Mr. Hoang Phuoc Binh - Standing Vice Chairman of Chu Se Pepper Association (Gia Lai) said that this year's pepper market has too many unusual fluctuations. However, from now until the time before the new crop begins (around January), the lack of goods is certain.
Pepper price today - Domestic pepper price
According to records, pepper prices today in the Southeast region are stable compared to yesterday, trading around 143,000 - 144,000 VND/kg, the highest buying price in Dak Lak and Dak Nong provinces is 144,000 VND/kg. .
Specifically, the price of Dak Lak pepper purchased at 144,000 VND/kg remained flat compared to yesterday. The purchasing price of Chu Se pepper (Gia Lai) increased to 143,500 VND/kg, an increase of 500 VND/kg compared to yesterday. Dak Nong pepper price today recorded at 144,000 VND/kg, moving sideways compared to yesterday.
In the Southeast region, pepper prices today are stable with yesterday. Specifically, in Binh Phuoc, pepper price today was at 143,000 VND/kg, moving sideways compared to yesterday. In Ba Ria - Vung Tau, the price is currently at 143,000 VND/kg, remaining stable compared to yesterday;
Thus, today's pepper price leveled off in key areas compared to yesterday, recording the highest price at 144,000 VND, fluctuating in the price range of 143,000 - 144,000 VND/kg, only in Gia Lai with a slight increase. 500 VND/kg to 143,500 VND/kg compared to yesterday.
Mr. Hoang Phuoc Binh - Standing Vice Chairman of Chu Se Pepper Association said that this year's pepper market has had too many unusual fluctuations. However, from now until the time before the new crop begins (around January), the lack of goods is certain.
The pepper harvest season in Vietnam lasts from January to the end of April in key growing areas. Some pepper growing areas in Quang Tri extend the harvest season until the end of June, this number is not much.
Regarding the assessment of the next pepper crop, there is currently a lot of conflicting information. Some gardeners shared that in this new pepper season, their pepper gardens did not produce fruit. However, there are gardeners who say they expect to receive a bumper crop. This is due to weather factors.
However, to grasp the exact numbers, it is necessary to go to each area and each commune of the key pepper growing area. Many opinions believe that it is not until the end of the year, around November or December, that a fairly accurate forecast of output can be made.
If the next pepper crop is a little better than the previous crop, it will still not be able to make up for the pepper area that has been lost recently and is still continuing to be lost. Therefore, it is forecast that the price increase cycle will continue to last.
Pepper price today - World pepper price
Updated world pepper prices from the International Pepper Association (IPC), at the end of the most recent trading session, IPC listed the price of Indonesia's Lampung black pepper at 7,574 USD/ton, an increase of 1.11% compared to yesterday. Muntok white pepper price increased to 8,918 USD/ton, an increase of 1.12%.
Brazilian ASTA 570 black pepper price increased to 6,450 USD/ton, an increase of 2.33%. Malaysia's ASTA black pepper price continues to stand firm at 8,500 USD/ton; The price of ASTA white pepper in this country reached 10,400 USD/ton.
Vietnam black pepper price is trading at 5,800 USD/ton for 500 g/l type; type 550 g/l at 6,200 USD/ton; White pepper price is at 8,500 USD/ton.
The Ministry of Industry and Trade is currently soliciting comments from businesses on the establishment of a Commodity Exchange and pepper will also be one of the traded items, said Ms. Hoang Thi Lien - Chairwoman of the Pepper and Tree Association. Spice (VPSA) said.
This is not a new idea. Previously, the proposal to establish a pepper trading floor was also proposed by the Vietnam Pepper Association (predecessor of VPSA) 8 years ago (May 2016). The association believes that Vietnam's pepper has accounted for over 50% of the world's trade output for many years and the establishment of the trading floor will help the industry have more power to develop the market and dominate global pepper trade.
VPA added that pepper is an item that can be stored in warehouses for 2-3 years, so farmers know how to keep goods waiting for the right price to sell, something that has never happened with other agricultural products. However, this mentality makes the pepper market unstable. That is also one of the main reasons for VPA to develop the idea of establishing a pepper trading floor.
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