Pepper price today (January 23) in the domestic market is in the range of 79,500 – 82,500 VND/kg. In this morning’s session, rubber futures prices on the two exchanges recorded mixed increases and decreases of more than 2%.
Domestic pepper prices
According to the survey, pepper price fluctuates between 79,500 – 82,500 VND/kg in key provinces in the country.
Accordingly, the prices recorded in Dong Nai and Gia Lai provinces are 79,500 VND/kg and 80,000 VND/kg.
In In Ba Ria – Vung Tau and Binh Phuoc, farmers are buying pepper at prices of 81,500 VND/kg and 82,000 VND/kg, respectively.
Similar, Pepper price today In Dak Lak and Dak Nong provinces, it is kept at 82,500 VND/kg.
|
Province/district (survey area) |
Purchasing price (Unit: VND/kg) |
Change compared to yesterday (Unit: VND/kg) |
|
Dak Lak |
82,500 |
– |
|
Gia Lai |
80,000 |
– |
|
Dak Nong |
82,500 |
– |
|
BA Ria Vung Tau |
81,500 |
– |
|
Binh Phuoc |
82,000 |
– |
|
Dong Nai |
79,500 |
– |
World pepper prices
According to an update from the International Pepper Association (IPC) on January 22 (local time), prices of Lampung black pepper (Indonesia), Brazilian black pepper ASTA 570 and Kuching black pepper (Malaysia) ASTA remain stable. determined.
|
Type name |
World black pepper price list (Unit: USD/ton) |
||
|
January 19 |
January 22 |
% change |
|
|
Lampung black pepper (Indonesia) |
3,913 |
3,913 |
0 |
|
Brazilian black pepper ASTA 570 |
3,470 |
3,470 |
0 |
|
Kuching black pepper (Malaysia) ASTA |
4,900 |
4,900 |
0 |
At the same time of the survey, the prices of Muntok white pepper and Malaysian ASTA white pepper had no new adjustments.
|
Type name |
World white pepper price list (Unit: USD/ton) |
||
|
January 19 |
January 22 |
% change |
|
|
Muntok white pepper |
6.169 |
6.169 |
0 |
|
ASTA Malaysian white pepper |
7,300 |
7,300 |
0 |
In 2023, despite facing many difficulties and challenges, Vietnam’s pepper industry still records extremely positive results.
The pepper market outlook in 2024 is relatively positive as the price of this commodity is forecast to increase due to global supply shortage.
In fact, pepper prices at the beginning of the 2023-2024 crop are 35-40% higher than the same period of the previous crop.
According to the general assessment of businesses, Vietnam’s pepper output in the 2023-2024 crop year is expected to decrease by 10-15% to 160,000-165,000 tons due to the trend of switching to growing other more economically effective fruit trees.
The Vietnam Pepper and Spice Association (VPSA) said that in addition to the challenge of shrinking acreage due to competition with a number of other crops, the pepper industry also faces a series of new requirements from the government. importing countries.
In the EU, EU regulations on anti-deforestation and not causing harm to forests initially apply to 6 commodity industries: coffee, soybeans, wood, cattle, cocoa, rubber, and may be extended in the near future. applies to pepper.
Therefore, VPSA recommends that businesses in the pepper industry need to prepare in advance for this regulation.
The upcoming EU requires the origin of the growing area from longitude and latitude, women’s and children’s rights, and accountability of buyers in Europe.
Besides, Vietnam is also a country that imports a lot of pepper from Brazil. If considered from the retrieval time of December 2020, Brazil’s pepper area still reached the threshold of deforestation and forest damage.
Therefore, Vietnam needs to prepare documents to support businesses in declaring appropriately when required.
According to VietnamBiz.vn
