Pepper Market on October 31, 2024

 

Pepper Market on October 31, 2024: Indonesia increases again, domestic pepper crop is at risk

Posted onOctober 31, 2024by VPA

October 31

Pepper prices today, October 31, range from 143,000 to 144,500 VND/kg. Domestically, next year's harvest is forecast by some sources to remain the same or increase slightly, fluctuating between 170,000 and 180,000 tons. The harvest may be delayed due to weather.

In this context, pepper prices are not expected to fluctuate much. The driving force for strong growth last season was the lack of demand from China. According to statistics from the International Pepper Community, in recent months, this market has increased imports from other countries.

Domestically, next year's harvest is forecast by some sources to remain the same or increase slightly, fluctuating between 170,000 - 180,000 tons. Harvest time may come later due to weather.

However, in late October 2024, the press reported on the risk of many flowers falling off, resulting in low fruit set rates and a high risk of crop failure in Ba Ria - Vung Tau.

According to VOV, many pepper farmers in Chau Duc, Xuyen Moc districts and Phu My town, Ba Ria - Vung Tau province said that this year the rain came late, the hot and dry weather and low humidity were not favorable for pepper to bloom.

Mr. Tuyen, who owns nearly 1 hectare of pepper, in Binh Ba commune, Chau Duc district, said that the weather this year is unfavorable, so the productivity is not as good as last year. Meanwhile, pepper harvesting workers are scarce, so the rental price is also high. If the workers do it themselves, it will be more convenient.

“This year’s pepper yield is not as good as last year’s, and it is difficult to find workers because everyone is working for the company. Luckily, my family’s pepper garden has 4 workers to pick pepper and will be harvested by the end of this month. This year’s yield is not as good as last year’s, and the price is higher than last year’s. If the garden owner joins in the harvest, it will be more favorable,” Mr. Tuyen told VOV.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 6,680 USD/ton, up 0.18%; the price of Brazilian black pepper ASTA 570 at 6,400 USD/ton; the price of Kuching black pepper (Malaysia) ASTA at 8,500 USD/ton.

Muntok white pepper price is 9,144 USD/ton, down 0.17%; Malaysian ASTA white pepper price is at 11,000 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. IPC increases Indonesian pepper price again.

According to KTĐT.vn