Black pepper prices on October 24th fluctuated between 67,000 and 70,500 VND/kg. The market is experiencing downward pressure as coffee harvest season approaches. Tight credit conditions are making it difficult for traders and companies to stockpile large quantities. Meanwhile, global demand from various markets has slowed down.

In Dak Lak and Dak Nong provinces, black pepper prices were purchased at 68,500 VND/kg, a decrease of 500 VND/kg. In Gia Lai province, black pepper prices stood at 67,000 VND/kg, a reduction of 500 VND/kg. In Dong Nai, the current price of black pepper was 68,500 VND/kg, down 500 VND/kg.

In Ba Ria - Vung Tau province, black pepper prices reached 70,500 VND/kg, a decrease of 500 VND/kg.In Binh Phuoc province, black pepper was purchased at 70,000 VND/kg, also experiencing a 500 VND/kg drop.

Black pepper prices today have decreased by 500 VND/kg compared to the same time yesterday. The market is under pressure due to the onset of the coffee harvest season, and capital is shifting towards this agricultural product. Difficult credit conditions are preventing traders and companies from holding large stocks. Additionally, global demand from various markets has slowed down, particularly against the backdrop of a strong US dollar and high inflation.

Since 2020, the black pepper cultivation area in Vietnam has remained stable at around 130,000 hectares, with production fluctuating between 180,000 and 200,000 tons. Currently, with over 100,000 farmers involved in black pepper production, 200 exporters, and approximately 35 processing plants, Vietnam is the world's largest producer and exporter of black pepper, accounting for over 40% of production and 60% of the global black pepper export market share.

To maintain its position, Vietnam is gradually transitioning towards sustainable black pepper production, with an emphasis on organic farming and encouraging its development. The Central Highlands and Southeast regions are the two largest black pepper production areas in the country. In these regions, farmers are increasingly shifting from traditional methods to organic farming, leading to the establishment of organic black pepper production zones.

At the end of the trading session on the first day of the week, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 4,086 USD/ton, a decrease of 0.54%; the price of Brazil ASTA 570 black pepper stood at 3,100 USD/ton; and Kuching black pepper (Malaysia) ASTA maintained its price at 4,900 USD/ton.

White Muntok pepper was priced at 6,152 USD/ton, a 0.55% decrease, while white Malaysian ASTA pepper remained at 7,300 USD/ton.

Vietnamese black pepper traded at 3,500 USD/ton for the 500 g/l variety and 3,600 USD/ton for the 550 g/l variety. IPC has consistently lowered the price of Indonesian black pepper in recent days.

According to Kinhtedothi.vn