Update domestic pepper prices
Pepper price This week there is an upward trend in key provinces in the country. Compared to the beginning of the week, the purchasing price increased by 1,500 – 2,000 VND/kg.
According to the survey, the lowest price is 71,000 VND/kg both in Gia Lai and Dong Nai provinces, increasing by 1,500 VND/kg and 2,000 VND/kg respectively.
Also recording a price of 72,500 VND/kg at the weekend were the two provinces of Dak Lak and Dak Nong, corresponding to an increase of 2,000 VND/kg.
Currently, pepper purchasing prices in Binh Phuoc and Ba Ria – Vung Tau also increased by 2,000 VND/kg, reaching 73,500 VND/kg and 74,000 VND/kg, respectively.
Update pepper information
During the 51st annual meeting of the International Pepper Association (IPC) taking place in Malaysia on November 7, Deputy Prime Minister and Minister of Plantation Industry and Commodities of Malaysia, Mr. Datuk Seri Fadillah Yusof, said the imbalance between supply and demand is one of the challenges facing the global pepper industry.
According to IPC data, global pepper consumption decreased slightly last year to 213,000 tons from 224,000 tons in 2021, largely due to the slow recovery from the pandemic and demand adjustments.
Meanwhile, global pepper production in 2022 will reach 537,000 tons, down from 548,000 tons in 2021.
“The decline in supply highlights the importance of Malaysia, along with all members of the International Pepper Community (IPC), in developing programs to stimulate consumption.
This initiative should expand beyond traditional markets to include new markets, which could include cooperation programs between member countries,” Mr. Fadillah said.
The member countries of the IPC are India, Indonesia, Malaysia, Sri Lanka and Vietnam, while Papua New Guinea and the Philippines are associate members.
According to the Malaysian Ministry of Horticulture and Commodities, Malaysia is the world’s fifth largest pepper producer in 2022, with an output of 32,724 tons, after Vietnam, Brazil, India and Indonesia. There are currently about 38,587 small pepper growing households in Malaysia with a total pepper growing area of 8,091 hectares.
Malaysia mainly exports pepper to Japan, Singapore, Korea, Vietnam and Taiwan. As of August 2023, Malaysia has recorded a total pepper export value of 96 million Ringgit (20.4 million USD) and the country is expected to increase its search for new markets such as Scandinavian countries.
According to VietnamBiz.vn
