in Dak Nong province will reach 33,789 hectares, output will reach 70,685 tons, an increase of 28,458 tons compared to 2018. Currently, Dak Nong ranks first in the Central Highlands region and the whole country in terms of pepper planting area. pepper, output ranks second in the country (after Dak Lak province).

Dak Nong will maintain a pepper growing area of ​​about 34 thousand hectares by 2025, with an output of about 52 thousand tons, and by 2030 the area will reach about 33.6 thousand hectares and an output of about 60 thousand tons; Form and develop 4 pepper production areas applying high technology, concentrated production areas with an area of ​​3,049 hectares in key pepper production areas of the province.

Although pepper prices are high, localities and even people are currently very cautious in expanding pepper growing areas. The reason is partly because the value of pepper is no longer as high as other crops. Pepper has long been no longer considered "black gold".

In the Southeast, Dong Nai is one of the largest pepper growing provinces with about 11,000 hectares. In 2018, the pepper area of ​​Dong Nai province reached 19,000 hectares. Many years of low pepper prices caused this province to lose 8,000 hectares of pepper cultivation to switch to higher value crops. This year, although the price doubled, people are still cautious about expanding the area.

The general direction of the industry is to produce clean pepper in a sustainable manner, apply high technology, and improve product quality.

Brazil's pepper exports reached a record high of 92,065 tons in 2021, but then decreased to 86,359 tons in 2022 and 80,725 tons in 2023.

Reduced output from Brazil and Vietnam, the world's two leading pepper producing countries, has pushed world pepper prices to continuously increase in recent times.

Some experts believe that signs of supply shortage compared to demand will continue to be recognized and reflected by the market in the coming time until the end of the season.

Meanwhile, rapidly rising freight costs and port congestion in Asia are also impacting prices in import markets, and can cause shipping delays. This causes prices to increase in the medium and long term.

*Information is for reference only. Prices may change depending on time and location.

According to Industry and Trade Newspaper