DAILY: Vietnamese pepper prices rose by 1500 VND on May 3, 2024
Friday, May 3,2024AsemconnectVietnam - On Friday, domestic pepper prices in Vietnam's Central Highlands rose by 1500 VND to VND99,000 - VND100,000 per kg compared to Yesterday, according to Kinhtedothi.
The maximum price for pepper increased to VND100,000 per kg in Dac Lac and Binh Phuoc while the lowest price to VND99,000 per kg in Gia Lai.
Pepper price increased to VND99,500 per kg in Ba Ria –Vung Tau province.
The General Statistics Office has just announced that Vietnam's pepper exports in April 2024 increased to 27,000 tonnes, highest level in the past 11 months, with a turnover of more than 117 million USD, an increase of 4.2% in volume and 5.1% increase in turnover compared to the previous month; increase 2.2% in volume and 40.4% in turnover compared to the same period in 2023.
Accumulated in the first 4 months of 2024, pepper exports reached 83,783 tonnes, valued at more than 353 million USD, down 18.3% in volume, but up 11.5% in turnover compared to the same period in 2023.
Thereby, the average export price of pepper in April 2024 increased for the fourth consecutive month, to 4,342 USD per tonne, up 0.8% over the previous month and up 37.4% over the same period in 2023. Overall, in the first 4 months of 2024, the average export price of pepper reached 4,214 USD per tonne, an increase of 36.4% over the same period in 2023.
According to Ministry of Agriculture and Rural Development (MARD),
the total pepper area reached 115,000 ha in 2023, down 4.2% compared to 2022 and 24.3% compared to 2017 (the highest pepper plantation with around 151,900ha ).
According to MARD's plan, the pepper area will decrease to around 110,000ha shortly in 2024 due to the influence of weather, pests, and the recent sharp increase in the prices of crops such as durian and coffee, which has led farmers to switch crops rather than maintain pepper farms.
The three Central Highlands provinces (Dak Nong, Dak Lak, and Gia Lai) are the main production areas, accounting for 63.5% of the area. In contrast, the eastern region accounts for 29.1% of the area, mainly in 3 provinces: Binh Phuoc, Dong Nai, and Ba Ria-Vung Tau. Some other provinces, such as Quang Tri, have 2,100ha and Lam Dong 2,000ha, respectively.
After reaching a record output of 290,000 tonnes in 2019, Vietnamese pepper production has declined to 190,000 tonnes in 2023 and to 183,000 tonnes in 2022.
In 2024, due to climate change difficulties, pepper prices will remain low while the prices of other agricultural products increase. At the same time, the rise in prices of different farm products will put pressure on reducing cultivated area, while pepper productivity will also be reduced due to moderate investment in caring for and maintaining pepper gardens.
Vietnam pepper production is expected to reach 170,000 tonnes in 2024, the lowest output since 2015. Dak Nong has the most significant output, accounting for 41.2 percent, followed by Dak Lak with 28.2 percent. The six central pepper-producing provinces account for 97.1% of the country's production.
Following are domestic pepper prices on May 3, 2024, in the main pepper growing and consumption regions:
T.Huong
Source: Vitic/Kinhtedothi
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