Indonesian pepper suddenly increased sharply
In the domestic market
Recorded today, domestic pepper prices continue to stabilize at 147,000 - 148,000 VND/kg.
Accordingly, pepper prices in Dak Lak and Dak Nong provinces reached the highest level of 148,000 VND/kg. Next was pepper prices in Gia Lai province at 147,500 VND/kg.
Pepper prices in other localities in the Southeast region such as Ba Ria - Vung Tau, Dong Nai and Binh Phuoc are lower at 147,000 VND/kg.
The market is likely to be active again after the Lunar New Year holiday when many localities enter the harvest period. In addition, pepper prices are also expected to increase due to reduced global supply while demand in the US and EU remains stable, and China is likely to return to the market.
The continuous increase in coffee prices and reaching nearly 130,000 VND/kg is also one of the positive factors promoting pepper prices in the coming time.
|
Province/district (survey area) |
Purchase price on 1/2 (Unit: VND/kg) |
Change from previous day (Unit: VND/kg) |
|
Dak Lak |
148,000 |
– |
|
Gia Lai |
147,500 |
– |
|
Dak Nong |
148,200 |
– |
|
Ba Ria – Vung Tau |
147,000 |
– |
|
Binh Phuoc |
147,000 |
– |
|
Dong Nai |
147,000 |
– |
In the world market
In the most recent trading session, the International Pepper Community (IPC) listed the price of Indonesian Lampung black pepper at 7,169 USD/ton, up 0.11% (equivalent to 12 USD/ton) compared to the previous trading session.
However, pepper prices at other producers remained generally stable. Currently, Brazilian ASTA 570 black pepper is quoted at $6,150/ton and Malaysian Kuching black pepper is $9,000/ton.
Vietnam black pepper prices continue to remain stable at around 6,350 USD/ton for 500 g/l and 6,650 USD/ton for 550 g/l.
|
Type name |
World black pepper price list |
|
|
February 1 (Unit: USD/ton) |
% change from previous day |
|
|
Lampung Black Pepper (Indonesia) |
7,169 |
+0.11 |
|
Brazilian Black Pepper ASTA 570 |
6.150 |
– |
|
Kuching Black Pepper (Malaysia) ASTA |
9,000 |
– |
|
Vietnamese black pepper (500 g/l) |
6,350 |
– |
|
Vietnamese black pepper (500 g/l) |
6,650 |
– |
At the same time of survey, the price of Indonesian Muntok white pepper suddenly increased sharply by 2.23% (216 USD/ton), up to 9,672 USD/ton.
Meanwhile, Vietnam's white pepper export price remained stable at 9,550 USD/ton and Malaysian ASTA white pepper reached 11,600 USD/ton.
|
Type name |
World white pepper price list |
|
|
February 1 (Unit: USD/ton) |
% change from previous day |
|
|
Muntok Indonesian White Pepper |
9,672 |
+2.23 |
|
ASTA Malaysian White Pepper |
11,600 |
– |
|
Vietnam white pepper |
9,550 |
– |
Update pepper information
According to statistics from the Vietnam Pepper and Spices Association (VPSA), pepper export turnover in 2024 will reach 1.3 billion USD, an increase of more than 45% compared to 2023, exceeding the expectations of Vietnamese pepper processing enterprises, contributing to bringing pepper back to the list of billion-dollar agricultural export products.
Among pepper exporting enterprises, Olam is at the top, followed by Phuc Sinh, Nedspice Vietnam, Haprosimex JSC and Tran Chau.
Responding to VNA , Mr. Phan Minh Thong, Chairman of the Board of Directors of Phuc Sinh Joint Stock Company, said that in the 30-year export journey, pepper prices in Vietnam increased sharply from 2010 to their peak in 2015. At that time, pepper became a billion-dollar industry and the price of 1 ton of pepper was equivalent to 6.5 taels of gold, or 10,700 USD.
This was also the reason why pepper was called “black gold” at that time. With this price increase, pepper growers began to speculate. In 2015, many farmers still had 3 tons and 5 tons of pepper stored at home, expecting the price to increase to 250 million VND/ton before selling.
But the development of all things will decline after the peak, so soon after that, pepper prices turned around and continuously decreased. By 2019, pepper prices were only 36 million VND/ton, "evaporating" 85% in 3.5 years. The decline in pepper prices caused most pepper growers to be in dire straits, neglecting and switching crops, creating a situation where demand exceeds supply from 2023 until now, so pepper is in short supply again.
By the end of 2023, the country's pepper output will reach about 170,000 tons and will decrease to about 160,000 tons in 2024, which is nearly half of the peak of 300,000 tons in 2015. The small output has helped pepper prices rebound, increasing export value in 2024.
On the side of producers and cooperatives, Mr. Nguyen Tan Cong, Chairman of the Board of Directors of Nam Yang Cooperative (Gia Lai) said that currently, after going through many lessons learned, instead of choosing pure cultivation, people now focus on models of growing pepper intercropped, multicropped with coffee and fruit trees.
Developing pepper in the direction of intercropping and polyculture will be sustainable, thereby helping farmers reduce investment costs and limit disease risks, moving towards safe agriculture. At that time, people will not overuse pesticides and chemical fertilizers on crops, instead using biological products and organic fertilizers to bring durability to the garden, helping to improve the quality of pepper products to enter the world market.
According to VietnamBiz.vn
Posts
No comments:
Post a Comment