Pepper price on 11/22/2023: Increased to VND 72,000/kg

Pepper prices on 11/22 in the world

Around the world, the pepper market price on November 22 decreased slightly in Indonesia but remained unchanged in other countries.

Accordingly, the price of Lampung black pepper in Indonesia decreased by 0.12%, down to $ 4,072/ton. The price of Muntok white pepper in this country decreased slightly by 0.11%, down to $ 6,282/ton.

Malaysia's Kuching ASTA black pepper price remained stable at $ 4,900/ton; This country's ASTA white pepper is still priced at $ 7,300/ton.

For the Brazilian market, the price of ASTA 570 black pepper remained at $ 3,100/ton.

In Vietnam, the export prices of 500 and 550 g/l black pepper are $ 3,500 and $ 3,600/ton, respectively. The export price of white pepper remained at $ 5,100/ton.

World pepper prices are currently decreasing slightly in Indonesia and remaining unchanged in other markets.

Thus, world pepper prices on 11/22/2023 decreased slightly in Indonesia compared to yesterday.

Pepper prices on 11/22 in the country

Domestically, the pepper market price on November 22 continued to increase by VND 500 compared to yesterday. 

Specifically, Dak Lak and Dak Nong are purchasing pepper at VND 70,500/kg;

In Gia Lai, pepper prices are trading at VND 69,500/kg;

In Dong Nai, traders raised the pepper price to VND 69,000/kg;

The latest pepper price in Ba Ria - Vung Tau reached VND 72,000/kg;

Meanwhile, Binh Phuoc traded pepper at VND 72,000/kg, an increase of VND 1,000.

Domestic pepper prices today increased for the second consecutive session. Of which, prices in Binh Phuoc increased sharply by VND 1,000/kg, and prices in other main growing areas increased slightly by VND 500/kg. This brings the highest pepper transaction price to VND 72,000/kg.

On November 20, the Sustainable Trade Initiative (IDH) coordinated with the European Union delegation in Vietnam, the Plant Protection Department, The Vietnam Pepper and Spice Association and partner units to organise a summary of the Project “Promoting Sustainable Production and Trade of Vietnamese Pepper” in Dak Lak.

This is a forecast sponsored by the European Union (EU) and IDH, carried out in the period 2021 - 2023 in 3 provinces of Dak Lak, Dak Nong and Gia Lai. 

After 3 years of implementation, the Project has helped increase the volume of pepper by 60% to comply with pesticide residue requirements of the high-end market, certified pepper export value in 2023 is estimated to reach $ 600 million;

- 50% of pesticide dealers sign a commitment to comply with regulations on pesticide management;

​- Reduce the use of banned pesticides by 98%, especially herbicides, fungicides and insects in the context of market warnings of high residue levels;

- Improve the lives of nearly 8,000 pepper-growing households over an area of 8,500 ha in the Central Highlands. 

The project also mobilizes the participation of 12 leading pepper-producing and exporting enterprises and cooperatives in Vietnam; 7 final buyers have committed to accompany and agree to contribute to the common goal of the pepper industry, enhancing sustainable pepper production and trade; 14 agricultural service teams (Agriteams) were established to provide agricultural services, advising and monitoring farmers' responsible use of chemicals; 160 training courses for farmers have been organized.

When participating in the project, farmers are disseminated knowledge and guided in applying good agricultural practices (GAP), Integrated pest management (IPM), Integrated plant health management (IPHM), and mulch management... contribute to reducing input materials, thereby reducing carbon emissions by 10% and irrigation water by 17%. 

Ms. Phan Thi Van, Director of IDH Vietnam said, that in recent years, due to rapid development, pepper growing in the Central Highlands has many potential risks. Vietnam's pepper industry faces a loss of international competitiveness in terms of quality and price. This has affected the livelihoods of pepper-growing households.

Thus, domestic pepper prices on 11/22/2023 are trading around VND 69,000 - 72,000/kg.

$ 1 = VND 23.985 - Source: Vietcombank