In Gia Lai, today’s pepper price was purchased by traders at 59.500 VND/kg – the lowest level in the market.
In Dak Lak and Dak Nong, pepper price today is 60,500 VND/kg, down 500 VND/kg.
In the Southeast region, pepper prices also continue their downward trend: today’s latest pepper price in China fluctuates around 62,000 VND/kg, down 500 VND/kg while the pepper price in Dong Nai is at 61,500 VND. /kg, reduced by 500 VND/kg.
On the world market, the World Pepper Community listed a decrease in Indonesian pepper and remained stable in the remaining countries.
Specifically, Lampung black pepper (Indonesia) decreased by 14 USD/ton to 3,722 USD/ton. Muntok pepper decreased by 23 USD/ton to 6,023 USD/ton.
Brazilian black pepper stabilized at 2,550 USD/ton; black pepper (Malaysia) 5,100 USD/ton; Malaysian white pepper 7,300 USD/ton.
Vietnamese black pepper 500g/l 3,150 USD/ton, down 100 USD/ton; black pepper type 550g/l 3,250 USD/ton, down 100 USD/ton. White pepper 4,750 USD/ton, down 100 USD/ton.
In the 2021 – 2022 crop year, pepper farmers are excited because pepper prices have increased again after many years of stability at a low level. In the past few months, pepper prices have had many discounts and are currently fluctuating at 60 – 63 thousand VND/kg, down more than 20 thousand VND/kg compared to the good price period of the previous harvest.
The reason is said to be due to the stagnant export market, a sharp decline in Chinese demand and the USD pegged at a record high.
In particular, within the past month, domestic pepper prices suddenly dropped sharply, making growers worried. This is considered the lowest level since the beginning of 2022 until now.
In the context of the new harvest approaching, rising inventories and a low market as above can cause dangerous consequences for this industry in the medium term.
Currently, Vietnam’s pepper industry is facing major challenges such as low selling prices, lack of sustainability, and not meeting the increasingly higher requirements of markets. Meanwhile, the domestic market lacks unity and is always “undervalued” by large businesses and agents.
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