Pepper market February 14, 2024: Localities adjusted prices to increase

Pepper prices today (February 14) simultaneously increased in many localities. Currently, the highest price is 84,000 VND/kg.

Domestic pepper prices

According to the survey, pepper price in the domestic market fluctuates between 81,500 – 84,000 VND/kg after a slight increase in some localities.

Currently, Dong Nai province has the lowest price of 81,500 VND/kg and Gia Lai has a slightly higher price of 82,000 VND/kg, both increasing by 500 VND/kg.

Similar, Pepper price today in Dak Lak, Dak Nong and Ba Ria – Vung Tau also increased by 500 VND/kg, currently being applied at the same level as Binh Phuoc province of 84,000 VND/kg.

World pepper prices

According to an update from the International Pepper Association (IPC) on February 13 (local time), the price of Lampung black pepper (Indonesia), Brazilian black pepper ASTA 570 increased by 0.15% compared to February 12.

At the same time, the price of Brazilian black pepper ASTA 570 and Kuching (Malaysia) ASTA black pepper remained stable.

At the same time of the survey, Muntok white pepper price increased by 0.18% compared to the previous session, while Malaysian ASTA white pepper price had no new adjustments.

According to Online Marketing World pagemany pepper gardens in Lam San commune (Cam My district, Dong Nai) have begun to harvest as Tet is approaching.

Mr. Phan Kiem, in Lam San commune, planted 1 hectare of pepper. He said, since September 2023, while the pepper tree was in the flowering and fruiting stage, it encountered unfavorable weather.

Continuous drought and high humidity make flowering difficult. Then there were scattered unseasonal rains, causing the plants to suffer heat shock and lose a lot of flowers.

According to Mr. Kiem, in recent years, pepper prices have dropped sharply. Pepper farmers continuously lose money, so they do not have the conditions to invest in taking care of pepper gardens.

This is the reason why the average yield of pepper trees is only over 2 tons/ha; reduced by nearly half compared to the high productivity level of this crop.

Last year, on this area he harvested 4 tons of pepper. This year, productivity decreased, he expected to only get 2.5 tons/ha.

At the same time last year, many pepper growing areas in Dong Nai were in full harvest. Near Tet, pepper growers face double difficulties because not only does productivity decrease but sales are also low.

Pepper prices in 2023 sold at the garden have dropped sharply to 60,000 VND/kg; 20,000-25,000 VND/kg lower than the 2022 crop.

This year, although productivity decreased, Mr. Kiem was still happy because pepper prices increased right before the Lunar New Year.

In July 2023, the market price of pepper is 77,000 VND/kg. Up to now, the purchasing price of pepper is 82,000 VND/kg. If adding the zem level and clean pepper bonus points from the company, farmers can sell it for 90,000 VND/kg.

That means with an increase of nearly 30,000 VND compared to the previous crop, after deducting costs, he earned a profit of more than 100 million VND/ha.

Mr. Le Van Gon living in the same commune said that in fact last year, there was a time when the price of pepper dropped to only 55,000 VND/kg. Near Tet this year, pepper prices increased nearly 1.5 times; It can be said that there is a sudden increase.

“Many people have started selling pepper, partly to pay off material costs and partly to have money for Tet. Hopefully after Tet, pepper prices will continue to stay high,” Mr. Gon said.

According to VietnamBiz.vn